TOKYO, Jul 03, 2013 (BUSINESS WIRE) -- Toshiba Corporation (tokyo:6502) today announced that it has acquired a 76% interest in cyberGRID GmbH, an Austrian developer and provider of intelligent energy management solutions. The purchase makes cyberGRID a Toshiba subsidiary, positioned to enhance Toshiba Group's smart community business in Europe, where progress in introducing renewable energy is driving a need for optimal power management technology that delivers a stabile power supply.
Toshiba sees the development of its smart community business as a key strategy for the coming years. In addition to developing its in-house capabilities in related areas, the company has made a series of strategic acquisitions, including Swiss-based Landis+Gyr, the global leader in smart meter technology, whose products and solutions are currently being used in advanced metering infrastructure initiatives on every continent.
In February this year, Toshiba acquired Consert Inc., a US-based energy management company, and the acquisition of cyberGRID brings a European developer of grid management solutions into Toshiba Group.
Utilities must constantly balance power supply and demand across the grid, from generation through to consumption. Among the methods for doing this are demand response, which uses pricing mechanisms, including incentives, to encourage consumers, particularly in industry, to change usual consumption patterns during times of high demand. Another approach is the virtual power plant, which brings distributed generation facilities, such as industrial generation clusters including photovoltaic generators, into the grid at times of high demand. This brings greater flexibility into the supply, but adds to complexity in management and control, and also requires more complex communications.
cyberGRID provides solutions in both areas with Virtual Power Plant (VPP), which matches electricity consumption with a variety of distributed generation. It offers customers a significantly lower cost alternative than conventional peaking power plants, and is environmentally friendly and CO2 neutral. Once VPP is deployed, utilities can deploy new capacity within months without any major infrastructure investments. The company has already introduced its commercial based system in Slovenia and is currently promoting sales to utilities across the Euro zone.
"cyberGRID will create new values to our customers on both demand side and utility side, which provides an ideal fit with Toshiba's energy management business in Europe" said Ryuji Maruyama, General Manager of Toshiba's Smart Community Division. "cyberGRID's cutting edge VPP business and technology will be a key solution for Toshiba's smart community. It overarches energy efficiency facilities on the demand side and smart grid components on the supply side. When integrated with Landis+Gyr's smart metering solution, it gives utilities the ability to develop advanced services for consumers. Smart community is a high level concept for integrated solution package of social infrastructures, and Toshiba Group is accelerating its Smart Community business at the global level and this acquisition will contribute to that."
Reinhard Korsitzke, cyberGRID's Chief Executive Officer added "This step by Toshiba is a huge advance for our company. We have developed an integrated platform for smart meters and VPP with Landis+Gyr, and that collaboration will be boosted and a strong synergy generated with cyberGRID as a member of Toshiba Group."
About cyberGRID
CyberGRID is a specialist in the development and deployment of Virtual Power Plant solutions and was founded in 2010. The company offers an advanced ICT solution that matches up a variety of distributed generation resources with demand response capabilities (industrial and commercial) and aggregates those resources into a clean energy asset that acts like a conventional peaking power plant. Virtual Power Plants can be deployed on a gigawatt scale at utility level. cyberGRID is based in Vienna, Austria and has offices in Slovenia, Germany and the United Kingdom. Visit cyberGRID's web site at www.cyber-grid.com.
About Toshiba
Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.
Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm
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SOURCE: Toshiba Corporation