GDF SUEZ invests in Tendril analytics software
GDF SUEZ, through its investment fund GDF SUEZ New Ventures targeting innovative startups, invests $7.2 million in Tendril
GDF SUEZ, a global energy independent producer and Tendril, a U.S. provider of energy services management solutions, announce today the signature of a partnership to better serve European electricity users. Under the terms of the agreement, GDF SUEZ, through its investment fund GDF SUEZ New Ventures targeting innovative startups, invests $7.2 million in Tendril.
“We have been planning our entry into the European market for a long time,” said Adrian Tuck, CEO of Tendril. “We knew our proven, enterprise-class software platform could be customized to meet the diverse needs of the European market. Our challenge was finding a forward-thinking utility partner to help us build winning solutions and support our market entry as a lighthouse partner. We have found that partner in GDF SUEZ.”
Tendril’s ESM Platform already delivers highly personalized energy services to millions of customers in the U.S. Developed over the past 10 years and honed through millions of customer interactions, the Tendril ESM Platform is the only flexible, scalable, enterprise-class software platform that serves as the connective tissue between the providers and consumers of energy.
The goal of this partnership is to enable European customers to have access to Tendril’s customized ESM solution. In turn, Tendril will benefit from GDF SUEZ’s large customer base and should contribute to addressing the pressing issue of energy transition in Europe.
“This new investment by GDF SUEZ New Ventures is a very significant step for GDF SUEZ,” said Gérard Mestrallet, CEO of GDF SUEZ. “Following our first investment in the Belgian startup Powerdale specialized in smart mobility in August 2014, we are now striking a deal in the field of smart energy, another priority development area for our Group. ESM solutions developed by Tendril will enable us to better understand the individual needs of each of our customers. We will deliver tailored products and services that establish a truly personal and engaging energy experience for millions of customers.”