Duke Acquires Majority Stake in PhoenixET

Duke-Energy-logoDuke Energy has acquired a majority share of Irvine, California-based Phoenix Energy Technologies (PhoenixET), a provider of energy management systems and services for commercial customers.

According to Duke, the acquisition will help the company expand its offerings to its commercial customers.

PhoenixET’s software is capable of integrating an customer’s portfolio of buildings without deploying additional hardware.

Once PhoenixET completes the building integration process, the company uses its proprietary software to analyze data, such as occupancy, weather, equipment problems, heating, ventilation and air conditioning.

After the transaction, PhoenixET will continue to operate independently with its established management team.

The terms of the deal were not disclosed.

Earlier this year, Duke purchased a majority interest in REC Solar in San Luis Obispo.

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