Savant Acquires Racepoint Energy; Renamed as Savant Power
Savant Power’s smart electrical panel brings intelligent power load management to Savant’s connected home portfolio.
Racepoint Energy is an engineering-driven company known for smart electrical panel, automated power, storage and energy resiliency solutions for consumers, homebuilders, businesses and utility companies. Savant Power now joins GE Lighting, a Savant company, as the two newest additions to Savant Systems’ diverse portfolio of smart home solutions. By adding automated power, Savant now addresses the energy pillar of the connected home to go with climate, lighting, entertainment and security.
“Over the past 12 months, we have made significant strategic acquisitions triggering rapid revenue growth and projections for our brands,” says Bob Madonna, Chairman and CEO, Savant Systems, Inc. “Savant Power’s innovative smart electrical panel and microgrid solutions align perfectly with trending investment in a rapidly growing energy sector.”
“Savant Power is helping to transform the grid by utilizing our unique automation capabilities, increasing the effectiveness of alternative power sources such as solar, batteries or generators without compromising comfort and convenience,” says Madonna.
Savant Power’s Approach to Smart Energy
A rising number of power outages caused by an aging energy infrastructure and weather volatility along with a growing concern for the environment are driving significant investment in more resilient and sustainable power solutions. These factors, combined with an increase in renewable generation and EV adoption, are forcing a paradigm shift in power distribution and consumption in order to lower cost and provide improved resiliency.
Savant Power, which previously acquired NOON Home back in January 2020, brings a robust and scalable software platform to manage distributed energy resources such as solar, storage and flexible load management. By reimagining the concept of smart energy through an advanced automated platform, The company brings to market the key components needed to achieve a smart living experience as well as a modernized energy infrastructure, according to Savant.
“The way we produce and consume power is changing in ways not seen since the inception of the grid well over 100 years ago,” says Anna Demeo, President, Savant Power. “Thomas Edison famously remarked that he hoped we didn’t wait until supplies of oil and coal were exhausted before utilizing alternative resources such as solar and wind. Now, Savant Power is poised to make these solutions a reality alongside GE lighting, a Savant company, while improving quality of life and energy resiliency around the world.”