In July 2018, Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga) decided to invest in PXiSE Energy Solutions, LLC (“PXiSE”, pronounced “Pise”), a U.S. company which develops and markets control software for electric power systems. Mitsui would take a stake of up to 20% in PXiSE through a new issuance of shares. Concurrently, the companies also signed a collaboration agreement for a strategic business alliance, which will support the popularization of PXiSE’s Advanced Control Technology (ACT) through Mitsui's business bases around the world. ACT was jointly developed by Sempra Energy and OSIsoft, and PXiSE was established in 2016 as a wholly owned subsidiary of Sempra Energy to develop and sell ACT.
This investment in PXiSE will enable Mitsui to contribute to the Digital Transformation of our related assets and capture growth in the market for control systems, which are essential in the expanding fields of renewable energy and distributed power.
PXiSE Corporate Profile
|Company Name||PXiSE Energy Solutions, LLC|
|Date of Establishment||2016|
|Investors||Sempra Technology Ventures, LLC (100% subsidiary of Sempra Energy*)
AEC Holding Inc. (100% subsidiary of Mitsui & Co., Ltd.)
*Sempra Energy is a San Diego, U.S. based operator of a power and gas supply business and a LNG receival and export base. It is a partner company in the U.S. Cameron LNG project which Mitsui is participating in.
|Business overview||Development and sales of control software (ACT) for power systems|