CAMBRIDGE, ONTARIO--(Marketwired - Feb. 19, 2014) - Eco-Shift Power Corp (ECOP) has signed a Letter of Intent (LOI) with Buffalo Watt to build its exclusive software program. A leader in the design and development of energy efficiency and management software, Buffalo Watt is an integral part of ECOP's virtual power plant platform that will provide a truly sustainable profit center for its clients.
The virtual power plant platform will provide commercial/industrial energy users with the ability to transform their facilities into smart, energy efficient and cash-flow-positive buildings. This is accomplished by ECOP's state-of-the-art, IP-addressable light fixtures that will have wireless communication. ECOP's software platform can then communicate with these lights and reduce energy when there is a peak demand event based on the software-embedded algorithms managing the facility. This service will be managed by Eco-Shift Power on a 24/7 basis.
With a foundation in new-era LED lighting, as well as wireless and web-enabled technologies, Eco-Shift Power will be capable of transitioning clients' buildings from old fixed technology to the new information age, via ECOP's proprietary software.
"Our new demand response and load shedding software will provide our clients the ability to reduce electricity consumption to offset peak-demand events and participate in government energy rebate programs," says ECOP CEO Gib Wood. "Our platform and software will meet the needs of the emerging two-way partnerships between utilities and consumers, as well as develop new three-way partnerships between utilities, consumers and Eco-Shift Power."
Eco Shift Power's virtual power plant platform improves a building's lifespan and performance by "identifying problems when they occur and provides instant energy efficiency plus real-time remote control of facilities' energy, anywhere in the world," says Wood. "By implementing the platform, we provide real cost savings, reduce emissions and enhance the environment of the building and the productivity of its occupants by making it safer and more efficient, resulting in better quality control output."
"Our customers save money while evolving their facilities towards smart buildings. That gives them significant financial and competitive advantages," says Wood. "Customers such as Costco, Thyssen Krupp and BMW have been able to reduce energy costs-often by more than 50%-improve carbon footprint, monetize their lighting and HVAC assets and become financially agile in an ever-changing, volatile energy marketplace."
Eco-Shift Power and Buffalo Watt's leadership bring over 100 collective years of specialized expertise on energy markets, energy conservation, smart building development, regulatory knowledge, government & utility incentive programs, software intelligence and a broad based network of energy industry relationships that can be leveraged to bring solutions and truly sustainable profits to their clients throughout the world.
Enabling Demand Response Programs
Demand response (DR) programs are evolving due to the high cost of energy and to the ever-increasing need to reduce environmental footprint.
By enabling client participation in government-sponsored demand response programs, the Eco-Shift Power virtual power plant platform can create re-occurring revenues. During a period of high electricity demand a 'push of a button' by Eco-Shift Power reduces a client's energy costs and delivers revenue every time they curtail their energy load. "We call that truly sustainable profits," says Wood. "Saving energy and money at the same time."
According to Navigant Research, "As old coal and nuclear plants close, clean replacements are needed that can be online quickly. Conversely, as large-scale intermittent renewable resources like wind and solar power fill in this gap, they require backup solutions when the wind is not blowing and the sun is not shining. Both of these situations call for flexible resources, and automated demand response (ADR) has great promise to meet these needs."
As the power grid moves away from traditional central power plants and toward more distributed energy resources, DR is a growing part of the resource base that electric system operators use to maintain grid reliability. Navigant predicts the number of ADR-equipped sites worldwide will grow from fewer than 217,000 in 2014 to more than 1.9 million by 2023.
About Buffalo Watt
Based in Buffalo, NY, Buffalo Watt has been building and delivering leading-edge software and technology solutions for the last 20 years. Learn more about the company's solutions at http://buffalowatt.com/.
About Eco-Shift Power
Headquartered in Cambridge, ON, Eco-Shift Power Corp. (ECOP) develops best-in-class commercial/industrial lighting products, wireless energy management technologies and solutions implementation. As an emerging technology smart building energy management facilitator, ECOP procures, assembles, sells and distributes high-efficiency lighting products, along with other integrated energy management products such as online monitoring and verification reporting tools, direct load controls, activity monetization instruments, and demand response. All are delivered via Software-as-a-Service (SaaS).
Core ECOP competencies include LED expertise, microprocessor/Transmitter/wireless capability - with IP addressability creating an intelligent light and a sustainable management service platform that includes five areas for client revenue generation or costs savings:
- reduce load during peak pricing
- manage demand response programs
- manageability of fixtures to reduce load
- maintenance and management
Learn more at http://eco-shiftpower.com/.