The novel approach of combining large lithium ion-batteries and an UPS system ensures stable onsite electricity supply for manufacturers and data centers, while reducing energy costs. The systems will first be rolled out at customer sites in Ontario and may later spread throughout North America.
Star America, the lead investor, manages capital from U.S. pensions, insurance firms, asset managers and construction firms. As a developer and manager of greenfield infrastructure assets, Star America said it had been “impressed by Demand Power’s management and their commitment to delivering innovative energy solutions.”
Christophe Petit, President of Star America said the deployment of Demand Power’s energy storage solutions will “lower energy costs, improve grid resiliency, and reduce energy consumption from the highest emission sources during peak use periods.”
Software to supplement storage
Several rival developers are rushing to develop and launch new solutions for software and storage for real time behind-the-meter energy management. Demand Energy, not to be confused with Demand Power, had a similar business plan and offering before being bought by Enel in 2017.
Greensmith, another software and energy storage integrator, was acquired by Wärtsilä in the same year. The behind-the-meter energy storage startup Stem is reportedly up for sale, attracting significant buyers’ interest.