DLA Piper represented Greensmith Energy Management Systems Inc., the developer of an energy storage software solution, in its acquisition by Wartsila, a Finnish manufacturer of marine and energy power sources, for US$170 million. The acquisition, which was first announced in May, closed July 3.
Greensmith Energy Management Systems is used for 180 megawatts of energy storage in 14 different types of batteries, including various lithium-ion sequences and ViZn Energy's zinc redox flow batteries. The platform will provide Wartsila with in-house power generation and energy storage capabilities. Greensmith will operate as a business unit within Wartsila Energy Solutions and will provide stand-alone energy storage as well as hybridized energy systems, control software and integration expertise.
The DLA Piper team representing Greensmith consisted of partners Eric Grossman, Thomas Hendershot and Cathryn Le Regulski (all of Northern Virginia), David Plewa (Silicon Valley), Julia Kovacs(Baltimore), Thomas deButts (Washington, DC) and Paolo Morante (New York); attorneys Cara Hupprich (Northern Virginia) and James Pickle (Washington, DC); and associate Karina DuQuesne(Miami).