Savant Systems, Inc., smart home technology innovator, has acquired Racepoint Energy, an engineering-driven company known for 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 diverse portfolio of scalable, easy-to-use smart home solutions. By adding automated power, Savant encompasses solutions across connected home spectrum – climate, lighting, entertainment, security and now 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 is helping to transform the grid by utilizing our unique automation capabilities, increasing the effectiveness of alternative power sources such as solar, batteries or generators without compromising comfort and convenience,” said Madonna.
Savant Power brings a robust and scalable software platform to manage distributed energy resources such as solar, storage and flexible load management. Savant Power brings to market the key components needed to achieve a smart living experience as well as a modernized energy infrastructure.
“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.”
Savant recently opened a new 15,000-square-foot smart home experience center in Las Vegas, NV, which features Savant Power technologies in operation.