NEW MILFORD, Conn. & SINGAPORE--(BUSINESS WIRE)--Demansys Energy LLC, a demand-side energy innovator focused on enhancing the smart grid, has announced that it has purchased a controlling interest in CPvT Energy Asia Pvt. Ltd, based in Singapore. CPvT, which was a fully-owned subsidiary of vTrium Energy Pte Ltd, Singapore prior to the Demansys acquisition of shares, has pioneered demand response in Asia by offering customers a turnkey method of entering into lucrative demand response programs with the local utility.
“Demansys has been at the forefront of smart grid technology and is committed to ensuring our customers receive economic benefits while enhancing the smart grid and the environment,” said Jeff Lines, CEO of Demansys. “We think there is a great opportunity to develop new demand response solutions in Asia, and CPvT is a proven leader in this area. We look forward to supporting the leadership team in Singapore and ultimately expanding demand-side management services in Asia.”
Demansys Energy harnesses the inherent ability of a company’s power-intensive equipment to participate in the frequency regulation and reserves markets using smart grid technology. Managing energy assets in near real time, the Demansys Grid Daemon Platform adjusts the energy usage of commonly-used equipment and storage resources without negatively affecting process or product to respond to the requirements of the grid operator. CPvT’s product offering has been beta tested over the last three-years through a study, partially sponsored by the Singapore Energy Market Authority. The beta testing revealed opportunities to enhance energy price stability in Singapore.
The new name of the company will be CPvT Demansys Energy Pte Ltd and will be led by CEO Vijay Sirse, who is also the Chairman & CEO of vTrium Energy Pte Ltd and the founder of CPvT Energy Asia Singapore.
“CPvT is proud to be the first company in Singapore to have successfully demonstrated the use of demand-side resources in the power market. It was important for us to align with a world-class leader in demand-side energy solutions, which is why we chose Demansys,” said Vijay Sirse. “I look forward to collaborating with the Demansys team, as we work to develop new demand-response solutions and help companies realize the benefits of participating in these programs.”
CPvT plans to enroll 200 – 300 MWs of demand side resources, from all three market segments, in the Singapore markets. To realize this objective, CPvT plans to invest about USD5 million and increase staffing to 16 employees at the headquarters in Singapore. There will be further investments when CPvT starts developing markets in other Asian countries, by benchmarking the successful implementation in Singapore.
Mr. Goh Chee Kiong, Executive Director, Cleantech, Building & Infrastructure Solutions from the Singapore Economic Development Board said, “We are pleased that vTrium Energy and Demansys are partnering to develop new demand response solutions in Singapore. Demand response represents a new growth opportunity through actively managing the consumption of energy consumers, and is aligned with Singapore’s focus to develop sustainable energy management and smart grid capabilities. Leveraging Singapore’s strengths in systems integration and whole-of-government coordination, we believe that Singapore can be a platform for companies like CPvT Demansys Energy to develop, test and commercialize innovative urban solutions for global markets.”
About vTrium Energy
vTrium Energy offers Energy Management, Distributed Power Generation and Energy Advisory Services to its clients in Asia. The Energy Management services are offered through CPvT; the Distributed Power Generation is offered through its subsidiary Prakruti Power; and the Project Finance Advisory Services are directly carried by vTrium Energy. vTrium’s business goal is to offer unique value innovations in all its three business segments using blue ocean strategies and successfully creating new markets. For more information, visit www.vtriumenergy.com.
About Demansys Energy
Demansys Energy provides a turnkey solution for advanced control of energy usage, which creates additional revenue streams for its customers. The company develops smart grid technology to better manage the electric grid. The Demansys Grid Daemon Platform was developed to continuously communicate with system operators and Demansys customers to seamlessly control demand-side energy resources in real-time, using sophisticated proprietary algorithms. Demansys Energy strives to help consumers connect to and benefit from the smart grid. For more information, visit www.demansys.com.