LONDON, Feb. 6, 2019 -- Based on its recent analysis of the European demand response (DR) market, Frost & Sullivan recognises GridBeyond with the 2019 European Technology Innovation Award for developing advanced DR solutions for large commercial and industrial (C&I) users. The company's flagship software solution leverages cutting-edge technologies such as artificial intelligence (AI), Internet of Things (IoT), and Big Data analytics to enable consumers to participate in a wide range of DR and enhanced energy services programs.
"GridBeyond's technology platform helps balance the electricity grid, aids the integration of more renewables, and optimises the plans, designs, and finances of both existing and new plants," said Swagath Navin Manohar, Senior Research Analyst. "In integrating customers' storage batteries into its virtual power plants (VPPs), GridBeyond has formed the world's first hybrid battery and DR network. In addition, it trades customers' capacity and the electricity generated in the European energy markets and offers ancillary services to help balance the transmission system."
GridBeyond stands out from other DR providers in generating new revenue streams for customers without requiring them to change their onsite hardware, as its solution is technology agnostic, vendor independent, and tailor-made based on the customers' business size and types of assets. Furthermore, as DR in Europe transitions from a centralised market to a more localised market, the platform will prove highly valuable due to its ability to offer asset-by-asset and site-by-site analytics, reporting, and benchmarking across every area of energy management and demand-side response.
GridBeyond's unified platform allows customers to deliver various energy market services, such as balancing services, capacity, smart tariffs, energy trading, and enhanced on-site energy services, through a single solution. It has been successfully deployed at hundreds of sites in the United Kingdom and Ireland for numerous market majors, including Kellogg's, National Health Service (NHS), Northern Ireland Water, and the Ardagh Group.
"GridBeyond plays a central role in bringing together all stakeholders, including grid operators, intensive energy users, suppliers, distribution networks, and battery providers, to solve the issues inherent in balancing the grid. For end users, it presents the technology, expertise, and experience needed to optimize returns, while for grid operators, it presents a technical solution to meet the challenge of grid balancing, thereby minimizing the costs associated with achieving a truly balanced and smart' grid," noted Manohar. "GridBeyond is expected to maintain its market leadership position due to the high revenues from its platform, effective site utilisation, and low carbon footprint."
Each year, Frost & Sullivan presents the European Technology Innovation Award to the company that has developed a product with innovative features and functionality that is gaining rapid acceptance in the market. The award recognises the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
GridBeyond, founded in 2007, is the leading provider of demand side response, intelligent energy services and flexibility solutions for industrial and commercial organisations.
Energy, financial and operational stakeholders are empowered to deliver performance, sustainability and cost optimisation via the cloud-based machine learning platform.
With a wealth of engineering and technology expertise, GridBeyond delivers a complete energy solution from install to insights.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.