Artificial intelligence (AI) company SEW said it has agreed to acquire GridExchange, a transactive energy software platform, from Alectra Utilities Corp., according to an Oct. 23 press release. Financial details about the deal weren’t disclosed.

GridExchange “empowers energy consumers to transition from passive users to proactive prosumers, leveraging distributed energy resources (DERs) such as solar panels, battery storage, and EV (Electric Vehicles),” the press release said.

"At SEW, we are shaping a clean and sustainable energy future. The acquisition of GridExchange aligns perfectly with our vision and strategy of an intelligent, resilient, and sustainable energy ecosystem," stated Deepak Garg, CEO and founder of SEW. "Our journey towards a sustainable future begins with empowering and educating individuals and businesses alike to actively participate in the energy revolution," Garg emphasized. "By integrating GridExchange into our SEW connected platform, we are not only driving cleaner energy transition and adoption but also revolutionizing the way people and communities engage with their energy consumption.”

"Our development of GridExchange, which helped to enable non-wires alternative pilots in our service territory, illustrates our commitment to enabling customers to participate in local energy markets,” said Brian Bentz, president and CEO of Alectra.