“We are pleased to be named among this innovative group of global companies delivering value in many sectors,” said Peter L. Corsell, President and CEO of GridPoint. “This is an exciting time in the energy industry, where GridPoint is working to transform the electric grid into more intelligent and efficient delivery network.”
GridPointÂ’s innovative smart grid platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed resources (e.g., advanced load control devices, batteries, solar systems) that reside at the home or business. Additionally, the platformÂ’s modular, scaleable and upgradeable architecture enables utilities to integrate new clean energy technologies (e.g., plug-in hybrid electric vehicles and fuel cells).
During peak demand periods, the platform enables utilities to efficiently balance supply and demand by discharging stored energy or reducing loads with minimal impact on customers (i.e., controlling temperature versus shutting down air conditioners). The intelligent network serves as a virtual peaking power plant, enabling utilities to avoid the regulatory, environmental and “time-to-build” hurdles associated with building traditional power plants while fueling the mass adoption of renewable energy, reducing carbon emissions and conserving fuel, capital and land resources.
GridPoint has received recent recognition including being selected as a World Economic Forum Technology Pioneer 2008. The company was also named overall winner by AlwaysOn GoingGreen 100 Top Private Companies for 2007 and winner of the 2007 North American Frost & Sullivan Award for Green Excellence in recognition of its success in pioneering a way to harness load management and distributed generation to achieve environmental sustainability.