Generac Grid Services' Concerto™ platform to
enable cost-savings for large facility owners while supporting
power grid stability
DENVER, Sept. 15,
2022 /PRNewswire/ -- Generac Grid Services, a
subsidiary of Generac Power Systems (NYSE: GNRC), a leading
designer and manufacturer of energy technology solutions and other
power products, today announced that it has teamed with Pearlstone
Energy Limited to provide energy management solutions to commercial
and industrial facilities in the United
Kingdom. Leveraging Generac Grid Services' Concerto™
software platform, Pearlstone Energy can provide its customers with
cost savings, while also relieving strain on the U.K. power grid
during periods of peak demand.
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This achievement is the first phase of a multi-year joint
initiative between the two companies to unlock value from
commercial and industrial facilities' flexible capacity. Pearlstone
will use Concerto to reduce demand at each customer facility during
system peaks, typically during the coldest days of the year or when
there is a need for providing equilibrium in the system. The
program will enable Pearlstone's customers to participate in
National Grid's flexibility initiatives in the U.K., help
facilities avoid high network demand charges for power usage during
periods of grid strain, and reward participants with potential
cost-savings year-round.
"Our customers rely on us to optimize their facility's energy
consumption," said Dr. Azad Camyab, founder and chief executive
officer of Pearlstone Energy. "By leveraging Generac Grid Services'
Concerto platform, we can help reduce facilities' demand when
electricity prices are at their highest and assist our customers on
their net-zero and carbon footprint-reduction journeys."
One of Pearlstone Energy's commercial customers has already
integrated and migrated their systems to the Concerto platform.
"Generac Grid Services is thrilled to have entered the U.K.
market with Pearlstone," said Jan Peter
Moree, vice president of business development at Generac
Grid Services. "Harnessing flexible capacity can provide a
sustainable alternative to producing additional high-cost power.
This program gives us the opportunity to help improve the stability
and sustainability of the U.K. power grid, while delivering value
to Pearlstone's customers."
In the coming months, Pearlstone and Generac Grid Services plan
to enable additional revenue streams and savings for facility
owners as electricity market prices continue to rise in the U.K.
Pearlstone will leverage Concerto™ to bid its customers' flexible
capacity into National Grid's short term operating reserve (STOR)
and Distribution System Operator's (DSO) flexibility markets. Both
companies look forward to jointly developing new, innovative
solutions for Pearlstone's customer base.
About Generac Grid
Services
Generac Grid Services is a subsidiary of Generac Power
Systems (NYSE: GNRC), a leading designer and manufacturer of energy
technology solutions and other power products. Generac Grid
Services is working to change the way the world generates and uses
electricity. From turnkey solar + storage solutions, to backup
generators, additional distributed energy resources and virtual
power plant software, Generac Grid Services is helping to
accelerate the world's transition to a cleaner, more reliable power
grid. Via the company's energy-balancing platform, power generation
and storage products that might otherwise sit idle are now able to
be dispatched and orchestrated as part of a distributed energy
solution, thereby generating value for the home or business owner,
while also delivering value to the energy grid.
About Pearlstone Energy
Limited
Pearlstone is a recognized and approved commercial
aggregator by the UK's National Grid and a leading innovator in
Demand Side Response (DSR) technology. Simply put, Pearlstone has
license to create real value for U.K. businesses by finding the
hidden asset in every building, its energy flexibility, and
monetizing it. Our commercial and industrial clients will
receive a new revenue stream by enabling them to sell the energy
they don't need at certain times, for short periods, and which they
currently can't sell on their own.
Pearlstone's offering will be the catalyst for businesses of all
shapes and sizes to take advantage of DSR to help U.K. PLC and the
National Grid to reach its Demand Side Flexibility and net-zero
emission goals and targets.
Media Contacts:
Tami
Kou
|
Dr. Azad
Camyab
|
Tami.Kou@Generac.com
|
ac@pearlstoneenergy.com
|
Phone: 262.544.4811
Ext. 3950
|
|
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SOURCE Generac Grid Services