REstore wins Belgian Business Award for the Environment
BRUSSELS – 23 FEB 2016 – REstore, the European leader in automated Demand Response, won the Belgian Business Award for the Environment 2016 in the Product category. The award was handed-out by the Belgian Minister of Energy, Ms. Marghem, during an award ceremony held in Brussels on Monday 22nd of February.
REstore was awarded the Belgian Business Award for the Environment 2016 (BBAE) for its innovative patent-protected software platform FlexPond™, offering an alternative way to balance the grid in real-time through demand side response, rather than through gas-fired power plants.
FlexPond™ is a software product that offers a large-scale, reliable virtual power plant (VPP) to energy utilities and transmission grid operators, aggregated from fragmented flexible ‘decentral’ machines at Commercial and Industrial consumers. The VPP produced by FlexPondTM is disruptive, as it is a 100% substitute of a gas-fired peak power plant, but (i) it is cheaper than a physical gas-fired power plant and (ii) it emits structurally less CO₂ than a physical gas-fired power plant, as it is based on the principle of not consuming energy (demand curtailment).
Jan-Willem Rombouts, co-ceo at REstore, comments: “To strengthen the European economy, businesses should strive to put eco-innovation at the heart of their business model. This is an excellent recognition for REstore and its customers who prove that environmental and business performance can go hand in hand.”
Following the award in Belgium, REstore goes on to compete in the European Business Awards for the Environment 2016/2017 (EBAE), a prestigious contest hosted and organized by the European Commission. The EBAE celebrates those companies at the forefront of eco-innovation in Europe.
Founded in 1973, FEB is Belgium's largest employers’ organization. As the only cross-industry association, FEB represents more than 50.000 companies from the 3 Belgian regions. Along with the 3 sector federations, FEB promotes and defends the interests of all those companies in about 150 federal, European and international bodies. The primary objective is unanimous commitment to a healthy business and investment climate, based on the values of social market economy, sustainable development, business ethics, corporate governance, consultation and self-regulation.