REstore wins Ecosummit Late Stage Startup Award

REstore wins Ecosummit Late Stage Startup Award

Press release

Berlin, May 10th, 2017 – REstore, one of Europe’s leading energy technology companies, has won the Ecosummit 2017 Award. Part of the Ecosummit 2017 conference in Berlin themed 'Smart Green Unicorns made in Europe', the award recognizes the best 'smart green startup' in Europe.

Out of 32 nominated Late Stage Startups REstore took the Gold Award. REstore pitched at the event and partook in the panel 'Smart Green Unicorns made in Europe' with Sonnen, Envision Energy and Idinvest Partners.

This award adds to a series of recent awards recognizing REstore’s disruptive business model and unique and patented technology. The company had a 2294% revenue growth from 2014 to 2016 and is one of Europe’s fastest growing technology companies.

The ECO17 Award jury consists of smart green investors and corporates like that are actively looking for new investment and open innovation opportunities. The Awards Jury specifically acknowledged the significant environmental impact of clean virtual power plants.

REstore has developed its patented data-driven Industrie 4.0 solutions FlexPond™ and FlexTreo™ to help facilitate the growth of renewable energy by tuning power consumption of flexible devices in real-time to the availability of renewable energy. Consequently, there is significantly less need for polluting and carbon-intensive power plants to keep the grid in balance, reducing carbon footprint by the equivalent of hundreds of thousands of cars every year.

“Through artificial intelligence, including deep learning, FlexPond™ predicts behavior of household appliances and industrial machines as well as the availability of renewable energy. The resulting smart power control allows for cheaper and cleaner energy for energy consumers while facilitating the growth of renewable energy. It is an innovative, green solution that accelerates the transition to a more sustainable energy market”, say REstore co-CEOs Pieter-Jan Mermans and Jan-Willem Rombouts.

Earlier this year, REstore was named the Best Cleantech Company at CleanEquity Monaco 2017, got ranked at the 41st position of the Deloitte Technology EMEA Fast 500 and FlexPond™ was named 'Top Product of the Year' by Energy Manager Today.

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REstore is a leading energy technology company

REstore offers Demand Response programmes to Commercial & Industrial consumers and delivers cloud-based Demand Side Management software to Utilities. REstore is the leader in the fast-growing European Primary Reserve / Frequency control market and operates in all ancillary services and capacity markets in France, the UK, Germany, and Benelux. The company’s proprietary technology platform FlexPond™ is used by more than 150 of Europe’s largest commercial and industrial consumers and a range of utility clients, including five of Europe’s top-50 largest utilities and grid operators.

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