Executive Brief · 2026-07-05
Data-Center Microgrid & EMS — Executive Brief
The data-center wave is pulling a $60–100M microgrid & EMS adjacency. It is contested by FluxGen and gated on a controls-software anchor — CellWise is the build-vs-buy question.
The opportunity
Firm-power requirements and interconnection delays are pushing APAC data-center operators toward behind-the-meter microgrids, creating a ~$60–100M serviceable attach on the pipeline Meridian already tracks for power and cooling.
- ·Serviceable $60–100M by 2029
- ·Sits on the confirmed data-center pipeline
- ·Controls-led, cross-BU offer
The gap
Meridian's power electronics, storage and building controls transfer, but the controls-software layer does not exist in-house. FluxGen already has it and has won a campus; CellWise would supply the missing anchor.
| Capability | Meridian | Need |
|---|---|---|
| Power electronics | Strong | Reuse |
| Storage | Via GridPoint thesis | Integrate |
| EMS / controls software | Gap | CellWise (buy) or build |
Recommendation
Scope a controls-led microgrid offer tied to the Sundara and Atlas Grid demand, and run the CellWise build-vs-buy case in parallel. Stress-test returns against varied tariff and demand-charge regimes before committing.