Energy storage company Peak Power Inc. has secured an undisclosed investment from Osmington Inc., a commercial real estate company controlled by Thomson Reuters chair David Thomson.

"Osmington brings a breadth of experience and connections in both the real estate industry and big data industry that will aid Peak Power as it works to become one of North America's premier energy storage service providers,” said Derek Lim Soo, founder and chief executive at Peak Power. 

Through its proprietary self-learning software controls platform Peak SYNERGY, Peak Power optimizes operations of individual energy storage installations and enables the aggregation of multiple installations into a virtual power plant (VPP). The company targets the most expensive hours of peak demand to create significant long-term cost savings for building owners and opportunities for cost deferral for utilities. 

"The energy industry is undergoing a historic transformation due to aging infrastructure, rising peak demand, increased resiliency concerns, and the emergence of disruptive technologies,” said Jason Levin, a VP at Osmington. “There is a growing need for flexible and resilient distributed energy resources to support the needs of the 21st century grid, and Peak Power has developed an intelligent software system to control these assets."

Peak Power offers an Energy Storage as a Service (ESaas) business model, a flexible solution that makes it easy to partner directly with building owners, service providers and developers, and helps them implement and evaluate on-site energy storage solutions.

Levin noted that Peak Power has developed a scalable and adaptable platform that can address current market needs but also adapt to changes coming to the electricity sector.

"Peak's software targets the largest and escalating portion of customers' bills, peak demand charges (i.e. Ontario's Global Adjustment Charge), while enabling an asset that can also monetize additional revenues stream to support utility operations,” he added.