Uplight swapping leaders after majority stake purchased

BOULDER — There will be several leadership changes at Uplight Inc. in the wake of Octopus Energy Group Ltd. buying a majority stake in the Boulder-based provider software for utilities and energy companies.

Luis D’Acosta, Uplight’s CEO for the past three years, will transition into a new role as president of Schneider Electric Mexico & Central America. 

Schneider is a minority owner of Uplight that began investing in the company in 2021. Two years later, ties between the two companies were strengthened when Uplight absorbed California-based AutoGrid Systems Inc., a company that Schneider had itself acquired in 2022.

Once the Octopus investment is finalized, an Octopus executive will be appointed Uplight CEO. 

Uplight chief growth officer Hannah Bascom will now serve in the role of general manager.

Schneider executive and Uplight board member Estelle Monod has been tapped as the new executive chair of the company’s board of directors. 

“Luis has been instrumental in consolidating our technology platforms, integrating the acquisition of AutoGrid’s flexibility management capabilities, and successfully navigating negotiations for our latest investment,” Monod said in a prepared statement. “We are grateful for his leadership and are pleased he will remain a key part of the broader Schneider Electric ecosystem.”

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