Greensmith Energy Secures Market Leader Position—Reaches 70 Megawatts of Energy Storage
Greensmith Energy, one of the largest providers of energy storage software and turn-key solutions, announced 70 megawatts of energy storage deployments – all powered by the company’s proven GEMS software platform. While most of the capacity was integrated and installed by the company over the past two years, Greensmith is also reporting growth in software licensing as punctuated by the 53MWh software-as-a-service contract awarded earlier this year by Deltro Energy. Greensmith is on track to install over 100 megawatts of energy storage in 2016 after announcing last December, an $18.3 million round of growth funding led by American Electric Power and E.ON. Advanced, grid-scale systems delivered to large power producers and utilities drove most of the cumulative total, however, the company notes increased microgrid and behind-the-meter business in locations such as Puerto Rico and San Diego where the company deployed solar-integrated systems in 2015.
“While the industry focused on alternative battery chemistries, Greensmith concentrated from day one on developing the most advanced energy storage platform and software necessary to solve the largest, most complex grid applications for energy storage,” said Greensmith President & CEO John Jung. “The successful execution of this difficult technology strategy has yielded five generations of our GEMS software platform, brought significant growth to the company and delivered compelling value to a growing number of customers and partners. From a behind-the-meter, solar-integrated microgrid in Puerto Rico to large-scale frequency regulation in PJM to utility grid reliability in Southern California – Greensmith is gaining a reputation as the technology partner of choice as the market grows.”
The diversity of over 40 deployments has allowed the company to advance its industry-leading GEMS software platform to now offer seven different stackable application modules for energy storage including frequency regulation and response, microgrid, solar integration with ramp rate control and grid reliability/deferral. The GEMS platform has also successfully integrated fourteen different batteries and ten power conversion systems, allowing customers to take advantage of leading-edge componentry specified for each deployment – both today and in the future. The company also reported process efficiencies resulting in the recent completion of an 18MW system in under six months from start to successful commissioning.
As the leading provider of energy storage software and integration services, Greensmith's mission is to make energy storage a fundamental part of a cleaner, intelligent and distributed energy infrastructure. Now in its fifth generation, Greensmith's GEMS software platform optimizes the performance of energy storage by lowering costs and maximizing return on investment throughout the life of the system. Over one-third of all energy storage capacity installed in the United States is powered by the GEMS platform. In 2015, Greensmith was selected as the fastest growing energy storage company by Inc 5000 and Deloitte Fast 500. GEMS is currently used by more than 30 major power firms globally on both sides of the meter. Learn more at www.greensmithenergy.com .
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