Envision, one of the world’s leading renewable energy and technology companies, today announced the acquisition of Norway-based BazeField technology in a partnership that will drive both companies forward in the digital energy revolution.
The partnership with BazeField is a continuation of Envision’s commitment to cooperate with the best companies around the world to develop solutions to meet global energy and climate challenges, and enable the necessary transition to a low-carbon global economy.
“BazeField is at the cutting edge of renewable energy system management technology,” said Felix Zhang, Envision executive director. “The acquisition will provide the resources and support for BazeField to further develop its state-of-the-art technology, and provide better products and services to its global clients. The synergies and complementary technologies between Envision and BazeField will create a partnership that will drive forward growth and innovation for both companies.”
According to Zhang, the digital energy technology market is at an early stage of development, fragmented and geographically diverse. “At this stage of the market’s development, innovation and growth requires more partnerships and greater cooperation,” he said. “The new relationship between Envision and BazeField will play a key part in achieving those goals and pushing the market forward.”
BazeField will continue to operate independently under the agreement. “The independence of BazeField is important for the success of this partnership,” Zhang said. “With Bazefield operating independently, customers will have more choice and BazeField will have the autonomy it needs to continue its development efforts.”
“We decided we would need a partner to grow with,” said BazeField CEO Sigurd Juvik. “Envision is the right partner for us. The companies have a similar vision for smart energy technology and the partnership offers us the resources and industry insights that will accelerate our product development and entry into new market regions. We have confidence in our technology. Moving forward with Envision Energy is an endorsement of that, and a massive vote of confidence.”
Zhang pointed out that the world is rapidly moving to a future energy system that is completely different from today’s. “This energy future will rely on society and business being able to run an energy system in which digitalisation means greater control and improved efficiency at every juncture,” Zhang said. “Envision Energy and BazeField are at the forefront of this transition, using software to maximise the efficiency of every piece of hardware they help to operate. The global market is undergoing a fundamental paradigm shift and global cooperation is a must.”
After the acquisition is complete, customers will be able to use the same technology platforms they have chosen from Envision or BazeField, but with added innovation and potential. Juvik said, “The combination of BazeField and Envision Energy will accelerate investment in BazeField’s technology, increase both companies’ rate of growth and geographic expansion, and increase employment and investment in Norway and Europe, all of which will help us overcome the challenges we face today in energy and the environment.”
Date: May 3, 2016