Arenko and Smart Metering Systems (SMS) have agreed to expand the scope of their relationship with a ten-year deal. Arenko have been providing end to end trading software to automate key trading processes across SMS’s growing battery energy storage business solidifying an initial deal which was agreed in 2021.
Nimbus, Arenko’s enterprise grade software platform will be licenced by SMS’s in house trading team for all revenue generating activities, with full automation capabilities and access to all markets available under the licence.
SMS’s battery business currently has 240MW of grid scale energy storage assets operational from a total exclusive pipeline of 860MW. SMS are targeting a minimum portfolio of 1,500MW by 2030.
Arenko’s Nimbus platform serves as the centralised operating system for enterprise customers to trade, manage and operate energy transition assets and portfolios by analysing and operationalising massive amounts of data sources to drive efficiency and performance improvements using AI and ML linking trading, integrations, asset management, risk management and back-office functions.
Nimbus currently operates approximately 600MW of batteries with further onboardings set to roughly double this in 2024 and a longer-term secured pipeline of c.2GW signed up to use Nimbus. Arenko is also expanding internationally and into renewables and hybrid projects, having recently announced successful launch of co-location capabilities in both wind and solar with Vattenfall and Engie respectively.
Rupert Newland, Founder and CEO of Arenko, said: “We are thrilled to have signed an extension to our software partnership with SMS. Our market leading software enables blue chip companies, like SMS, to outperform the market, manage risk and increase revenues. SMS are one of the fastest growing and most successful battery owners and operators in the UK and we are delighted our enterprise software solution can support them on this journey.”
John Flaherty, Managing Director, SMS, said: “The continuation of our relationship with Arenko is a reflection of how the Nimbus platform enables our trading team to operate flexibly in the full array of market opportunities available to the SMS fleet of batteries. This arrangement enables SMS to scale to its full ambitions as a market leader with complete control of our destiny.”
About Arenko
Arenko is a market-leading technology provider enabling the clean energy transition. Our technology enhances the return of batteries and renewables and opens the industry to more investment and innovation. Our mission is to build a sustainable future by enabling a zero-carbon grid worldwide.
About SMS
Smart Metering Systems plc (www.sms-plc.com) the integrated energy infrastructure company owning and managing smart meters, energy data, grid-scale batteries and other carbon reduction assets (“CaRe”) to facilitate effective energy management. The Group manages and optimises these assets through its in-house technology and data analytical platform “METIS”.
Established in 1995, SMS provides a full end-to-end service, from funding and installation to management and maintenance, with a highly skilled workforce, deep engineering expertise and well-established industrial partnerships.SMS is leading the low carbon, smart energy revolution in the UK and is committed to reducing its own carbon emissions to net zero by 2030. SMS has been recognised with the London Stock Exchange’s Green Economy Mark every year since it was introduced in 2019.
SMS plc is headquartered in Glasgow with a national presence across twelve UK locations.
SMS’s shares are listed on AIM.
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