Viridity Energy Poised to Make Next Generation of Smart Grid a Reality

SAN MATEO, Calif.--(BUSINESS WIRE)--Viridity Energy, a virtual power generation company that transforms large energy consumers into 24/7 virtual power plants, announced that is has been selected as a finalist for the first Innovation Competition at GreenBeat 2009, the seminal conference on the Smart Grid. With its VPower™ System, which continually optimizes a customer’s energy assets as a unified system in response to hourly wholesale power prices, weather, building usage patters and other data, Viridity Energy is making the next generation of the smart grid a reality.

“We represent a new paradigm in the relationship between energy users and power markets. We plan to be a leading force in the growing movement that is empowering organizations to take control of their energy consumption and costs by becoming active providers of real time demand response on the grid.”

“We are honored to be considered as one of today’s leading smart grid technology providers by GreenBeat’s Innovation Competition, which further validates the importance of integrating customer owned energy assets on the grid,” said Audrey Zibelman, President and CEO of Viridity Energy. “We represent a new paradigm in the relationship between energy users and power markets. We plan to be a leading force in the growing movement that is empowering organizations to take control of their energy consumption and costs by becoming active providers of real time demand response on the grid.”

A few weeks ago, President Obama announced more than $3 billion in stimulus grants to improve and “smarten” the national grid—pushing the concept of a modernized electricity network into the limelight. At the same time, the Innovation Competition invited organizations with products that promised to wield significant impact on the power grid’s ability to become smarter to pitch their ideas in front of a world class group of industry influencers at GreenBeat 2009. Viridity Energy was selected from more than 50 applications as one of the top ten innovations that will shape the future of the grid.

“Reflective of the growing public awareness for the smart grid, VentureBeat was impressed by the competitiveness of this year’s contest,” said Matt Marshall, founder and CEO of VentureBeat. “With Viridity Energy leading the way, we are confident that the technologies represented by these companies will drive the way to an efficient, carbon-reduced super grid with enormous potential to increase reliability of power delivery and reduce our carbon footprint worldwide.”

GreenBeat 2009 took place November 18-19, 2009, in San Mateo, California. More information on the GreenBeat 2009 Innovation Competition, along with this year’s winners, is available at http://events.venturebeat.com/greenbeat2009/.

About GreenBeat 2009

The seminal conference on the Smart Grid, GreenBeat 2009 will bring together leading entrepreneurs, investors, utilities, technology executives and policymakers to accelerate the development of a leaner, more efficient electrical grid. With a laser focus on new technology offerings, GreenBeat 2009 is the must-attend event in the space for discussion, debate and power networking. For more information about this event, hosted by VentureBeat, please visit http://events.venturebeat.com/greenbeat2009/.

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 new revenue streams while achieving sustainability goals and contributing 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.

About VentureBeat

VentureBeat, founded in 2006 to cover news and perspective about innovation for forward-thinking executives, has emerged to become one of the “best blogs on the Web.” according to the New York Times. It was recently called the most “influential business blog” by Text100, a public relations company that surveyed citations by mainstream news publications. VentureBeat runs several conferences, including GamesBeat, MobileBeat and GreenBeat. It also produces www.DEMO.com, the leading conference for emerging technology product launches.