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Peak Power receives $5 million from SDTC to roll out DERA platform in North America, The Canadian Business Journal

TORONTO, September 27, 2022 (GLOBE NEWSWIRE) — TODAY, maximum poweris a Canadian clean tech company developing energy optimization software to decarbonize the commercial and industrial building sector, announced: Sustainable Development Technologies Canada (SDTC) has awarded the company C$5 million to expand 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 purpose is to do away with dirty power plants by providing the tools needed for a distributed power system that accelerates the adoption of renewable energy. The DERA platform is an evolution of software that brings together battery storage, grid interactive buildings, and electric vehicles for partners to pursue their net-zero goals, reduce operating costs, and open up new revenue opportunities.

Working closely with SDTC, Peak Power’s DERA project will unlock untapped grid flexibility critical to the transition to 100% carbon-free energy. Distributed energy assets such as battery systems, solar PV, electric vehicles, and grid-interactive buildings, when aggregated, are a cost-effective means of reducing emissions and improving power system reliability. The funding will allow Peak Power to expand its portfolio of projects across Ontario, California and Massachusetts. The funding will help the company rapidly expand its solution across Canada and the United States.

“SDTC’s support will allow us to be even more ambitious as we scale our technology for its next phase of growth. It has played a very important role in Peak Power’s past, present and present future,” said Derek Lim Soo, CEO of Peak Power. “This grant will help deliver on our mission to make centralized power plants obsolete, make the energy sector cleaner and more energy self-sufficient. We are very excited to deepen our partnership with SDTC to advance the clean energy future we deserve.”

SDTC President and CEO Leah Lawrence said: “SDTC is proud to support innovative companies like Peak Power in their efforts to commercialize sustainable solutions that global markets want and need.”

Learn more about how Peak Power and Sustainable Development Technology Canada are working together to support the clean energy transition at https://peakpowerenergy.com/ and https://www.sdtc.ca/en/ please give me.

About peak power
Peak Power is a Canadian clean technology company founded in 2015 with operations in Ontario, New York, New England and California. The company’s flagship software, Peak Synergy, optimizes his 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 into the grid. Peak Synergy is deployed on over 10 million square feet of real estate with approximately 90 MWh of battery and electric vehicle capacity contracted or committed. For more information, please visit https://peakpowerenergy.com/.

About Sustainable Development Technology Canada
At SDTC, we support companies trying to do extraordinary things. From initial funding to educational support, peer learning and market integration, we invest to help small and medium-sized businesses grow into successful employers of Canadians. We work relentlessly to help companies grow and scale in an increasingly competitive marketplace. The innovations we fund can help solve some of the world’s most pressing environmental challenges: climate change, regeneration through a circular economy, and the survival of people in their natural environments as they interact with their communities. Happiness. For more information, please visit https://www.sdtc.ca/en/.

Contact Information
Justin Williams
Trevi communication for peak power
(978) 539-7157
[email protected]

CBJ Newsmaker

Peak Power receives $5 million from SDTC to roll out DERA platform in North America, The Canadian Business Journal

Source link Peak Power receives $5 million from SDTC to roll out DERA platform in North America, The Canadian Business Journal

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