REstore wins 2017 North American DSM Product Leadership Award
SANTA CLARA, Calif., Oct. 4, 2017 /PRNewswire/ -- Based on its recent analysis of the demand side management (DSM) industry, Frost & Sullivan recognizes REstore with the 2017 North America Product Leadership Award for its products, FlexPondTM, a data-driven platform that enables utilities to interact with residential, commercial and industrial (C&I) end users, REstore is a relative newcomer to North America, but has exhibited tremendous success in Europe, with offices in Benelux, France, the United Kingdom, and Germany. The company recently opened an office in San Francisco, California.
Distributed energy resources (DER), as part of the energy generation mix, are steadily increasing. DER consists of distributed photovoltaic (PV), wind, combined heat and power (CHP), generator sets (gensets), and industrial batteries. Power curtailment programs in the form of interruptible load, capacity bidding, and behavioral demand response (DR) are included as well and are expected to play a greater role in the near future. In addition to end users benefitting from DER, progressive utilities have also seen significant savings from these projects.
"Growing concerns for greenhouse gas emissions have led US states to adopt statewide mandates for curtailing carbon emissions and accommodating renewable power. Mandates to reduce carbon emissions are also driving the push for renewable energy resources," said Farah Saeed, Global Program Manager, Digital Grid. "In turn, there's a growing need for sophisticated software platforms designed to optimize the control, scale, and dispatch of diverse generation sources and behind-the-meter assets. Utilities, specifically, need a high-frequency DS management system to help manage and benefit from changes in generation and regulatory mandates."
While REstore offers customer-tailored software and services for its C&I consumers and utility customers, the company has the unique capability of integrating both in a single portfolio. With the help of REstore's solutions, utilities can create their own virtual power plant (VPP) solutions to bid into reserve markets and ensure grid parity during peak demand periods.
The company's flagship product, FlexPond™, addresses the boundary conditions of industrial processes; thereby, enabling ultra-fast reaction times, optimizing earnings, and; consequently, creating more value for REstore's customers. FlexPond™ is a data-driven platform that enables utilities to interact with C&I end users. The platform is based on the following three patented technologies:
- Automated DR—TetREs algorithm suite aggregates smaller pieces of available capacity to deliver a single, long response function to the distribution system operator.
- Portfolio Managed DSM—Beetle algorithm suite programs distributed local controllers to deliver the desired response at the aggregate level.
- Self-learning, Real-time, and Data-driven Power Metering measures the power used by individual loads within a factory, without using power meters.
The company's FlexTreo™ was developed for energy managers and large C&I consumers to decrease power costs and enhance benefits from DSM. FlexTreo™'s specific features consist of the following:
- Real-time overview of power and price levels and day-ahead nominations
- Ability to configure and manage flexible load
- DSM event notifications based on opportunities in the imbalance, spot, and reserve markets
- Real-time adding of boundary conditions to improve flexibility usage
"REstore's expertise lies in two challenging areas: obtaining a clear understanding of what can be curtailed or enhanced at a commercial or industrial site and providing algorithms and patents to obtain the most out of DR," said Saeed. "REstore's patented algorithms and systematic and detailed process have allowed the company to maintain 99.6% reliability of available power; thus, reducing the risk of penalties."
Founded in 2010, REstore has established a strong track record in Europe, with an extensive solution portfolio developed for energy managers and utilities. REstore's FlexPond™ is an exemplary products for utility and C&I DSM consumers. In less than 7 years, based on the success of its product value proposition, the company has grown from a few MW of industrial load to 1.76 GW of peak load management, serving more than 150 industrial customers worldwide. Frost & Sullivan believes REstore is in an exceptional position to grow its presence in the North American market. For these reasons, REstore has earned Frost & Sullivan's 2017 North American Product Leadership Award.
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is gaining rapid market acceptance. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
REstore is a leading energy technology company, focused on automated demand side management and participates in all the ancillary services and capacity markets in France, UK, Germany and Benelux. The company's proprietary platform, FlexPond™, is used by more than 150 of Europe's largest industrial energy consumers, and 5 out of Europe'stop-50 largest utilities and grid operators. REstore's FlexTreo™ solution empowers industrial energy managers to unlock the potential of their flexible power to maximize energy cost savings through real time demand side management.
For more information, please visit www.restore.energy
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