AutoGrid Announces Record Year with Two Gigawatts of Distributed Energy Resources Under Contract

REDWOOD CITY, CA--(Marketwired - Jan 25, 2017) - AutoGrid Systems, the leader in Energy Internet software, today announced a record year that saw rapid adoption of its flexibility management application suite, AutoGrid Flex™, with its distributed energy resource (DER) capacity under contract growing 350 percent, from 550 megawatts (MW) to 2 gigawatts (GW). 2016 marks the second successive year in which AutoGrid has increased its DER capacity under contract by more than 350 percent -- DER capacity under contract increased from 150 MW in 2014 to 550 MW in 2015.

The DERs managed by AutoGrid Flex include a wide variety of flexible energy assets across all customer segments -- residential, commercial and industrial. DERs currently managed by AutoGrid Flex include demand response and pricing programs, energy storage systems, combined heat and power (CHP) units, distributed solar power systems, smart inverters, smart thermostats, water heaters, pool-pumps, residential EV chargers, heating ventilation and air conditioning (HVAC) systems, building lighting systems, and industrial control equipment.

In addition to the exponential growth in DER capacity under contract, AutoGrid won 100 percent of the competitive bids for demand response management systems (DRMS) that went through an open RFP process in 2016. In total, AutoGrid added fifteen new customers, across both regulated and deregulated energy markets, and saw more than 100 percent year-over-year growth in total bookings and annual recurring revenues in 2016.

In 2016 AutoGrid also launched AutoGrid Flex 3.0, the energy industry's first comprehensive flexibility management solution for demand response (DR) management, distributed energy resource management and virtual power plants (VPPs). AutoGrid Flex 3.0 features several new energy storage co-optimization capabilities that enable energy service providers to maximize the value of energy storage systems at the local site level, manage energy storage assets in combination with demand response and other types of DERs, and optimize aggregation and dispatch from a portfolio of energy storage and other DERs. These capabilities enable energy service providers to use energy storage to realize multiple business objectives, dramatically improving energy storage project economics while also increasing flexible capacity at the grid edge.