Acquisition will expand Energy Market Operations offering and empower energy market participants with leading digital capabilities to navigate the evolving regulatory environment and renewable energy goals. Hitachi ABB Power Grids has signed a definitive agreement to acquire US-based Pioneer Solutions LLC, a provider of industry-leading front-to-back-office Commodities/Energy Trading and Risk Management (C/ETRM) solutions, headquartered in Denver, Colorado, USA. This expansion will give the business the most comprehensive offering in the market. The acquisition is expected to close in the fourth quarter of 2020. Pioneer Solutions LLC has been recognized as an industry leader, being named in the top five of Energy Risk’s Software Survey & Rankings for the past seven years. The company was also ranked as the best cloud-based C/ETRM and as the number one in customer service and support by Energy CIO Insights for 2019. Claudio Facchin, CEO of Hitachi ABB Power Grids, said, “The addition of Pioneer Solutions LLC, an industry recognized leader in Commodities/Energy Trading and Risk Management, will position us as the partner of choice for customers looking to support a sustainable energy future while managing market risks.” As a result of this agreement, Hitachi ABB Power Grids will expand its existing Energy Portfolio Management… continue reading
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Source: CTRM Center