Metlen acquires Greek energy software company Joule

Metlen Energy & Metals PLC on Tuesday reported the acquisition of Joule, a Greek energy-software company specialised in renewables.

Metlen, an Athens-based aluminium producer and electricity generator, said its primary interest was acquiring the jHub platform, a system for the remote monitoring, control and optimisation of renewable energy and storage portfolios developed by Joule.

Metlen said the acquisition will boost its capabilities in the renewable business.

"In an environment marked by increased production curtailments and periods of negative pricing, the ability to manage and monitor portfolios in real time is becoming critical. With the integration of jHub, Metlen gains technological autonomy in a critical operational function, strengthening its ability to optimise the operation of its energy portfolios and make more effective use of the capabilities of renewable energy assets," Metlen said.

"As per the acquisition agreement, Metlen will leverage the Joule team's expertise across product development, engineering and go-to-market activities, providing support," the company added.

Financial details of the transaction were not disclosed.

Metlen shares slipped on Tuesday morning in London, down 1.3% at EUR48.70.

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