Global energy and electricity provider Iberdrola announced today the acquisition of decarbonization solution provider Balantia, purchasing the 80% stake in the company that it did not already control, alongside plans to co-launch a new platform to help companies accelerate their emissions reduction initiatives.

Founded in 2011, Spain-based Balantia’s technology helps companies create a decarbonization plan to meet regulatory requirements. Its services also include energy management system automation to enhance efficiency and assist companies in incorporating renewables in their energy mix.

Iberdola initially invested in Balantia in 2019 through its start-up programme, Perseo, and has used the company’s technology in more than 180,000 homes and companies.

Following the acquisition, both companies will launch the Net Zero Emissions Manager (NZE Manager) platform aimed at helping companies to manage energy and CO2 emissions and to design a custom decarbonization plan with a time horizon to be achieved between 2030 and 2050.

The new platform will calculate CO2 footprint, indicate the most impactful actions to reduce it, build dashboards with a special focus on regulatory compliance, dynamically monitor the achievement of targets, and manage data from equipment inventories, invoices and asset profiles.

The platform aims to reach a customer base of more than 20,000 companies this year.