PEABODY, Mass.--(BUSINESS WIRE)--Convergent Energy + Power, a developer, financier, and operator of cost-effective energy storage assets, has been awarded the Energy Innovation Award at the 2016 Risk Management Summit in Las Vegas, NV. Energi selected Convergent to receive the award due to their pipeline of energy storage assets throughout the United States and Canada that to date have utilized lithium-ion batteries, lead acid batteries, flywheels and next-generation storage technologies.
“Convergent has established itself as a leader in the rapidly growing energy storage market by innovatively combining cutting-edge technology, pay-for performance utility contracts, and best-in-breed operational practices. They are creating a whole new class of value for utilities and electric consumers,” said Kevin Kaminski, Senior Vice President for Alternative Energy Solutions and International at Energi.
Convergent has developed energy storage systems providing real-time services and value to utilities, grid operators, and end-use electricity customers with over 50 MWs of grid-connected energy storage projects. The company is technology-neutral, and develops projects utilizing the most fitting energy storage technologies for each project application.
”Flexibility, scalability, and operating efficiencies are critical attributes we focus on when identifying strategic partners for our business and Energi has proven they are capable of just that. Although the energy storage market is growing exponentially, efficiently underwriting and mitigating the risks associated with new technologies, business models, and operating applications has traditionally been a challenge for the insurance industry. Energi’s program offering has provided us with the assurance that certain risks are properly identified and managed appropriately through insurance and other means, and we look forward to expanding the relationship as our pipeline of energy storage assets continues to grow,” said Frank Genova, Chief Operating and Financial Officer of Convergent.
Energi worked in conjunction with independent insurance agents Wells Fargo Insurance Services, a division of Wells Fargo. “Convergent has been an impressive company with their mastery of both technology and real world practical concerns. Dealing with new technologies and the associated risk exposures as well as the nuances between US and Canadian insurance structure kept us all on our toes. The Energi team did a great job supporting coverage and addressing the cross border insurance challenges,” said Nick Blaine, Senior Vice President at Wells Fargo Insurance Services located in St. Louis, MO.
Energi Inc. is the parent company for Energi Insurance Services, Inc. (MGA, Wholesaler & Program Manager), eRisk Solutions (LP Safety, Accident Recon, Environmental Management Services, Fire & Explosion Experts), eClaims Management (Claims TPA), eMarketing Strategies (Marketing Services Company) and eTech Services (Technology Services Company for the Insurance Industry). Through these companies, Energi offers specialized insurance programs along with support services meant to reduce client's long-term loss costs and enhance their productivity. Energi Inc. delivers these products to the market through a distribution strategy based on a regional network structure supported by a team of in-house sales professionals working in conjunction with 450+ independent brokers appointed in key markets.
About Convergent Energy + Power
Convergent Energy + Power is a technology-neutral energy storage asset developer with experience across a wide range of projects, from commercial and industrial applications to grid-connected systems. The company manages all aspects of the energy storage asset development cycle, including project-specific opportunity identification and economic evaluation, contract and financial structuring, engineering, procurement and construction (EPC), as well as operations and maintenance. For more information, visit www.convergentep.com or contact firstname.lastname@example.org.