Powervault in major deal with EDF
Our portfolio company Powervault has announced a major collaboration deal with EDF Energy.
Under the agreement, EDF will initially promote Powervault to its 110,000 solar PV customers, offering a significant discount in return for the right to control the devices via the Powervault cloud platform, in order to provide Firm Frequency Response and other grid services. The Collaboration Agreement has been accompanied by an initial order from EDF Energy for 100 systems. Our hope and expectation is that once this first batch is installed, EDF will place further significant orders. EDF has five million energy customers in the UK.
More information is available on EDF Energy's site here where they describe Powervault as "The coolest new innovation in home energy storage".
Powervault has also re-opened its funding round from the summer; if you would be interested to invest, please contact Simon Acland at firstname.lastname@example.org.