Toshiba Gains Controlling Stake In Energy Management Firm

Law360, New York (July 3, 2013, 6:31 PM EDT) -- Toshiba Corp. announced Wednesday that it has acquired a 76 percent share in Austria's cyberGRID GmbH for an undisclosed sum, marking the Japanese energy giant's latest effort to strengthen its energy management resources worldwide.

With the purchase, Toshiba is hoping to make inroads to the European market, where there is strong demand for power management technology in the renewable energy sector, the company said. CyberGRID employs technology known as Virtual Power Plant, which helps utilities balance supply and demand for resources throughout the energy development and...
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