SHYFT Power Solutions
SHYFT Power Solutions builds IoT hardware (smart meters, Smart Transfer Switch) and cloud software (FlexView AMI, Connect DERMS) for sub-metering, billing, and remote monitoring of distributed energy assets, serving facility managers, IPPs, telecom operators, and real estate developers primarily in Nigeria and, post-SteamaCo merger, across 20+ African countries.
- Company typePrivate
- Founded2016
- HeadquartersOakland, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What SHYFT Power Solutions does
SHYFT Power Solutions, Inc. (originally founded as Solstice Energy Solutions in 2016 by Stanford engineers Ugwem Eneyo and Cole Stites-Clayton) builds IoT hardware and integrated cloud-based software to connect and intelligently manage distributed energy resources, with a primary commercial focus on Nigeria and emerging markets. The company's product portfolio centers on three offerings: (1) FlexView, an Advanced Metering Infrastructure (AMI) solution for sub-metering and revenue management featuring tokenless payments, remote meter control, tamper detection, and 15-minute resolution energy data, sold using DLMS/COSEM-compliant Kamstrup cellular smart meters; (2) Connect, a monitoring and DER management platform integrating with major inverter OEMs (Studer, SMA, Fronius, Victron, Schneider, Growatt) to provide remote monitoring of generators, fuel tanks, solar, batteries, and grid connections; and (3) the patented Smart Transfer Switch (STS), cloud-controlled switchgear that automates switching between grid, generator, solar, and battery sources with metering and analytics.
The company monetizes through a mix of hardware sales and leases of smart meters, subscription-based software licenses for FlexView and Connect, professional installation services through certified technicians, and extended warranty offerings of up to 15 years. Go-to-market combines direct enterprise sales targeting facility managers, IPPs, telecom providers, and real estate developers with authorized reseller channels in West Africa and a referral program. SHYFT's reported performance metrics include over 97% data reliability (versus 40-70% for competitors), operational cost reductions of up to 57% for customers, and unaccounted energy reduced to approximately 1% at flagship customer APAMPA Estate.
Following a $3.8M seed round led by SoftBank Vision Fund Emerge Program and Total Carbon Neutrality Ventures in April 2021, SHYFT commercialized FlexView in 2022 and secured patents across several African markets in 2023. In November 2024, SHYFT was wholly acquired by UK-based SteamaCo Ltd, combining SteamaCo's Nimbus AMI platform (active in 20+ African countries) with SHYFT's FlexView and Connect offerings. The merger was accompanied by a new funding round led by Equator VC with Praetura Ventures and KawiSafi Ventures. SHYFT now operates as a wholly-owned subsidiary within the SteamaCo Group, with the combined entity targeting utility-scale digital transformation across African power markets.
SHYFT Power Solutions firmographics
Firmographics- Name
- SHYFT Power Solutions
- Legal name
- Shyft Power Solutions, Inc.
- Website
- https://shyftpower.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- SHYFT Power Solutions builds IoT hardware (smart meters, Smart Transfer Switch) and cloud software (FlexView AMI, Connect DERMS) for sub-metering, billing, and remote monitoring of distributed energy assets, serving facility managers, IPPs, telecom operators, and real estate developers primarily in Nigeria and, post-SteamaCo merger, across 20+ African countries.
- Ownership category
- akta.pro rank
SHYFT Power Solutions industry classification
Industry- Product category
- Energy Management Software
- NAICS
- Electric Power Generation, Transmission and Distribution (2211), Electric Power Transmission, Control, and Distribution (22112)
- SIC
- Switchgear & Switchboard Apparatus (3613), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- DER Management Systems (DERMS) & Virtual Power Plants (VPP) (EUADAPAD)
- akta.pro secondary industries
- Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers) (HSAPAQAF), Power & Energy Systems for Telecom Sites (Generators, Batteries, Fuel) (HDAIAKAG), Interoperability, Protocols & Standards (OCPP, ISO 15118, OCPI, OpenADR) (EUAFAMAH)
Keywords
Where SHYFT Power Solutions is headquartered
LocationHeadquarters
- HQ city
- Oakland
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
SHYFT Power Solutions business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Supply Chain, Marketing or Sales, Operations
Revenue model
- Hardware Sales (Smart Meters): Sale of certified smart electricity meters including single-phase, three-phase, CT meters with cellular connectivity. Customers can purchase meters with upfront payment or lease arrangements. Ownership transfers upon payment completion for purchases.
- Software Subscriptions (FlexView AMI): Subscription-based software platform for metering and billing management, providing remote meter control, tariff management, and billing services. Fees charged for software license and maintenance.
- Monitoring Services (Connect Platform): Web-based monitoring and control services for distributed energy assets including generators, solar, batteries, and grid connections. Subscription-based with fees varying by asset size and components monitored.
- Equipment Leasing: Meter leasing option where customers pay subscription fees for use of FlexView smart meters rather than purchasing outright. Revocable, non-exclusive, non-transferable license.
- Professional Services: Installation services through SHYFT-certified technicians, technical support, and extended warranty offerings up to 15 years.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Custom pricing based on energy assets and monitoring requirements |
| One time/ perpetual license | Monthly | Smart meter purchase or lease options |
| Other | Multi-year contract | Extended warranty up to 15 years |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels8 records
SHYFT Power Solutions product offering
Product offeringCore offering
SHYFT Power Solutions builds IoT hardware (Smart Transfer Switch, DLMS/COSEM-compliant smart meters) and integrated cloud-based software to connect, monitor, and intelligently manage distributed energy resources. Its two flagship platforms — FlexView (AMI, sub-metering, and revenue management) and Connect (remote monitoring of generators, solar, batteries, inverters, and fuel systems) — enable facility managers, communities, IPPs, telecom providers, and real estate developers to optimize energy usage, recover costs, and reduce unaccounted energy in emerging markets, primarily Nigeria and West Africa.
Differentiator
Problem solved
Functional benefit
Brands
- FlexView: Integrated metering and billing solution for facility managers, communities, and IPPs enabling payments, collections, and usage tracking. Features tokenless system for remote meter control, tamper detection, and real-time energy monitoring.
- Connect
- SHYFT Smart Transfer Switch (STS)
Products and services
- FlexView AMI Solution Integrated metering and billing platform providing tokenless payment systems, remote meter control, tariff management, tamper detection, automated billing and collections, and 15-minute resolution energy data. Designed for facility managers, residential communities, IPPs, and AMISPs needing sub-metering and revenue management.
- SHYFT Connect Platform Web-based monitoring and control platform for distributed energy assets including generators, solar, batteries, inverters, and grid connections. Enables virtual troubleshooting, predictive maintenance, AI-driven loss detection, and integration with major inverter OEMs. Targeted at renewables operators, DER operators, and telecom tower operators.
- Smart Transfer Switch (STS) Patented cloud-controlled switchgear providing remote control and automation of energy switching between grid, generator, solar, and battery sources. Includes metering, analytics, and optimization modes. Tested by Intertek (NRTL) and CE mark certified (functionally equivalent to UL mark).
- Smart Electricity Meters (Kamstrup) DLMS/COSEM-compliant single-phase, three-phase, and CT smart electricity meters with cellular, dual tariff, and RF mesh communication. Available for purchase with upfront payment or lease arrangements; standard 24-month warranty extendable up to 15 years.
Quantifiable outcome
- Operational cost reduction of up to 57% for some customers
- +4 more outcomes
Companies that use SHYFT Power Solutions
Customer profileNamed customers4 records
Segments7 records
Ideal customer profiles5 records
SHYFT Power Solutions technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration8 records
AI capability6 records
Feature9 records
SHYFT Power Solutions partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and supporting.
- SteamaCo Ltd (UK)coreSteamaCo, a UK-based leader in energy revenue management with over a decade of experience providing AMI to energy companies across 20 African countries, merged with SHYFT Power Solutions in November 2024. The merger combines SteamaCo's Nimbus AMI platform with SHYFT's FlexView solution, creating a unified entity committed to Africa's digital utility transformation. SHYFT became a wholly-owned subsidiary of SteamaCo.
- StudersupportingInverter vendor integrated with SHYFT IX platform for battery and solar monitoring capabilities.
- SMAsupportingInverter vendor integrated with SHYFT IX platform for battery and solar monitoring capabilities.
- FroniussupportingInverter vendor integrated with SHYFT IX platform for battery and solar monitoring capabilities.
- VictronsupportingInverter vendor integrated with SHYFT IX platform for battery and solar monitoring capabilities.
- Schneider ElectricsupportingInverter vendor integrated with SHYFT IX platform for battery and solar monitoring capabilities.
- GrowattsupportingInverter vendor integrated with SHYFT IX platform for battery and solar monitoring capabilities.
- KamstrupcoreMeter OEM partner providing DLMS/COSEM-compliant smart meter solutions including single-phase, three-phase, CT meters with cellular connectivity for FlexView AMI platform.
- PowerhousesupportingWorld's only incubator and accelerator dedicated to intelligent energy technologies. SHYFT (then Solstice) was one of Powerhouse's three newest accelerator companies in 2017, receiving cash investment, 24/7 access, mentorship, and introductions to industry leaders and investors.
- Capital InnovatorssupportingInnovation accelerator that collaborated with Ameren to invest in SHYFT Power Solutions.
- University of Missouri St. LouissupportingAcademic institution collaborating with Capital Innovators and Ameren on the investment in SHYFT.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
SHYFT Power Solutions competitors and assessment
Company assessmentDirect peers
- SparkMeter: SparkMeter provides smart metering solutions for mini-grids and utilities in emerging markets, with a similar focus on sub-metering, AMI, and remote monitoring for distributed energy — directly comparable to SHYFT's FlexView and Connect platforms and customer base in Africa and similar geographies.
Others
- Kamstrup: Kamstrup is SHYFT's core smart meter OEM partner supplying DLMS/COSEM-compliant meters for the FlexView AMI platform. As the upstream hardware supplier integrated into SHYFT's stack, it is comparable on metering technology and standards, though it does not directly compete in SHYFT's software/services layer.
Broad incumbents
- Landis+Gyr: Landis+Gyr is a global AMI/smart metering incumbent serving utilities worldwide with metering, grid intelligence, and advanced metering infrastructure. It is comparable as a broad player in the same AMI/smart metering category, though it focuses on large utilities rather than SHYFT's emerging-market IPP/community niche.
- Itron: Itron is a global AMI and metering infrastructure incumbent offering smart meters, communication networks, and utility analytics. It overlaps with SHYFT in the AMI and metering category, though Itron's footprint and product portfolio are substantially broader than SHYFT's emerging-market focus.
- Schneider Electric: Schneider Electric provides broad energy management, DERMS (via AutoGrid acquisition), and grid solutions globally, including inverter products integrated with SHYFT Connect. It competes in overlapping energy management and DER monitoring categories but as part of a much larger portfolio serving diverse end markets.
- ABB: ABB offers DERMS, microgrid solutions, and grid automation products as part of its broad electrification portfolio. It is comparable in DER management capability and microgrid support, though it serves primarily large utility and industrial customers rather than SHYFT's emerging-market IPP/community focus.
- Siemens: Siemens provides grid management software, smart infrastructure, and DERMS solutions as part of its broad industrial portfolio. It overlaps with SHYFT's grid monitoring and DER management offerings, though Siemens primarily serves large utilities in developed markets.
Emerging players
- EnergyHub: EnergyHub is a DERMS platform provider enabling utilities to manage distributed energy resources including solar, batteries, and smart thermostats. It is comparable in DER monitoring and management capability, though its primary market is North American utilities rather than African emerging markets.
- AutoGrid (Schneider Electric): AutoGrid provides DERMS and virtual power plant software for utilities and energy companies, now part of Schneider Electric. It is comparable in distributed energy resource optimization and management, though AutoGrid primarily targets utility-scale deployments in developed markets.
- Energi Midstream (formerly Power Ledger) or similar AMI emerging markets player: Power Ledger provides distributed energy and peer-to-peer energy trading solutions relevant to DERs and emerging markets. While its focus is more on energy trading and traceability than AMI/sub-metering, it represents an emerging player addressing adjacent needs in distributed energy markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights8 records
Customer concentration
SHYFT Power Solutions social profiles
Digital presenceSHYFT Power Solutions financial estimates
Financial estimateRevenue estimate
Valuation estimate
SHYFT Power Solutions leadership team
Management profileNumber of profiles
Profiles2 records
SHYFT Power Solutions funding detail
Funding detailFunding overview
Funding rounds6 records
Investors20 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SHYFT Power Solutions M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SHYFT Power Solutions
What does SHYFT Power Solutions do?
SHYFT Power Solutions builds IoT hardware (Smart Transfer Switch, DLMS/COSEM-compliant smart meters) and integrated cloud-based software to connect, monitor, and intelligently manage distributed energy resources. Its two flagship platforms — FlexView (AMI, sub-metering, and revenue management) and Connect (remote monitoring of generators, solar, batteries, inverters, and fuel systems) — enable facility managers, communities, IPPs, telecom providers, and real estate developers to optimize energy usage, recover costs, and reduce unaccounted energy in emerging markets, primarily Nigeria and West Africa.
Is SHYFT Power Solutions a public or private company?
SHYFT Power Solutions is a private company. It is classified as corporate owned and is currently operating.
When was SHYFT Power Solutions founded?
SHYFT Power Solutions was founded in 2016. It employs 11 to 50 people.
Where is SHYFT Power Solutions based?
SHYFT Power Solutions is headquartered in Oakland, United States, in the North America region.
How does SHYFT Power Solutions make money?
Five revenue lines are on record. Hardware Sales (Smart Meters) is the primary driver. The others are software Subscriptions (FlexView AMI), monitoring Services (Connect Platform), equipment Leasing and professional Services.
Who are SHYFT Power Solutions's main competitors?
SparkMeter is listed as a direct peer. Kamstrup is listed as an others. Broad incumbents are Landis+Gyr, Itron, Schneider Electric, ABB and Siemens. Emerging players are EnergyHub, AutoGrid (Schneider Electric) and Energi Midstream (formerly Power Ledger) or similar AMI emerging markets player.
Does SHYFT Power Solutions have an API?
No public API is recorded for SHYFT Power Solutions.
What industry is SHYFT Power Solutions in?
SHYFT Power Solutions's product category is Energy Management Software. Its primary akta.pro industry code is EUADAPAD, DER Management Systems (DERMS) & Virtual Power Plants (VPP), with a secondary code of HSAPAQAF, Home Energy & EV Charging (HEMS, Smart Meters, Batteries, Chargers). Its NAICS code is 2211 and its SIC code is 3613.