Mere days after launching its subsidiary Keen Labs, Marlborough-based green tech company ConnectM Technology Solutions has acquired two new companies to support production lines under a newly created division.
Mere days after launching its subsidiary Keen Labs, Marlborough-based green tech company ConnectM Technology Solutions has acquired two new companies to support production lines under a newly created division.
ConnectM announced its acquisition of Amperics, a hybrid battery tech company, on Tuesday and the acquisition of Geo Impex & Logistics, an India-based logistics developer, on Wednesday.
ConnectM will now produce Amperics’ hybrid batteries under Keen Labs.The products will propel the creation of its AI-driven energy intelligence and virtual power plant software, according to a Tuesday press release from ConnectM.
The developing technology will be used in the control, dispatch, and monetization of storage assets, including those in homes and fleets.
Bhaskar Panigrahi, Chairman and CEO of ConnectM Technology Solutions PHOTO I COURTESY OF CONNECTM TECHNOLOGY SOLUTIONS
“The acquisition of Amperics represents a strategic leap forward for ConnectM,” Bhaskar Panigrahi, ConnectM CEO and chairman, said in the release. “Through Keen Labs, Amperics’ technology becomes the backbone of our next-generation VPP and energy-intelligence stack — turning every distributed battery, whether in a home, truck depot, or data center, into a dynamic, revenue-generating asset that supports a more resilient, intelligent grid.”
ConnectM did not immediately respond to WBJ’s request for either acquisition’s purchase price.
ConnectM will use its purchase of Geo Impex to launch an additional product line under Keen Labs, this time of AI-assisted logistics and infrastructure optimization, according to a Wednesday press release.
The new vertical will focus on creating machine-learning models to predict cargo flows, maximize route performance, coordinate port and data-center energy resources, and promote cost efficiency.
Furthermore, ConnectM plans to transform the approximately 76 acres included in the acquisition to build a dry cargo, refrigerated freight, and industrial logistics hub and AI-enabled energy intelligence data center near Chhatrapur, a town in Odisha, India.
The new site will work to integrate distributed-energy assets, including Amperics batteries.
Panigrahi serves as a promoter for Geo Impex, which focuses on transportation and supply chain management, according to its website.
“The acquisition of Geo Impex marks another transformative step in ConnectM’s growth,” Panigrahi said in the release “By combining infrastructure cleared for industrial development in India with our AI energy-technology stack and new battery tech, we’re creating a new blueprint for sustainable industrial growth — where logistics, energy and intelligence sit on the same platform.”
ConnectM’s new acquisitions come after the company was delisted from the Nasdaq stock market in May.
The firm began trading on the OTCQB Venture Market in October.
Mica Kanner-Mascolo is a staff writer at Worcester Business Journal, who primarily covers the healthcare and diversity, equity, and inclusion industries.
