Pacific Gas and Electric Company announced multiple strategic initiatives that drove investor interest. The company expanded its partnership with Itron to integrate Grid Edge Intelligence solutions, which will enable real-time grid monitoring to detect electrical issues and reduce wildfire risks while making home electric vehicle charging more affordable by automatically adjusting speeds based on grid conditions and home electrical capacity. Additionally, PG&E launched EMBERPOINT LLC, a joint venture with Lockheed Martin, Salesforce, and Wells Fargo to apply artificial intelligence and data tools to wildfire detection, prevention, and emergency response. The company also completed a $21.8 million acquisition of a 209,000-square-foot office building and parking garage in Pleasanton from Workday, purchased at a 69.7 percent discount to the property's assessed value. These developments represent PG&E's expansion in technology partnerships and physical infrastructure.
Read full analysisPacific Gas and Electric Company announced multiple strategic initiatives that drove investor interest. The company expanded its partnership with Itron to integrate Grid Edge Intelligence solutions, which will enable real-time grid monitoring to detect electrical issues and reduce wildfire risks while making home electric vehicle charging more affordable by automatically adjusting speeds based on grid conditions and home electrical capacity. Additionally, PG&E launched EMBERPOINT LLC, a joint venture with Lockheed Martin, Salesforce, and Wells Fargo to apply artificial intelligence and data tools to wildfire detection, prevention, and emergency response. The company also completed a $21.8 million acquisition of a 209,000-square-foot office building and parking garage in Pleasanton from Workday, purchased at a 69.7 percent discount to the property's assessed value. These developments represent PG&E's expansion in technology partnerships and physical infrastructure.
PG&E Corporation (PCG) is a publicly traded company in the Utilities sector.