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Honeywell invests in grid specialist SparkMeter
- December 4, 2023
- William Payne
Honeywell Smart Energy has invested $5 million in SparkMeter, a provider of grid management services to underserved communities across Africa, Asia and the Americas. Through the partnership, Honeywell will offer its US utility customers SparkMeter’s software and services. The company will also offer SparkMeter’s metering hardware to large emerging market countries.
The partnership aims to address demands from a range of utilities for real-time, accurate data from the grid edge. SparkMeter has proven its capabilities to transcend the small microgrid market and move into the larger global utility market. It recently closed its first utility-scale contract with NECSOM in Somalia and expects to close two more contracts in Somalia and its first in the Philippines by year’s end.
“As Honeywell Smart Energy continues to expand its digital capabilities, SparkMeter’s innovative approach to smart grid technology is a good fit to access visibility into a utility’s operational and financial performance,” said Kinnera Angadi, Chief Technology Officer at Honeywell’s Smart Energy and Thermal Solutions. “Their success in emerging markets complements our commitment to driving operational excellence and sustainability across the utility sector. This partnership aligns with our strategy to integrate cutting-edge technologies that enhance grid reliability and efficiency, propelling our service offerings into the next era of smart utility management.”
According to SparkMeter, its industrial IoT technology platform brings grids into the future, providing end-to-end metering and operational analytics solution compatible with any Advanced Metering Infrastructure (AMI). SparkMeter’s technology allows utilities to circumvent electricity and revenue loss due to load management or payment challenges, and begin to plan for new grid dynamics such as DERs and EV chargers. SparkMeter is currently operating in more than 25 countries worldwide.
“Due to the lack of visibility into existing grid performance in many parts of the world, disadvantaged and rural areas often struggle with unreliable or inadequate electricity,” said Dan Schnitzer, CEO of SparkMeter. “Our goal is to enable greater grid resilience by partnering with leaders like Honeywell Smart Energy to bring our plug-and-play grid management technology to address the needs of utilities in all markets.”