U.S. group Demansys Energy has purchased a controlling interest in Singapore-based CPvT Energy Asia in what is the first international venture for the demand-side energy innovator headquartered in New Milford, Connecticut.
CPvT, a fully-owned subsidiary of Singapore’s vTrium Energy prior to the Demansys acquisition, has pioneered demand response in Asia by offering customers a turnkey method of entering into lucrative demand response programs with the local utility.
"Demansys has been at the forefront of smart grid technology and is committed to ensuring our customers receive economic benefits while enhancing the smart grid and the environment," said Demansys CEO Jeff Lines. "We think there is a great opportunity to develop new demand response solutions in Asia, and CPvT is a proven leader in this area."
Lines said Demansys would support the leadership team in Singapore and ultimately expand demand-side management services in Asia.
Demansys harnesses the inherent ability of a company’s power-intensive equipment to participate in the frequency regulation and reserves markets using smart grid technology. Managing energy assets in near real time, the Demansys Grid Daemon Platform adjusts the energy usage of commonly-used equipment and storage resources without negatively affecting process or product to respond to the requirements of the grid operator.
CPvT’s product offering has been beta tested over the last three-years through a study, partially sponsored by the Singapore Energy Market Authority. The beta testing revealed opportunities to enhance energy price stability in Singapore.
The company is changing its name to CPvT Demansys Energy Pte Ltd and will be led by CEO Vijay Sirse, who is also chairman and CEO of vTrium Energy and CPvTs founder.
"CPvT is proud to be the first company in Singapore to have successfully demonstrated the use of demand-side resources in the power market. It was important for us to align with a world-class leader in demand-side energy solutions, which is why we chose Demansys," said Sirse. "I look forward to collaborating with the Demansys team as we work to develop new demand-response solutions and help companies realize the benefits of participating in these programs."
CPvT said it would, over the next three to five years, offer demand side resources of up to 200-300 MW covering all three market segments in the National Electricity Market of Singapore. To realize this objective, CPvT will invest some US$5 million and augment the technical and operational headcount to 16 employees at the companys headquarters in Singapore. There will be further investments when CPvT starts developing markets in other Asian countries, the company added.
Goh Chee Kiong, executive director Cleantech, Building & Infrastructure Solutions at the Singapore Economic Development Board, said: "Demand response represents a new growth opportunity through actively managing the consumption of energy consumers, and is aligned with Singapore’s focus to develop sustainable energy management and smart grids capabilities.
"Leveraging Singapore’s strengths in systems integration and whole-of-government coordination, we believe that Singapore can be a platform for companies like CPvT Demansys Energy to develop, test and commercialise innovative urban solutions for global markets," he added.