Power company AES Corp. (AES) on Monday announced the merger of Simple Energy with Tendril to form Uplight, a new company that offers solutions for electric and gas utilities.
AES, which invested in Simple Energy in 2018, said it has made a $53 million strategic investment in Uplight as part of the merger.
AES noted that Uplight will combine Tendril's expertise in behavioral energy efficiency and demand side management programs with Simple Energy's experience in consumer engagement marketplaces to create a digital ecosystem designed specifically for utilities.
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