Icetec and RENEW Join Forces to Advance Decarbonization in Northeast

Partnership delivers comprehensive BESS and microgrid solutions through 3^rd party funding

BOOTHWYN, Pa., Dec. 19, 2024 /PRNewswire/ -- Icetec Energy Services (Icetec), a market leader in cutting-edge energy optimization software, has partnered with RENEW Energy Partners (RENEW), an innovative provider of project funding and turnkey energy solutions, to develop, fund, and manage advanced energy projects. This collaboration delivers battery energy storage systems (BESS) and microgrids to enable energy intensive customers - including manufacturers, hospitals, data centers and universities – reduce costs, enhance resiliency and cut carbon emissions all without requiring upfront capital expenditure.  

Specifically, RENEW evaluates each customer's goals and energy needs to identify the technologies and efficiency measures best suited to achieving those objectives. Icetec then develops a model of the proposed systems savings, revenue, and carbon reduction using its full-stack energy management SaaS platform. RENEW installs and manages the assets, eliminating the need for the customers to allocate CAPEX by fully funding the project. Once operational, Icetec's full-stack energy management SaaS platform optimizes the assets to maximize revenue and savings, while minimizing carbon. With high demand, the partnership has developed a pipeline of $100M in BESS and related projects.

Using predictive analytics and adaptive algorithms, Icetec's platform enables coordination and optimization of revenue streams by serving as the lead market participant for ISO market programs, managing utility demand response programs as the Curtailment Service Provider, optimizing for state programs like the Clean Peak Standard, dispatching for on-site peak load reduction, and help to reduce a site's carbon footprint. As an example, this partnership can help Northeast customers participating in Eversource territory save more than $250,000 per MW per year by using technology to intelligently dispatch BESS assets.

"RENEW's mission to decarbonize and their impeccable customer success record make them an ideal partner for us to help the growing customer base throughout the Northeast achieve their building-specific energy targets and overall financial goals," stated Matthew Wolfe, VP, Business Development, Icetec. "We are excited that our advanced energy management platform, designed to automate the dispatch of BESS and other DER assets, will be leveraged to make these market opportunities accessible to more companies."

"Our Partnership with Icetec combines RENEW's financial expertise and turnkey project delivery with the best technology platform to leverage distributed generation assets," said Charlie Lord, Principal, RENEW. "Together, we're not just helping customers lower costs – we are providing a seamless transition to meaningful decarbonization"

With more than 20 years of experience optimizing energy assets, Icetec's full-stack energy management SaaS platform leverages predictive analytics to prioritize opportunities, such as reducing carbon, increasing savings, or boosting revenue. The platform uses its control engine, powered by adaptive algorithms to automatically communicate with energy systems and manage the corresponding asset, as well as handle ISO bidding, settling, and reporting.

About Icetec Energy Services

Founded in the early 2000s, Icetec Energy Services has consistently delivered innovative energy solutions to meet the growing global demand for sustainability. Starting off using freezers as batteries (hence, the name Icetec), the company has continuously evolved and advanced to offer a predictive analytics and optimization platform with a comprehensive tech stack for sophisticated DER management and microgrid deployment. Utilizing a big data infrastructure, Icetec Energy Services is able to automate plant dispatch, market bidding & settlement process, plant efficiency, and greenhouse gas reporting. Today, more than 200 MW are managed by its full stack energy management SaaS platform, spanning over 40 customers, including blue-chip clients in pharma, leading research universities, top C&I companies, and energy developers.

About RENEW Energy Partners, LLC

Founded in 2013, RENEW Energy Partners provides funding and engineering solutions for commercial and industrial, as well as institutional clients to help them achieve their decarbonization objectives. RENEW supports clients in reducing greenhouse gas emissions through a diverse range of projects, from efficiency upgrades to advanced energy generation solutions. All projects are designed to enhance sustainability without requiring upfront capital investment.

SOURCE Icetec Energy Services