Peak Power Receives $5M from SDTC to Deploy DERA Platform in North America
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TORONTO, Sept. 27, 2022 (GLOBE NEWSWIRE) — Today, peak powera Canadian cleantech company that develops energy optimization software to decarbonize the commercial and industrial building sectors, announced that Sustainable Development Technology Canada (SDTC) awarded the company C$5 million for the expansion of its Distributed Energy Resource Aggregation (DERA) platform across North America. SDTC helps Canadian entrepreneurs develop and deploy globally competitive clean technology solutions.
Peak Power’s goal is to make dirty power plants obsolete by providing the tools for a decentralized power system that drives widespread adoption of renewable energy. The DERA platform is an evolution of their software that brings together battery storage, grid-interactive buildings, and electric vehicles for partners to pursue net-zero goals, reduce operating expenses, and unlock new business opportunities. income.
Working closely with SDTC, Peak Power’s DERA project will unlock untapped grid flexibility that is essential for the transition to 100% carbon-free energy. Distributed energy assets such as battery storage systems, solar, electric vehicles, and grid-interactive buildings, when aggregated, are a cost-effective way to reduce emissions and improve power system reliability. With this funding, Peak Power will expand its portfolio of projects in Ontario, California and Massachusetts. This funding will support the rapid scaling of its solutions in Canada and the United States.
“SDTC’s support will allow us to be even more ambitious as we scale our technology for our next stage of growth. SDTC is central to what makes Canada’s cleantech ecosystem unparalleled globally. It has been such an important part of Peak Power’s past, present and future,” says Derek Lim Soo, CEO of Peak Power. “This grant will help us achieve our mission to make centralized power plants obsolete, make the energy sector cleaner and increase our energy independence. We are beyond excited about today’s funding announcement and our deepening partnership with SDTC, which will help foster the clean energy future that all generations deserve.
“Businesses have the ideas that will help solve some of our planet’s most pressing environmental problems, but they can’t do it alone,” said Leah Lawrence, President and CEO of SDTC. “SDTC is proud to support innovative companies like Peak Power on their journey to commercializing their sustainable solution that global markets want and need.
For more information on how Peak Power and Sustainable Development Technology Canada are working together to support the clean energy transition, visit https://peakpowerenergy.com/ and https://www.sdtc.ca/en/.
About peak powerPeak Power is a Canadian clean technology company founded in 2015 operating in Ontario, New York, New England and California. Their flagship software, Peak Synergy, optimizes three core energy assets in the built environment: battery energy storage systems, grid-interactive buildings, and electric vehicle assets. Peak Synergy enables customers to minimize operating costs, reduce emissions and sell energy back to the grid. Peak Synergy is deployed across more than 10 million square feet of real estate, with approximately 90 MWh of battery and electric vehicle capacity under contract or committed. For more information, visit https://peakpowerenergy.com/.
About Sustainable Development Technology CanadaAt SDTC, we support companies trying to do extraordinary things. From seed funding to educational support and peer-to-peer learning to market integration, we are invested in helping our small and medium-sized businesses grow into successful businesses that employ Canadians coast-to-coast. . We relentlessly strive to help our businesses grow and evolve in an increasingly competitive marketplace. The innovations we fund help solve some of the world’s most pressing environmental challenges: climate change, regeneration through the circular economy, and the well-being of humans in the communities they live in and the natural environment with which they live. they interact. For more information, visit https://www.sdtc.ca/en/.
Contact informationJustin Williams Trevi Communications for Peak Power (978) 539-7157[email protected]
Source: Peak Power