PEAK Wind acquires a minority stake in battery and virtual power plant company, Hybrid Greentech

PEAK Wind continues to develop its business in preparation for an energy future with stronger integration between generation and P2X assets by acquiring a minority stake in Hybrid Greentech – specialized in energy storage management and virtual power plant technology.

Image: PEAK WindImage: PEAK Wind

As the energy sector develops, PEAK Wind continues to evolve its business to prepare for a new energy future which is dominated by renewables and a far more flexible power system.

Therefore, PEAK Wind has made a strategic equity investment in the battery start-up company Hybrid Greentech, with whom a partnership was formed in the beginning of 2021. PEAK Wind acquires a minority equity stake with an option to increase to 27.5%, subject to the fulfillment of certain objectives.

“With this investment, we will be able to provide energy management services and solutions, which – in the near future – will be pivotal as the entire power system needs to cater for more renewable electricity and consequently more intermittency,” says Lars Nagstrup Conradsen, co-founder of PEAK Wind. “Moreover, this enables PEAK Wind to further expand our advisory offering in the storage and P2X domains”, Lars continues.

“PEAK Wind is a perfect fit as an investor in Hybrid Greentech. They have a unique understanding of the renewable energy sector and a strong presence in the asset management business which has potential for strong synergies with Hybrid Greentech’s fully AI-driven Virtual Power Plant.” says Rasmus Rode Mosbæk, Founder and CEO of Hybrid Greentech.

Hybrid Greentech was founded in 2018 by Rasmus Rode Mosbæk who has assembled a group of researchers from DTU specializing in energy storage management and virtual power plants. Since its inception, Hybrid Greentech has developed a proprietary software system, HERA, which enables the company to intelligently size and manage battery solutions in order to leverage the full revenue potential and optimize the lifetime cost of energy storage.

Hybrid Greentech offers the following services and solutions today:

  • Advisory services and technical evaluation of solutions for battery energy storage, including degradation analysis for sizing of battery energy storage solutions.
  • Virtual Power Plant software for aggregating energy storage and P2X systems in the energy and power markets.
  • Customer segments include shipping, aviation, large scale charge point infrastructure, large energy users and generators.

Both companies share the strong belief in the prospects of combining generation and storage/P2X management skills as the post subsidy-renewable era will require adoption of smart technologies as generation and off-take need to be further synchronized.

The transaction is expected to be completed during January 2022.

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PEAK Wind, battery, virtual power plant, stake, Hybrid Greentech, P2X, developer, future, integration, minority equity, wind farm

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