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Schneider Electric completes investment in Operation Technology, Inc. ("ETAP") to spearhead smart and green electrification

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- Takes a controlling stake in the business

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- Delivers a combined digital offering that:

- Streamlines increasingly complex mission-critical power systems- Accelerates and improves integration of renewables, microgrids, fuel cells and battery storage technologies into the power grid- Paves the way for green data centers, resilient power grids, decarbonized transport and energy generation- Reduces electricity grid CapEx by up to 20% through improved design and performance- Assures ETAP operations as an independent software-agnostic vendor

RUEIL-MALMAISON, France, June 28, 2021 /PRNewswire/ -- Further to the announcement made on 16thNovember 2020, Schneider Electric, the global leader in digital transformation of energy management and automation, announces that it has successfully completed the transaction to purchase a controlling stake in Operation Technology Inc. ("ETAP"). ETAP will be consolidated within the Energy Management business.

ETAP is an energy management & engineering solutions company specializing in modelling, simulation, design, planning, monitoring, control, operator training, optimization, and automation of power systems. ETAP's integrated digital-twin platform offers the best comprehensive suite of enterprise solutions. As the only high-impact software in its class, ETAP has been a market and technology leader for over 35 years, providing the most comprehensive and widely-used enterprise solutions trusted by 10,000+ companies ranging from, generation, transmission, distribution, industrial, transportation, data centers to low-voltage power systems.

The ETAP investment completes Schneider's existing software portfolio for electricity power systems. Its technology will be integrated in Schneider's unique cloud-based platform for the design and operation of mission-critical power systems using vendor-agnostic software-driven modelling, design, real-time predictive simulation and operation solutions. This will help deliver end-to-end lifecycle digitalization and bring enhanced efficiency, sustainability and resiliency to a broader audience and customer base.

Global customers and partners across critical process and hybrid industries, power plants and grids, data centers, railways and airports will benefit from enhanced modelling, design and predictive maintenance capabilities, supporting better integration of renewables, microgrids, fuel cells and battery storage technology.

A more efficient and low carbon future starts with smart design

By 2040, the world of electricity will be profoundly different: the share of electricity in everything we do will double, reaching at least 40 percent of final energy consumption; and six times more electricity will be generated from solar and wind (Source: IEA). Electrical distribution systems must digitize to support the energy transition. The combined solution will help improve power system performance from modelling, to design, to operations to drive improved grid asset performance, saving up to 20 percent in Total Capital Expenditure (CapEx).

Driving end-to-end lifecycle digitalization in its end markets

By digitally streamlining complex mission-critical systems, the joint Schneider Electric and ETAP offering will:

The integration of Schneider Electric's EcoStruxure™ Power Design platform and ETAP's electrical software design solutions will extend their reach across multi-vendor operating platforms to millions of connected assets across energy-intensive and mission critical power systems applications.

Following the Group's recent strategic investment in IGE+XAO and ALPI, this further enhances Schneider Electric's unique digital twin and software capabilities in Power, Grid, and mission-critical sectors, driving sustainability, efficiency, and resiliency across the lifecycle from CapEx to OpEx.

ETAP will continue to operate as an agnostic, independent software vendor, while its solutions will strengthen Schneider Electric's position as a major player in electrical design, operations & maintenance.

Jean-Pascal Tricoire, Chairman & CEO Schneider Electric, said: "We are delighted to welcome the ETAP team on board. We share a passion for the digitalization of electrical design and the streamlining of every stage in the electrical installation life cycle, from design and build, to operate and maintain. Both of our companies are preparing for a world that will be smart and green, by becoming increasingly digital and electric. By joining forces with ETAP, we are entering a new chapter of advanced electrical distribution, with more digitalization on a global scale, and new tools to empower our customers and partners to make informed decisions and reach new levels of efficiency and sustainability.''

Dr. Farrokh Shokooh, Founder and CEO at ETAP, commented:

"We are extremely pleased to join Schneider Electric, a trusted and respected global company. We are energized by the synergies that will bring the technologies and expertise of ETAP and Schneider together to serve our customers. Now, ETAP is even better positioned to offer an intelligent electrical digital twin platform with integrated solutions to support our customers across multiple industries in accelerating productivity and increasing efficiency for planning, automation, operation, optimization, and management of their power systems."

About Schneider Electric

Schneider's purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, end-point to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

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