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Resideo Announces Sale of Grid Services Demand Response Business to EnergyHub
Prnewswire· 2025-12-02 21:10
Core Insights - Resideo Technologies, Inc. has divested its Grid Services demand response business to EnergyHub, allowing the company to concentrate on its core strategy in residential controls and sensing products [1][3] - The acquisition enhances EnergyHub's capabilities to manage connected devices for utilities, serving over 55 million customers through its platform [2][6] - The financial terms of the transaction were not disclosed, but it is stated that this divestiture will not materially impact Resideo's financial outlook for 2025 [3] Company Focus - Resideo aims to leverage the proceeds from the sale for general corporate purposes, aligning with its previously stated capital allocation priorities [4] - The company is recognized as a leader in various markets, including home heating, ventilation, air conditioning controls, and safety products, with a presence in over 150 million residential and commercial spaces globally [5] Industry Context - EnergyHub is a prominent provider of grid-edge flexibility solutions, managing over 2.5 GW of dispatchable flexible capacity for utilities in North America [6] - The collaboration between Resideo and EnergyHub is expected to accelerate the transition to a carbon-free grid by offering a broader ecosystem of distributed energy resources (DERs) [3][6]