Voltus Reinvigorates Customer Appetite for Demand Response, Secures Nearly 400 New MWs of DR
SAN FRANCISCO, May 1, 2017 /PRNewswire/ -- Voltus, Inc., a leading provider of cash-generating energy products, announced its first results from its July 2016 business launch today, highlighted by bringing nearly 400 MWs of new commercial and industrial demand response to markets throughout the U.S. and Canada.
"We kept hearing over and over from our customers, 'Savings, not software!' We founded Voltus because customers have big enough challenges managing their core mission, which typically doesn't include investing in software, staffing, and fee-for-services to 'treasure hunt' for energy savings. Our focus on cash savings delivered at no cost and no risk on a single-page agreement has reinvigorated customer interest in demand response," said Gregg Dixon, Voltus CEO.
Summary Results and Highlights from July 2016 through March 2017
Market and Customers
- Sold 400 MWs of new demand response contracts across all major North American energy markets, including ISO-NE, OPA, NYISO, PJM, MISO, ERCOT, AESO, and CAISO.
- Secured a multi-year, bilateral utility agreement with Enerlogics and Duquesne Light for 46 MWs as part of the Pennsylvania Act 129 program.
- Became first Aggregator of Retail Customers (ARC) to bring MWs into the MISO planning reserve auction (PRA), clearing more than 300 MWs of zonal resource credits (ZRCs), and opening a new, 10,000 MW+ market for third party aggregators.
- Established multi-year utility and supplier relationships in MISO outside of the PRA to sell ZRCs bilaterally, protecting customer demand response value.
- Initiated new agreements with more than 60 national accounts, across 15 states.
- Enabled nearly 600 sites to participate in demand response, from 6 kW quick serve retail customers to 20 MW steel foundries.
Technology Platform
- Developed and commercialized the Voltlet™ hardware platform to support capacity, energy, and ancillary services demand response with a bill of materials of less than $100 per unit, including end-to-end encryption of telemetry data over a secured cellular VPN.
- Launched its native, cloud-based energy management platform, VoltApp™, to support demand response, energy procurement, and energy efficiency for commercial and industrial customers.
- Introduced VoltMarket™, a distributed energy resources (DER) platform used to monetize DER assets in any energy market in capacity, energy, and ancillary services, targeting energy storage, distributed generation, demand response, and virtual energy trading.
- Achieved OpenADR compliance and finalized interoperability with a number of technology and marketing partners.
Financial
- Secured an estimated, total contracted revenue and gross margin backlog of $20 million and $8 million, respectively.
- Self-funded early results and now actively seeking strategic financial partners to support aggressive growth opportunities to scale the business.
"We threw down the gauntlet. This remains an enormous market opportunity with tremendous growth potential. But customers are struggling to get as much value as they deserve. The simple, transparent value we offer our customers is being received well. We offer 'less energy, more cash,' delivered by leading energy experts, which allows our customer to focus on their core business," said Matt Plante, Voltus President.
To learn more about Voltus, visit www.voltus.co or email [email protected].
About Voltus, Inc.
Voltus represents the "potential of us" to better manage energy through simple, cost-free energy management products. Our commercial and industrial customers generate cash by allowing us to be their energy expert while we deliver innovative demand response, energy purchasing, and energy efficiency programs to them. It's this simple: A customer signs up with Voltus, and every quarter we deliver dollars. Voltus makes money when our customers make money by sharing the cash generated from working together. What's more, there are significant community benefits that accompany working with Voltus — a cleaner, more-reliable energy future and dollars invested back into your business and jobs instead of being wasted on a larger energy bill.
Voltus Media Relations:
Gregg Dixon
617-283-9387
[email protected]
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SOURCE Voltus, Inc.
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