Viridity Energy Partners with Universities and Utilities on Applications for ARRA Stimulus Funding
CONSHOHOCKEN, Pa.-(Business Wire)-September 8, 2009 - Viridity Energy announced today that it is participating in major projects across four States that have been proposed to the US Department of Energy for funding under the American Reinvestment and Recovery Act. Viridity has been chosen as a partner on grant applications filed by Con Edison, the State of New Mexico, San Diego Gas and Electric, Drexel University, Penn State University and PECO Energy Company.
Viridity Energy is a virtual power generation company that transforms large energy consumers into 24/7 virtual power plants - increasing energy efficiency, decreasing energy costs and creating continuous revenue that enables the attainment of economic and sustainability goals. Receipt of these grants will allow Viridity and the company’s partners to implement smart grid technologies at a variety of buildings and campuses. Grant recipients will be announced in October and November, 2009.
Viridity is a partner on the following grants in the following states:
- In Pennsylvania: Viridity is working with Drexel University, Penn State University, University of Pennsylvania and PECO Energy on three projects that will demonstrate the value of integrating both distributed resources and controllable load onto the electric grid as predictable, reliable resources.
- In California: Viridity is working with San Diego Gas and Electric Company and University of California at San Diego to demonstrate the value of dispatching a sophisticated campus micro grid as a virtual generator.
- In New York: Viridity is working with Con Edison and the City of New York Economic Development Corporation to optimize advanced building technologies and solar generation from City owned properties, such as the Brooklyn Army Terminal, into clean, virtual power generation.
- In New Mexico: Viridity is part of the state’s Green Grid Initiative, which will serve as a national model on how to develop and sustain a smart, green electricity grid using the best technology.
In each of these projects, Viridity will demonstrate how dynamic load optimization can be used to help building owners, utilities, and universities create virtual energy generation. Customers will be able to manage power costs while providing reliable service to the national energy grid. Under the proposals, a two-way interface using secure communication channels will be created between the end-users’ resources and the grid through Viridity’s VPower™ System.
“Viridity is honored to partner with this diverse group of distinguished parties,” said Audrey Zibelman, President and CEO of Viridity Energy. “We look forward to demonstrating, along with our partners, the significant value that investments in smart grid technologies will produce for a wide range of stakeholders, including investors, end-users, utilities, and the operators of the nation’s electric grid.”
Viridity’s VPower™ System provides customers with access to an advanced software platform that evaluates the customer’s overall energy load and optimizes their energy usage on a 24/7 basis. The goal is to integrate and aggregate customers’ load, storage and on-site generation resources into a virtual generator that can be used as a reliable resource in the wholesale energy markets and on the grid.
With the VPower™ System, building owners are able to continuously and automatically optimize their systems with the assistance of day-ahead schedules and real time re-optimization. It also add to the economic value of the resources to the building owner through increasing the amount of hours that the owner can achieve savings and revenues from the power markets.
About Viridity Energy
Viridity Energy provides large energy consumers with powerful tools to increase energy efficiency and decrease energy costs. Viridity’s unique and flexible VPower™ platform enables customers to dynamically shift and balance energy load, integrate advanced energy technologies and convert existing energy investments into lucrative new revenue streams. Viridity helps organizations achieve sustainability goals and contribute to the greater good by stabilizing energy price fluctuations. Headquartered in Conshohocken, Pennsylvania, Viridity was founded in 2008 by former executives of PJM Interconnection. For more information visit www.viridityenergy.com
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