Software Will Power the Energy Transition and Uplight Positioned to Lead

Steve McBee
March 3, 2021

Horrific reminders in California and Texas that our nation’s energy grid is fragile and resiliency remains top of mind, show the long-anticipated energy transition must accelerate.

There is momentum within the policy, corporate and investment sectors to deliver decarbonization mandates and achieve a zero carbon future.

While advancements in electric vehicle, battery and storage, and microgrid technologies will continue to gain more traction, software that manages and optimizes reliable and sustainable energy services is the path to a zero carbon future where power is both sustainable and reliable.

Just like in every other sector that has been transformed over the past decade, software that allows companies to get closer to their customers and provide tailored services and products, will create drastic improvements that will upend traditional models.

In the energy space, there is one clear winner making this happen: Uplight – the industry-leading SaaS provider that is the operating system for the clean energy ecosystem.

We are excited to bring together an investment group for a $1 billion investment in Uplight to help grow and scale the business.

This is a company I know well. I have worked with and known the CEO, Adrian Tuck, for a number of years and have seen first-hand his methodical approach to creating sustainable digital energy solutions for more than 110 million energy consumers. And now he has a software “Unicorn” in the energy sector.

We have long believed the winners in the energy transition will be those who get behind the meter and into the home, closer to the end customer, delivering them energy that matches their needs, affordably priced and sustainably sourced.

So do the partners we brought together in this investment. The mix of global strategics and impact investors will help accelerate the path for Uplight.

For the second time in six months, we are pleased to partner with Schneider Electric, the global leader in sustainable energy solutions and recently named the world’s most sustainable company. Schneider’s global reach and impact will help Uplight expand to new markets and channels. AES, an early supporter of Uplight, will continue to partner on new product creation and drive value as a leading partner.

The equity group we brought together is elite and unmatched. Coatue, who has led a number of cleantech investments and is at the forefront of energy transformation and Inclusive Capital Partners, led by Jeff Ubben, and a multiple investment partner of Huck, show the commitment to leading this company in its next phase.

With this team of partners and an industry leading management team at Uplight, the energy transition will continue to be driven by software and data.

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