Latest from Lighting

Illustration 60886103 / Kheng Ho To / Dreamstime
Photo 226496518 / Mohd Izzuan Ros / Dreamstime
Illustration_60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 / Kheng Ho To / Dreamstime
Illustration 60886103 Kheng / Ho To / DreamsTime
Andrey Popov
Mergers Getty Images 1029427612 Getty Images Andrey Popov Frost

Savant Systems Builds Out Smart Home Biz with Racepoint Energy Acquisition

July 23, 2021
Racepoint has been renamed Savant Power and joins GE Lighting as part Savant Systems’s portfolio of scalable, easy-to-use smart home solutions.

Savant Systems Inc., Hyannis, MA, the smart home company that bought GE Lighting in 2020, has acquired Racepoint Energy, an engineering-oriented manufacturer and developer of smart electrical panels, automated power, storage and energy resiliency solutions for consumers, home builders, businesses and utility companies. Racepoint has been renamed Savant Power and joins GE Lighting as part Savant Systems’s portfolio of scalable, easy-to-use smart home solutions. By adding automated power, Savant now addresses every pillar of the connected home – climate, lighting, entertainment, security and now energy.

“Over the past 12 months, we have made significant strategic acquisitions triggering rapid revenue growth and projections for our brands,” said Bob Madonna, chairman and CEO, Savant Systems, in the press release. “Savant Power’s smart electrical panel and microgrid solutions align with trending investment in a rapidly growing energy sector. Savant Power is helping to transform the grid by utilizing our automation capabilities, increasing the effectiveness of alternative power sources such as solar, batteries or generators without compromising comfort and convenience.”

Savant Power’s business philosophy is to offer 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 intends to bring to market the key components needed to achieve a smart living experience as well as a modernized energy infrastructure.

“The way we produce and consume power is changing in ways not seen since the inception of the grid well over 100 years ago,” said Anna Demeo, president, Savant Power, in the press release. “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.”

Savant Systems focuses on smart home, intelligent lighting and energy solutions for consumers, businesses, utility companies and other customers. Along with its GE Lighting, and Savant Power business units, Savant Systems offers a portfolio of DIY and professionally installed smart products available at thousands of leading retail stores and through a network of authorized integrators. Engineered to customize any space, Savant’s solutions are intended unite all the pillars of any connected environment – climate, lighting, entertainment, security and energy – together into an integrated experience controlled by intuitive software for iOS and Android.