UCD spin-out grid analytics company NovoGrid has been acquired by Danish firm SCADA International. Terms of the deal were not disclosed

NovoGrid is the fourth company to be acquired by SCADA, which expands its software offerings and digital services with the deal.

SCADA said it would strengthen its grid modelling and energy project design capabilities to streamline the grid connection process for developers in the industry.

"Bringing onboard the grid analytics specialists from NovoGrid reflects SCADA International’s ambition to become an end-to-end partner, supporting customers through every step in their green energy transition."

NovoGrid specialises in grid analytics technology to assist developers, asset owners and energy traders with insights into grid connection possibilities prior to investment.

“Alongside the rapid development of renewables and increased rate of electrification, the demand for the highly specialised expertise that NovoGrid covers is increasing, too," said Thomas Bagger, CEO of SCADA International.

"NovoGrid is a front-runner in helping customers solve grid integration challenges by quickening the interconnection process and providing intelligent tools for better decision-making.

"We are very pleased to have the NovoGrid team on board, as we now can support our customers in solving their challenges along the full lifecycle of their assets – from the cradle to the grave, so to speak."

NovoGrid was founded by Paul Manning and Prof Andrew Keane in 2014 and developed proprietary grid analysis technologies based on years of research.

The company's GridScreen software complex power flow results into actionable insights, offering grid connection options and curtailment analysis of a project’s impact on the grid in a fully automated way, allowing developers to assess site potential significantly faster than typical market standards.

“For the past few years, we have closely tracked the industry’s shift toward renewables and electrification, and we are now at a tipping point where grid integration is the number one problem for most of our customers," said Manning.

"With this increase in demand, it has been a natural step for us to expand our company, and we are more than happy to be doing so together with SCADA International.”

Keane said: “We are at a point where meeting grid requirements is essential in ensuring a secure and sustainable future energy supply. This puts added pressure on our customers.

"Bringing in more resources means we can be a stronger partner to help them scale the barrier. I am excited to begin this partnership with SCADA International and support our customers in many more areas than today.”

Additionally, Keane said that he was particularly pleased that NovoGrid had grown out of the Irish energy research system, "demonstrating the key role R&D contributes to real decarbonisation solutions working with industry partners, developing talent and making an impact on global power grids".

Manning and Keane will continue in their current roles after the acquisition is finalised and contribute to the further development of SCADA International.

“When we founded SCADA International in 2006, the industry’s challenges were very different than they are today. Back then, our offerings were mainly related to hardware and consultancy," said Bagger.

"As the market matured and customers started looking into self-performing strategies, we expanded and developed independent monitoring and control software.

"In that way, we have always evolved alongside our customers’ needs and market changes. So, it has been natural for us to have NovoGrid join our new extended team.”

As of 31 December, NovoGrid has €20,400 in net assets after turning a €416,500 profit last year following a €112,600 loss in 2022.

NovoGrid listed intangible assets of €314,100 in and had cash reserves of €336,600.

Photo: (l-r) Paul Manning and Prof Andrew Keane. (Pic: Stuart McNamara/Corporate Photographers)