AI-enabled power marketer Gridmatic launches retailer to meet advanced energy needs of commercial customers
Gridmatic, the industry-leading AI-enabled power marketer, announced today the launch of Gridmatic Retail to optimize clean energy purchasing and provide predictability and automation for commercial and industrial customers. Gridmatic has hired industry veterans Michael Osowski and Amy Van Gelder to head up the new business unit.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230123005809/en/
Gridmatic, the industry-leading AI-enabled power marketer, announced today the launch of Gridmatic Retail to optimize clean energy purchasing and provide predictability and automation for commercial and industrial customers. (Photo: Business Wire)
Power marketers play a critical role in the energy industry to fulfill the needs of energy suppliers and consumers. Traditional power marketers, however, are increasingly challenged in serving customers' goals of transitioning to carbon-free energy, due to the increasing complexity and volatility of the rising penetration of renewable energy, and lack of innovation.
Leveraging its market-proven AI, Gridmatic Retail enables businesses to meet carbon reduction targets with clean energy contracts that drive down costs and provide predictability and stability. The company offers next-generation retail energy products including Time-Matched Renewables, which matches clean energy to consumer consumption on a 24/7 hourly basis, and custom products for customers with variable and complex needs.
"There is strong and growing demand for time-matched renewables but a lack of viable solutions due to the complexity of the challenge," said Matt Wytock, CEO and Founder of Gridmatic. "Gridmatic is applying Silicon Valley AI to solve this problem and has four years of market success with its algorithms for industry-leading electricity market predictions."
"I'm thrilled to join Gridmatic and excited to combine my decades of experience building energy retail businesses with clean energy solutions that go beyond the traditional approach of procuring Renewable Energy Credits," said Mike Osowski, President of Gridmatic Retail.
As part of the launch, Gridmatic announced a customer agreement with EdgeConneX, the pioneer in global Hyperlocal to Hyperscale Data Center Solutions. Gridmatic will provide time-matched carbon-free energy for a data center in Texas, within the Electric Reliability Council of Texas' (ERCOT) territory.
"We're excited to have found a partner aligned to our goals and forward thinking," said Anand Ramesh, Senior Vice President of Advanced Technology for EdgeConneX. "Gridmatic will assemble a portfolio of contracted CFE generation and storage assets to provide carbon-free energy that is time-matched on an hourly basis."