Schneider Electric Acquires Zeigo

Schneider Electric Acquires Zeigo Schneider Electric announced the acquisition of Zeigo, a climate technology platform startup, to enhance its services in energy, sustainability and environmental commodities advisory. The acquisition will develop Schneider Electric's clean energy services and solutions portfolio and contribute to the company's digital energy transformation goals. As global expectations and demand for climate risk mitigation and fair energy transition accelerate rapidly, organizations face mounting pressure on decarbonization. Over the past 10 years, one of the most widespread and effective tools companies have used to begin decarbonization has been renewable energy purchasing agreements (PPAs) signed with utilities. Organizations have voluntarily procured over 77 gigawatts of wind, solar and geothermal energy through PPAs to date. As net zero targets become widespread globally, PPA demand is expected to rise. More than 2,000 companies have already joined the Science Based Targets initiative to align their decarbonization goals with the 1.5 degree Celsius global warming threshold. Over 300 companies have joined the Climate Group's RE100, committing to 100 percent renewable energy in their operations. In line with these commitments, Bloomberg estimates that the corporate renewable energy gap will reach 269 terawatt-hours by 2030.

Energy Supply Process Advancing with Human Intelligence Plus Machine Approach

Schneider Electric will combine the best-in-class advisory services it has provided for many years with Zeigo's artificial intelligence infrastructure to deliver collaborative advanced intelligence solutions to its customers in the procurement process for energy and environmental commodities. These solutions will complement Schneider Electric's existing integration solutions, EcoStruxureࡊ Resource Advisor and NEO Networkࡊ digital platforms. Steve Wilhite, Senior Vice President, Head of Sustainable Business Division at Schneider Electric, stated: "Renewable energy procurement is a time-consuming and complex process. It requires serious expert assessment of projects and risks. As the world's largest renewable energy advisor to companies, we recognize that speed and complexity are two barriers preventing many organizations from entering the PPA market. In this context, by combining Zeigo's technology with our existing service and solution portfolio, we will significantly strengthen and enrich the value we deliver to our customers worldwide." Juan Pablo Cerda, Zeigo founder and CEO, commented on the matter: "We are extremely pleased to continue our journey to accelerate the digital clean energy revolution under the Schneider Electric umbrella. By working together, we will deliver innovative energy solutions to more companies embarking on their decarbonization journey." With Zeigo's machine learning algorithms and experienced team joining Schneider Electric, the company will strengthen its market leadership as the world's largest and most experienced corporate renewable energy advisor. The company continues its operations with leading market share in the United States, Europe and Australia, as well as in emerging geographies such as Brazil, and Schneider Electric's global experts have supported the execution of over 13,000 megawatts of corporate PPAs since 2014. The Schneider team also took responsibility in developing first-of-its-kind and best-in-class programs such as the Energize consortium, which was recently announced for pharmaceutical supply chains. Schneider Electric was recognized as the world's most sustainable company by the Corporate Knights Global 100 Index in 2021.