Upside Energy named on the Global Cleantech100 Under the Radar list
January 26, 2016, San Francisco, USA – Upside Energy, who are focused on eliminating greenhouse gases by enabling people to make smart choices about when to use energy, have been named on Cleantech’s Under the Radar list. Now in its inaugural year, the list is published as part of their annual Global Cleantech100 (GCT100) program and was officially released during Cleantech Forum, held in San Francisco, January 25-27, 2016.
For a complete list of the companies named in the GCT100 Under the Radar list, please visit www.cleantech.com
For more information about the Cleantech Forum held in San Francisco, please visit events.cleantech.com
“This is a great result for Upside. Most people know that reducing their energy usage is a good way to reduce both household costs and environmental impact. What they don’t realise is that changing the time at which they use energy can also have a big impact. We’re building a platform to help them profit from these time shifts. Being named on the Global Cleantech100 Under the Radar list will help us get our proposition out to the world”.
Graham Oakes, Founder, Upside Energy
Upside pays people to not use energy. At peak times, the grid turns on all its oldest, dirtiest, most expensive power stations. It’d be a lot cheaper and greener to pay people to avoid using energy at these times. Schemes to do this are already available to large Commercial and Industrial energy users. Upside is building a cloud service that aggregates demand from domestic and small business sites and hence enables small energy users to participate in these schemes.
We do that by managing the energy stored in devices such as uninterruptible power supplies, batteries attached to solar PV arrays, electric vehicles, domestic heat pumps and hot water tanks, etc. We use IoT protocols to coordinate the charge and discharge cycles of this storage so as to shift demand from peak to off-‐‐peak times. The payments we open up in this way create a virtuous circle – they increase the value of energy storage, enabling people to buy more storage and thus enabling us to offer more services to the grid, distribution networks and energy suppliers.
Global Cleantech100: “Our inaugural Under the Radar list puts the spotlight on a group of companies that are “flying under the radar.” These companies have caught the eye of leading players in the market, but they may have some ways to go before their value proposition is more widely known. We will be releasing the list on January 26 in a special session featuring some of the companies on the list.”
Note for editors:
About Upside Energy – Upside Energy was founded in 2013 and was originated for the Nesta Dynamic Demand Challenge.
Upside pays people to not use energy by enabling households and small business sites to participate in schemes for “demand response”, where grid operators and energy suppliers pay people to shift their electricity usage from peak to off-peak times. By coordinating the energy stored in systems people already own e.g. uninterruptible power supplies, solar PV systems, electric vehicles, domestic heating systems, etc. Upside creates a large “virtual energy store” and uses this to balance supply and demand on the grid, thus making it easier to integrate renewable generation.
For further information about Upside Energy please contact Graham Oakes at firstname.lastname@example.org