1ENERGY NEWS:

Doosan Acquires 1Energy Systems

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July 11, 2016

To our employees, customers, industry partners and colleagues,

We are pleased to announce that on June 30th of this year, Doosan Heavy Industries & Construction acquired 1Energy Systems from its employee owners, creating a new company called Doosan GridTech™. All 1Energy employees have joined Doosan GridTech, which is based in Seattle, Washington, where it continues 1Energy’s mission of delivering technology-based solutions that accelerate the development of the digital distributed electric grid.

Doosan Group (parent of Doosan Heavy Industries & Construction) is the oldest company in Korea, founded in 1896 as a retail and trading company. It moved into brewing and consumer goods after the Second World War, and then into heavy industry, expanding in the 1980’s to provide engineering, procurement and construction (EPC) of power and water desalination plants, and manufacturing of key components for those projects. Today, after a period of exceptional growth through the early 2000s, Doosan is one of the ten largest Korean companies, with annual revenues of nearly $17 billion in 2015. The acquisition of 1Energy expands Doosan’s growing U.S. presence, exemplified by Doosan Bobcat, based in North Dakota, and Doosan Fuel Cell America, based in Connecticut.

Acquiring 1Energy furthers a multi-year strategy to extend Doosan Heavy Industries & Construction’s energy solutions portfolio from power generation to transmission and distribution, and to increase the firm’s presence in distributed and renewable energy technologies. 1Energy’s software platform will form the foundation of a set of solutions designed to accelerate adoption of distributed energy resources on power systems worldwide. We are confident that 1Energy’s expertise in enterprise-scale software and power system engineering will combine with DHI’s balance sheet, EPC capabilities, and global scale to open up substantial new opportunities in the emerging clean electric energy field.

For 1Energy, this marks a major milestone in our journey to deliver control software and power system engineering services that help utilities integrate renewable energy into their grids. From our founding in 2011, we have built one of the most extensive portfolios of utility-integrated, megawatt-scale energy storage projects in the world, working with utility customers such as Snohomish PUD, Austin Energy, Duke Energy, and Puget Sound Energy. Through our work creating the Modular Energy Storage Architecture (MESA), helping to found the MESA Standards Alliance (www.mesastandards.org) and collaborating closely with the SunSpec Alliance and OpenADR, we’ve played a leading role in open standards that customers need for interoperable distributed energy resources. And we’ve built a state-of -the-art, multi-tiered, general purpose software control platform based on those standards, with our 1Energy Intelligent Controller™ and 1Energy Distributed Energy Resource Optimizer™ products.

What unites us all moving forward is our common vision of the digital distributed grid, required to fully enable clean electric energy. Global public policy is demanding a lower carbon energy system. Further electrification of the economy, along with steps to “de-carbonize” the electric system, combine to form the most critical strategy for meeting this challenge. Renewable generation and battery storage are important enabling technologies, but software intelligence is required to unlock their potential to power the grid reliably and economically. At Doosan GridTech™ we will deliver these software-based solutions and do our part to accelerate the critical clean energy transition. Please visit our new website, www.doosangridtech.com, and watch the video outlining this vision in more detail.

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Daejin Choi

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David Kaplan

CEO, Doosan GridTech Founder & CEO, 1Energy Systems
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