Monday 9 July 2018

ENGIE gets smart with new investment in IoT company

ENGIE gets smart with new investment in IoT company

French utility ENGIE has invested in a Romanian Internet of Things (IoT) company that specialises in smart public lighting.

It has bought a 60% stake in Flashnet, which was established in 2005 and has installed its smart lighting solutions in several cities, including Dubai in the UAE, Malaysia’s Penang, the Romanian cities of Brasov and Craiova and Athens in Greece.

ENGIE says the IoT solution gives cities more control over the entire street lighting grid, allowing them to save energy and improve schedule and maintenance works and costs.

With the acquisition, the French firm aims to strengthen its position on the smart public lighting market – it has provided services to more than 500 cities across Europe and the Americas.

Flashnet also provides hardware and software management for low voltage electricity distribution.

Eric Stab, CEO of ENGIE Romania said: “The acquisition of Flashnet responds to ENGIE’s goal to be a reliable partner of the cities and territories by proposing them highly competitive intelligent energy management systems for better cities and utility grids.

“We are glad to strengthen our competencies in both intelligent lighting and grid infrastructures and to provide to our customers better solutions integrating IT, energy and telecommunications technologies.”

Written by

Bruna Pinhoni

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