Participation provides access to catalytic capital and/or technical assistance towards a capacity building project in New York State
New York, May 16, 2024—Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, today announced that it was selected as participant in The Clean Fight’s Energy Storage Capital Challenge, which provides access to catalytical capital and/or technical assistance towards projects that support the reliability of New York’s electric grid. Convergent is one of six total participants.
Convergent’s Brooklyn-based battery energy storage systems will promote a more reliable, sustainable, and cost-effective electric grid. This is critically important in New York, especially in Brooklyn, where demand for electricity can outstrip supply.
The Clean Fight operates the Energy Storage Capital Challenge for the purpose of attracting, vetting, and selecting the most promising innovative energy storage projects in New York by offering their developers and sponsors a set of world-class services and partnerships tailored to their needs. The Program is made possible through the financial support of the New York State Energy Research and Development Authority (NYSERDA) as well as that of the U.S. Department of Commerce’s Economic Development Administration (EDA).
“Energy storage is the linchpin of the clean energy transition and a more reliable electric grid” said Convergent Energy and Power’s CEO and Co-Founder, Johannes Rittershausen. “Convergent is developing an innovative battery storage solution at one of the most constrained points of the electric grid right here in our hometown, which will benefit both the grid and the community.”
Founded in 2011, Convergent is one of the original players in the energy storage sector and is committed to developing an energy landscape that is less expensive, more reliable, and increasingly sustainable.
Energy storage can “firm up” renewable resources, maximize their value to the grid, reduce the cost of electricity (storing energy when it is cheapest, dispatching it when it is most expensive), and enhance the reliability of our aging electric grid increasingly strained by climate change.
Convergent has been a trailblazer in identifying new applications and industry firsts for both energy storage and solar-plus-storage, including the first non-wires alternative for utility infrastructure in the United States and the largest (at the time) behind-the-meter battery energy storage system in North America.
About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $1bn invested in or committed to assets in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn.
Convergent Press Contact
Kate Siskel
SVP, Marketing and Communications
Convergent Energy and Power
ksiskel [at] convergentep.com
917-508-0274
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