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Demand Power is thrilled to announce our partnership with Food and Beverage Ontario as their only energy company that can provide power reliability and security.
Food and Beverage Ontario represents 70% of food and beverage processors across Ontario.
A professional leadership organization with 17 years of industry experience, FBO was originally founded in 2003 as the Alliance of Ontario Food Processors.
Contributing over $42 million every year, FBO is one of the leading employers across the province.
Ultimately, Food and Beverage Ontario’s objective is to promote and support a competitive Ontario industry, both locally and as part of the larger global marketplace.
Demand Power Group Inc. (DPGI) was founded in 2018 to provide solutions for large manufacturing plants and other industrial operations that want to improve energy quality and reduce energy costs.
Demand Power’s energy storage solution is a novel combination of existing technologies that allow customers to benefit from valuable services built with dependable equipment.
In today’s fast-paced modern world, Demand Power understands what is most important to the modern-day manufacturer. The need to control costs, maximize productivity and eliminate errors.
Demand Power Group Inc. (DPGI) is pleased to announce the completion of a US$71.0 million raise of equity and commitment of development and project finance from investors including Star America.
We are an innovative energy services company, offering electricity solutions to Ontario’s industrial and commercial customers. Our core energy storage solution is a behind-the-meter system incorporating industrial-grade batteries and an uninterruptible power supply (“UPS”), improving power reliability while reducing energy costs.
The systems, which will be financed by investors including Star America, will be located on customer sites. Demand Power expects the first projects to be completed by the end of 2020.
Star America is an independent U.S.-headquartered developer and manager of greenfield infrastructure assets in North America. Star America manages capital from U.S. labour pensions, insurance companies, asset managers, regional construction companies, and high-net-worth individuals, among others. Star America’s track record includes investments in 14 infrastructure assets, which have a total project cost valued at greater than US$5 billion. For more information on Star America please visit: www.starinfrapartners.com.
“As a growth provider of innovative behind-the-meter energy solutions, we are pleased to be backed by a world-class infrastructure investor that believes in our vision” said Raj Chudgar, Demand Power’s CEO.
“We are excited to invest in a platform focused on bringing energy efficiency solutions to Ontario.” Said Christophe Petit, President of Star America. “We’ve been impressed by Demand Power’s management and their commitment to delivering innovative energy solutions to public and private customers that we expect will lower energy costs, improve grid resiliency, and reduce energy consumption from the highest emission sources during peak use periods.”
DPGI was founded in 2018 to provide solutions for large manufacturing plants and other industrial operations that wanted to improve energy quality and reduce energy costs. Demand Power’s energy storage solution is a novel combination of existing technologies which allow the company to benefit from additional services and value streams.
This press release was originally distributed on Canada Newswire on March 12, 2020.