Savant Systems has acquired Racepoint Energy, an engineering-driven company known for category-defining smart electrical panel, automated power, storage and energy resiliency solutions for consumers, home builders, businesses and utility companies.
Renamed Savant Power, the company now joins GE Lighting, a Savant company, as the two newest additions to Savant Systems, Inc.’s portfolio of smart home solutions. By adding automated power, Savant now addresses climate, lighting, entertainment, security and energy.
“Over the past 12 months, we have made significant strategic acquisitions triggering rapid revenue growth and projections for our brands,” said Bob Madonna, chairman and CEO, Savant Systems, Inc. “Savant Power’s innovative smart electrical panel and microgrid solutions align perfectly with trending investment in a rapidly growing energy sector.”
Savant Power brings a scalable software platform to manage distributed energy resources such as solar, storage and flexible load management.
“The way we produce and consume power is changing in ways not seen since the inception of the grid well over 100 years ago,” said Anna Demeo, president, Savant Power. “Thomas Edison famously remarked that he hoped we didn’t wait until supplies of oil and coal were exhausted before utilizing alternative resources such as solar and wind. Now, Savant Power is poised to make these solutions a reality alongside GE lighting, a Savant company, while improving quality of life and energy resiliency around the world.”