Mitsui & Co Invests in Advanced Smart Grid Control Platform
PXiSE Energy Solutions, LLC, a subsidiary of Sempra Energy has signed an equity investment agreement with Mitsui & Co., Ltd. for the development and sales of PXiSE's high-speed patented software designed to benefit utilities, grid operators, power generators and commercial customers.
Under the terms of the agreement, Mitsui has acquired up to a 20-percent equity stake in PXiSE Energy Solutions and will collaborate in the sales and marketing activities internationally through the company's global network.
"We are pleased to partner with Mitsui as an equity investor in PXiSE Energy Solutions," said Dennis V. Arriola, chief strategy officer and executive vice president for external affairs and South America for Sempra Energy. "PXiSE's innovative technology can help improve the reliability, stability and efficiency of electric transmission and distribution systems, better balancing renewable and conventional resources."
PXiSE's software platform - advanced grid control technology - can help optimize and operate a mix of energy resources at speeds of up to 60 times per second to achieve increased reliability at a lower cost than traditional grid control systems. PXiSE was awarded a patent last month by the U.S. Patent and Trademark Office for its propriety grid control system.
"Our patented technology and innovative software solution, along with the significant technology development contributions from OSIsoft, should help transform electric grids to be smarter and more responsive to customers' needs," said Patrick Lee, president of PXiSE Energy Solutions. "We look forward to working with Mitsui, a well respected global company, to expand the deployment of PXiSE."
"We are confident PXiSE's technology accelerates the digital transformation in the energy and power industry where Mitsui has many assets and access to partners," said Makoto Serino, general manager of DT Business Development Div. for Mitsui & Co., Ltd. "Based on our great relationship with Sempra Energy established through our liquefied natural gas investments, we will further support PXiSE's growth through our expertise as a partner and shareholder of OSIsoft, which provides one of the key technologies of PXiSE's advanced grid control technology."
The PXiSE advanced grid control platform runs on a standard Microsoft Windows platform and uses an imbedded OSIsoft software and synchro-phasor data to enhance, analyze and respond to grid data from numerous power resources. The continuous higher-resolution visibility and artificial intelligence balances a mix of renewable energy, storage and traditional generation on the electrical grid.
The PXiSE software application currently is in use at Sempra Renewables' Auwahi Wind and Great Valley Solar facilities in Hawaii and Northern California, respectively; at Sempra Energy's headquarters in San Diego; and at a winery in Sonoma County, Calif.
PXiSE Energy Solutions is a subsidiary of Sempra Energy, a Fortune 500 energy services holding company with 2017 revenues of more than $11 billion. Sempra Energy is the utility holding company with the largest U.S. customer base. The Sempra Energy companies' approximately 20,000 employees serve more than 40 million consumers worldwide.