We are very proud to announce that, in late 2017, we signed a framework agreement with Centrica plc, owner of British Gas. The terms of the agreement outline Powerstar as a preferred supplier, and highlights our commitment to provide Centrica with storage systems in this exciting and evolving market. Powerstar already has more than 75% of all behind-the-meter (where a client uses energy to carry out a process) battery energy storage systems in the UK. Our market leading, bespoke, Powerstar VIRTUE ranges from 50kW up to 10MW and has recently been awarded European and USA Patents.
The co-operation between the two companies will support the wider adoption of energy storage solutions in the UK with an importance on delivering a complete behind-the-meter energy storage solution. Crucially, our bespoke solution will provide power resilience to organisations through our seamless UPS, and allow businesses to make cost savings on network charges through peak DUoS shaving and Triad avoidance as well as generate revenue from Grid services. Power resilience is a particularly important issue highlighted recently by Centrica itself in its energy resilience report which showed that energy-related failures can cost businesses up to 17% of their revenues.
The framework agreement has commenced with the order of two 500kW Powerstar VIRTUE systems for the Centrica head office in Windsor. The Windsor system will have full load seamless UPS capacities and will be integrated with the award-winning Powerstar voltage regulation technology. The systems will be fully demonstrated to Centrica’s clients to showcase behind-the-meter storage solutions.
Dr. Alex Mardapittas, Founder and Chief Executive Officer of Powerstar said, “To secure a framework agreement with an industry titan such as Centrica is a proud milestone for Powerstar during a period that has been filled with continued growth and development.
I believe this Framework is a testament to the quality of our systems which is a direct result of the investments in R&D we have made in the last decade. We look forward to embracing the future opportunities it will provide.”