M&A Moves

Norway-based risk management company acquires Houston energy SaaS biz

The acquisition is inline with "DNV's ongoing commitment to support customers in leading and accelerating the energy transition." Photo courtesy of DNV

A Norwegian company that specializes in risk management in the maritime industry has acquired a Houston software business.

DNV announced the acquisition of Houston-based ANB Systems earlier this month. ANB's software-as-a-service platform provides energy program services to utility and regulatory body customers. The terms of the deal were not disclosed.

“ANB has grown steadily across its software products, its services, and its customers, through its configurable and scalable low-code proprietary software platforms," S. Balakrishnan, CEO of ANB Systems, says in the news release. "The acquisition by DNV will provide us with the resources for product development and operations, as well as give us global market reach. Most importantly, this will give us the resources to ensure we continue providing excellent customer implementation and support via our successful ReSULTS framework.”

The two companies have collaborated previously, and the acquisition is inline with "DNV's ongoing commitment to support customers in leading and accelerating the energy transition," as the company describes in the release.

"Energy efficiency is one of the defining features of the energy transition and the acquisition of ANB, with its strong focus on quality software solutions, will strengthen and expand our offerings in energy management and related services particularly in North America," Remi Eriksen, group president and CEO of DNV, says in the release.

Since its inception in 1997, ANB has developed digital solutions for automation within energy efficiency, electric vehicles, and more. Its platform is powered by artificial intelligence and machine learning.

"The collaboration between DNV and ANB will bring together two world-class teams, combining insights and experience to deliver comprehensive solutions to customers," Ditlev Engel, CEO of Energy Systems at DNV, says. "ANB Systems was founded with a clear mission - to partner with their customers to create best-in-class technology solutions that empower energy companies to provide best-in-class service including artificial intelligence.

"The company has grown and gained remarkable expertise in developing digital solutions for clean energy programs," he continues. "Together, DNV and ANB Systems are committed to accelerating the transition towards decarbonized, safe, and smart energy systems, enabling a sustainable future for all.”

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A View From HETI

Nightpeak Energy's Bocanova Power project in Brazoria County has reached commercial operation. Photo courtesy Nightpeak Energy.

Oakland, California-based Nightpeak Energy announced earlier this month that its 150-megawatt battery storage project in Brazoria County, known as Bocanova Power, is now operating to address Houston’s peak capacity needs.

“This battery storage project will enhance grid reliability in the Alvin area while continuing to support integrating renewable energy,” Cary Perrin, president and CEO of the Northern Brazoria County Chamber of Commerce, said in a news release. “I believe we need energy storage now more than ever for its pivotal role in reducing strain on the grid while meeting fast-growing power demand in Texas and Brazoria County."

The project reached commercial operation in August, according to the release. The project utilizes Tesla's Megapack 2 XL battery storage system, and the facility operates under a long-term power purchase agreement with an undisclosed “investment-grade power purchaser.”

“Bocanova Power demonstrates the speed at which Nightpeak Energy is overcoming complex challenges to energize projects that support America's growing need for affordable, reliable, and secure energy,” Paris Hays, co-founder and CEO/CDO of Nightpeak Energy, added in the news release. “Unprecedented AI data center and manufacturing growth has only accelerated the need for these resources.”

Hays added in the release that the company has plans for more energy infrastructure projects in Texas and in the Western U.S.

Nightpeak Energy develops, owns and operates power plants that support the growing capacity needs of a decarbonized grid. It also owns and operates 240 MW of battery storage and natural gas generation facilities.

The company was founded in 2022 and backed by equity funding of up to $200 million from Dallas-based investment firm Energy Spectrum Capital.

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