Palm Energy to utilize its Virtual Utility® IQ to provide Reliability and Energy Cost Savings.
BONITA SPRINGS, FL, January 30, 2023 – e2Companies’ Palm Energy (“Palm”), a provider of comprehensive energy solutions and services has announced the acquisition of several Behind the Meter (BTM) solutions from NRG Energy, Inc.(NYSE: NRG), the leading integrated power company in the United States. The acquired portfolio includes approximately15 MWs of commercial and industrial customers located in PJM and New England which will increase Palm’s managed MWs in those markets. Palm Energy will own, operate, maintain, and optimize the microgrids to reduce energy costs while providing reliability to the customers and the grid.
“Our ability to leverage assets in the energy market on behalf of our customers is unmatched," states Palm Energy's Co-Founder and President, Steven Moffitt. “We can reduce the customer’s energy cost while at the same time provide resiliency. We do this by participating in market programs across North America, managing power and gas supply agreements, and verifying operational and financial performance through our Virtual Utility® IQ platform.”
e2 Companies’ Palm Energy brings to market a single-source solution for our customer’s complete energy needs by optimizing BTM assets through its 24/7 Network Operations Center (NOC) and Virtual Utility® IQ platform. This solution utilizes e2 Companies’ Patented R3Di® (“Ready”) System to provide resiliency and reliability to utilities and C&I customers through an ESG offering that combines safe and reliable fast-discharge batteries with ultra-low emission continuous rated natural gas engines that are ready for Renewable Natural Gas or can be modified to utilize Hydrogen blends.
“The NRG asset acquisition is a great affirmation of Palm Energy’s influence and ability to optimize BTM solutions, reduce energy costs, and provide sorely needed reliability to our customers, and the grid alike. This transaction is a big step in our growth and ability to stabilize an increasingly taxed grid,” says James Richmond, President and CEO of e2 Companies.
Mr. Moffitt states, “A combined offering of Palm’s services coupled with e2 Companies’ Patented R3Di®, and technical services can unlock more than just energy savings. Our R3Di® technology provides customers with turnkey reliability while enabling the transition to a zero-carbon future.”
Together, e 2Companies and Palm Energy utilize the Virtual Utility® IQ to provide comprehensive energy solutions and services to businesses with a primary focus on solving customers’ most challenging reliability and energy management needs. e2Companies have developed a full range of products and services, from simple catalyst systems and Best Available Control Technology (BACT) to complete essential primary and emergency power systems. e2 Companies’ Palm Energy is the first vertically integrated Distributed Generation firm and are headquartered in Bonita Springs, FL.
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