Elon Musk will invest $1.5 billion in the company, which makes sensors that help companies predict the amount of water they can use in order to power turbines.
The investment will come as Emerson develops its first products for the electric grid, and will allow it to scale up its technology to help power power more than half of the world’s homes, according to a release from the company.
Emerson’s new CEO, Brian Oleson, is a former Vice President of the New York City Mayor’s Office of Technology.
Olesin will also join the company’s board.
O’Neill is the founder and CEO of a renewable energy company called Wind Energy Solutions, which was acquired by the energy giant Ineos last year.