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Peak Power receives $5M from SDTC to deploy DERA platform

TORONTO — On Sep. 27, Peak Power, a Canadian clean tech company developing energy optimization software to decarbonize the commercial and industrial building sectors, announced that Sustainable Development Technology Canada (SDTC) has awarded the company $5 million CAD for the expansion of its Distributed Energy Resource Aggregation (DERA) platform across North America.

Peak Power’s purpose is to make dirty power plants obsolete by providing tools needed for a decentralized electricity system that drives widespread adoption of renewables. The DERA platform is an evolution of a software that aggregates battery storage, grid-interactive buildings, and electric vehicles for partners to pursue net zero goals, cut operating expenses, and unlock new revenue opportunities.

Peak Power’s DERA project will try and unlock the untapped flexibility of the grid which is critical for the transition to 100% carbon-free energy. Distributed energy assets like battery storage systems, solar, electric vehicles, and grid-interactive buildings, when aggregated, are a cost-effective means of reducing emissions and improving the reliability of the electricity system. With this funding, Peak Power says they will expand their portfolio of projects across Ontario, California, and Massachusetts. This funding will support the company’s rapid scale-up of their solutions across Canada and the U.S.

“The support of SDTC will let us be even more ambitious when scaling our technology for our next stage of growth. SDTC is fundamental to what makes the Canadian cleantech ecosystem globally unparalleled. It has been such an important part of Peak Power’s past, present, and now future,” says Derek Lim Soo, CEO of Peak Power. “This grant will help us realize our mission to make centralized power plants obsolete, make the energy sector cleaner, and increase our energy independence. We are beyond excited for today’s funding announcement and the deepening of our partnership with SDTC, which will help drive the clean energy future all generations deserve.”