Fortis Joins Energy Impact Partners Utility Coalition
Energy Impact Partners LP (EIP) today announced the addition of Fortis Inc. (FTS.TO) to its Nexus strategic partner network. Fortis joins Southern Company (NYSE:SO), National Grid plc (NYSE:NGG), Xcel Energy Inc. (NYSE:XEL), Ameren Corporation (NYSE:AEE) and Great Plains (NYSE:GXP) as strategic partners investing in innovative technologies to improve customer service, reduce costs and increase revenues.
EIP is a private equity fund that invests in emerging technologies, products, services and business models across the full electricity supply chain from generation to consumption. EIP recently announced investments in AutoGrid Systems, which provides big data analytics and cloud computing solutions for the energy industry, and in Sense Labs, a leading home energy intelligence and management platform.
"Fortis is pleased to make a strategic investment in the Energy Impact Partners Utility Coalition," said Barry Perry, President and CEO of Fortis. "Fortis' nine operating utilities throughout North America are focused on responding to customer needs. In doing so, we are actively committed to innovation and investigating emerging technologies in the utility sector, which will reduce costs and enable us to deliver reliable energy safely to our customers."
"Fortis will bring new perspectives to Energy Impact Partners," said EIP CEO and Managing Partner Hans Kobler. "Our strategic coalition now spans all of North America, offering insights from a variety of regulatory environments and a full range of customers. The breadth of these partnerships truly provides a platform for our portfolio companies to scale."
"Fortis has a very diverse North American footprint. We operate in a variety of climates and regulatory environments that span Canada, the United States and the Caribbean," said James Laurito, EVP of Business Development for Fortis. "Working with the team at EIP, we will remain at the forefront of emerging technologies in the ever-changing utility industry."
