Jacobs has entered into a minority investment agreement and formulated a strategic relationship with Microgrid Labs Inc (MGL), a Colorado-based software and consulting company specializing in commercial fleet electrification and microgrids.
Through the investment and strategic relationship, Jacobs will leverage MGL's technical capabilities to expand upon its offerings in the expanding vehicle electrification space, aligning with the company's sustainability goal of ensuring long-term business resilience and success while positively contributing toward the economy, society and the environment. MGL's EVOPT is a Software as a Service (SaaS)-based platform for modeling, simulation and optimization of electric vehicle fleets, charging infrastructure and energy infrastructure.
"This transaction offers both immediate and long-term benefits for Jacobs' green transportation clients," said Jacobs EVP and President of People & Places Solutions Patrick Hill. "In delivering world-class solutions, our work is underpinned by strategic, forward-looking advisory within the rapidly evolving digital and technology landscape."
In the U.S. alone, there are more than 250 million highway registered vehicles, including an estimated 145,000 public transit vehicles, 480,000 school buses, 38 million trucks and more than 200 million light-duty vehicles. According to a Research and Markets report, the global electric vehicle market is expected to hit $140 billion by 2027.
In addition to navigating significant technical and marketplace obstacles, Jacobs says fleet operators face a fragmented electrification process that is spread across consultants, software vendors and equipment manufacturers. This investment in MGL's technology can help consolidate and streamline the necessary planning to help clients avoid service disruptions, lost revenue and wasted resources.
"Fleet electrification is complex and expensive," said MGL Co-founder and CEO Narayanan Sankar. "Our data driven approach and analytics tools help fleet operators derive the right balance of vehicle battery size, charging infrastructure and operational constraints."
The transaction is subject to customary closing conditions.
