Metlen Energy Metals (LSE:MTLN) has acquired Joule, a Greek energy software company, in a move aimed at strengthening the digital backbone of its renewable energy trading and optimisation business.
The deal centres on jHub, a platform built by Joule for remote monitoring, control and optimisation of renewable and storage assets, offering real-time production data, forecasting and remote curtailment commands.
Metlen's Aggregator business, which represents renewable producers in electricity markets, currently manages around 1,450 renewable units totalling 3 gigawatts of installed capacity, alongside two newly added storage units with a combined 378 megawatts.
The business already operates beyond Greece, representing producers in Italy and Romania, with expansion into Bulgaria under way.
Metlen said rising production curtailments and periods of negative pricing are making real-time portfolio management increasingly critical, and that owning jHub gives it technological independence in that function.
The company also pointed to potential new revenue lines, including flexibility services for storage, dispatchable renewable units, and management of hybrid renewables-storage portfolios.
Under the acquisition terms, Metlen will retain Joule's team across product development, engineering and go-to-market roles.
No financial terms of the transaction were disclosed.
News Intelligence what this means for the company
Metlen Energy Metals has acquired Joule, a Greek software company, to bring in-house the jHub platform that monitors and optimises its renewable energy and storage portfolios. The move addresses a real operational need—rising curtailments and negative pricing in electricity markets are making real-time portfolio management critical—and gives Metlen control over a tool it already relies on to manage 3 GW of renewable capacity across Greece, Italy, and Romania. No purchase price was disclosed, so the financial weight of the deal cannot be assessed against Metlen's balance sheet.
The acquisition strengthens Metlen's operational resilience in renewables aggregation and opens potential new revenue lines in flexibility services and hybrid portfolio management, but without disclosed terms or detail on jHub's current revenue contribution, the strategic value remains difficult to quantify. The move is defensive (securing control of a critical tool) rather than transformative.
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