REstore Wins the ADE ‘Innovation’ Award 2016
LONDON, 24 November 2016: REstore, the European leader in automated Demand Response, announced today that it is the Winner of the Association for Decentralised Energy (ADE) Innovation Award.
The Association for Decentralised Energy (ADE) issues an annual award that recognises the most innovative energy companies in the United Kingdom.
Over the past four years, REstore has achieved an impressive turnover growth of 2,294 percent and is recognised as one of the fastest growing companies in EMEA. Earlier this year, Bloomberg (August 2016) also listed REstore as a leader in Demand Side Management.
REstore has developed a big data software platform to manage, aggregate and steer flexible, decentralised assets (machines, micro-generation, storage,…) at Commercial, Industrial and Residential consumers, during periods of grid stress.
REstore has offices in Paris, London, Düsseldorf, Antwerp and recently announced the launch of a satellite office in San Francisco (USA) to explore concrete growth opportunities in the US for its FlexPond™ SaaS-based solution.
“As our turnover grew x23 over 4 years, the annual compounded growth rate is pretty impressive, even against “Silicon Valley” benchmarks. We successfully opened new offices in Paris and Düsseldorf early 2016. The next logical step is to assess further growth possibilities in the United States”, says Jan-Willem Rombouts, co-CEO of REstore.
“Our software uses Internet-of-Things and big data technology to deliver Demand Side Management using power consuming machines such as refrigerators, electric boilers, compressors and other industrial processes. REstore turns these distributed resources into Virtual Power Plants, serving as a substitute to a physical peak power plant, but at a much lower cost and with structurally less CO2 emissions", explains Pieter-Jan Mermans, co-CEO of REstore.
“This recognition from the ADE is credit to the whole team at REstore. We have grown from a standing start 4 years ago to now managing 1.7 GW of flexible demand side power. The market depends on constant innovation to unlock flexibility from the demand side and REstore’s Flexpond platform is the perfect example”, said Louis Burford, REstore’s VP Sourcing & Sales UK.
The Association for Decentralised Energy (ADE) promotes a user-focused approach to meet energy requirements and develop a strong, dynamic and sustainable environment for a range of technologies including combined heat and power, district heating networks and demand side energy services, including Demand Response (DR).
For more information, please visit http://www.theade.co.uk/ or www.heatconference.co.uk/index.php/awards