RIL acquires US-based energy software maker

PTI

New Delhi, September 6

Reliance Industries on Tuesday said it will acquire a majority stake in California-based solar energy software developer SenseHawk for $32 million (around Rs 256 crore). The acquisition of a 79.4% stake in SenseHawk is part of the conglomerate’s aggressive push into renewable energy to decarbonise its oil and chemical-dominated business.

Renewable energy biz to get push

• The acquisition of SenseHawk is part of the RIL’s aggressive push into renewable energy to decarbonise its oil and chemical-dominated business
• SenseHawk develops tools for the solar industry to help companies streamline processes and use automation

SenseHawk, founded in 2018, develops tools for the solar industry to help companies streamline processes and use automation.

In a statement, Reliance said it has “signed definitive agreements to acquire a majority stake in SenseHawk Inc for a total transaction value of $32 million, including funding for future growth, commercial rollout of products, and R&D.” SenseHawk helps accelerate solar projects from planning to production by helping companies streamline processes and use automation.

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