Frost & Sullivan, the leading global research, analytical and consultancy company has named GridBeyond as the winner of the 2019 Technology Innovation Award. The award is for the development of the intelligent energy technology platform that enables industrial and commercial consumers to participate in enhanced energy services and programmes.
The experts forecast that GridBeyond will maintain its market leadership position in the years to come.
The Award is a part of the globally recognised Frost & Sullivan Best Practices Awards given annually to businesses with outstanding accomplishments, which “Technology Attributes” and “Predicted Future Business Place” make them exceptional in their industries.
The panel of experts at Frost & Sullivan reached its decision through the independent, ten-stage evaluation process and competitive benchmarking. This included, among others, extensive analysis of the company’s industry impact, scalability, financial performance and customer acquisition. Through the rigorous research process, Frost & Sullivan identified that GridBeyond consistently pursues and invests in new technologies, enabling the company to serve its customers more effectively and grow above the industry average. This led the industry experts to forecast the company’s expansion and further growth of its market position:
“From an economic perspective, GridBeyond is expected to maintain its market leadership position for years to come based on high revenues generated from the GridBeyond Technology Platform, effective site utilisation, and low carbon footprint”, said Frost & Sullivan in the Award’s justification paper.
The experts highlight the dominant position of GridBeyond in the European demand side response market by pointing out its advantages against competitors:
“GridBeyond stands out from other DR providers in generating new revenue streams for customers without requiring them to change their onsite hardware, as its solution is technology agnostic, vendor independent, and tailor-made based on the customers’ business size and types of assets.
“Furthermore, as DR in Europe transitions from a centralised market to a more localised market, the GridBeyond Technology Platform will prove highly valuable due to its ability to offer asset-by-asset and site-by-site analytics, reporting, and benchmarking across every area of energy management and demand-side response.”
Michael Phelan, Chief Executive and co-founder at GridBeyond, commented on the Award:
“We are delighted that the experts and analysts at Frost & Sullivan recognise our intelligent energy technology to be unique within the European market, and awarded us with the 2019 Technology Innovation Award.
“Since the beginning, it has been GridBeyond’s ethos to invest in the development of new technologies and the best talents in the industry, to continually introduce innovative solutions to the ever-changing energy market. After the successful commercial launch of the world’s first hybrid battery & demand network last year, we are continuing our work on implementing the most advanced solutions in AI and machine learning to further develop our services. Our goal is to benefit our clients by enhancing their sustainability, boosting their operational integrity, as well as profitability by generating savings and enabling them access to multiple revenue streams and trading opportunities.
“2019 will bring significant developments and further expansion of our business, and we are excited to kick it off with this highly regarded and respected award. The recognition of our achievements in the European market truly validates our ambition to never stop striving for excellence in our services, and drive the change in the global energy markets through innovation.” added Phelan.