REstore is a leading energy technology company
Who is REstore?
REstore is an award-winning energy technology company leading the delivery of advanced automated Demand Response. The company offers Demand Response programmes to Commercial & Industrial consumers and provides cloud-based Demand Side Management software for Utilities.
For many years the company has been the leader in the fast-growing European Primary Reserve / Frequency Control markets and operates in all ancillary services and capacity markets in Europe. The company’s proprietary platform Flexpond™ is used by more than 125 of Europe’s largest industrial energy consumers, and a range of utility clients that include five of Europe’s top-50 utilities and grid operators.
REstore, founded by Pieter-Jan Mermans and Jan-Willem Rombouts, is a privately held company. Its current shareholders include cleantech fund LRM, Axe Investments, Ark Angels Fund and a number of prominent industrial families and entrepreneurs.
What does REstore do?
For commercial and industrial consumers, REstore sources flexible power across a wide portfolio of business sectors including chemicals, steel, paper, cement, non-ferrous and food. By 2015 REstore had 500 MW of 99.8% reliable flexible power under management. Peak load under management exceeded 1.5 GW. Industrial consumers maximising their Demand Response revenues with REstore include ArcelorMittal, Total and Sappi.
REstore offers its highly available “flexible power” to Transmission System Operators in France, the United-Kingdom, Benelux and Germany. REstore does not generate power (“Megawatts”), but intelligently reduces consumption (“Negawatts”). So while helping to secure continuity of supply, REstore is effectively reducing CO₂ emissions as part of its mission to help combat climate change.
Complementing its aggregator business, REstore also sells its Flexpond™ platform as “Software as a Service” across the globe, allowing utilities to engage with their large users on Demand Response and create their own virtual power plants to bid into reserve markets, ranging from capacity markets over tertiary reserve all the way up to primary reserve - where the most value resides.
REstore’s patented cloud-based software platform also makes it possible for such utilities to engage with their commercial and industrial clients through Demand Response, and gradually complement their commodity business with higher-margin smart grid related services.