Optimisation software providers seek scale-up in key US battery storage markets
May 23, 2023
Energy optimisation software provider Peak Power has received US$35 million investment
Energy optimisation software provider Peak Power has received US$35 million investment
If we allow a small fraction of EVs to provide energy back to the grid, we could eliminate the need for much of our existing natural gas peaker plants
The market for energy storage is seeing a boom. Innovative storage business models that were virtually unthinkable a few years ago are now being sparked by a variety of variables, including flexibility and prices that are falling as well as advancements in digital technologies like artificial intelligence and predictive analytics.
I posed the question to experts at the foremost utility trade conference — DistribuTECH.
Despite the wider slowdown in tech sector funding, some Canadian ventures are bucking the trend. Toronto-based Peak Power, which creates software for optimizing energy use, has inked a deal with cleantech investor Madison Energy Investments worth $200 million in project financing
Peak Power, an Ontario-based C&I-focused energy storage and software firm, has secured a US$200 million financing agreement with Madison Energy Investments (MEI).
Ontario is staring down an electricity supply crunch and amid a rush to secure more power, it is plunging into the world of energy storage—a collection of technologies that is poised to transform the provincial grid and change the way energy is used, bought, and sold by homes and businesses.
Ontario is staring down an electricity supply crunch and amid a rush to secure more power, it is plunging into the world of energy storage — a relatively unknown solution for the grid that experts say could also change energy use at home.
These days, connecting with potential investors no longer relies solely on in-person meetings. Between social media platforms, video conferencing tools and virtual events, it only takes one online interaction for an entrepreneur to connect with someone who can open up a wealth of funding opportunities.
As the number of electric vehicles on roads goes up, questions about whether Canada’s electrical grids will have the capacity to keep up with future power demands are at the forefront of the minds of many industry experts and electricity users alike.
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