Mitsubishi Electric is enlarging its position in the utility industry, both as an equipment supplier and an investor. The company added distributed energy resource management systems (DERMS) to its portfolio in August 2021 with the acquisition of Smarter Grid Solutions (SGS). While the investment amount wasn't disclosed, SGS had raised USD 12 million from investors like Maven Capital Partners prior to the acquisition. SGS was likely a smaller investment for Mitsubishi compared with the USD 4.5 billion it spent in 2019 to buy Eneco, a Dutch energy provider, outbidding Shell. The investments are part of Mitsubishi's vision of realizing a decarbonized society by 2050 by reducing greenhouse gas emissions.
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