September 21, 2022
Leap’s California heat wave response generates $1 million in grid services revenue opportunities for their technology partners.
SAN FRANCISCO, September 21, 2022 – Leap, a leading energy market access provider, announced today that it has surpassed 50 technology partners under contract and over 50,000 customer meters on its platform. Since launching in 2017, Leap has added over 430 MW in flexible load to its portfolio across four electricity markets in the U.S.
“Leap has experienced tremendous growth over the past few years by developing strong partnerships with technology providers who recognize that they can leverage their portfolios of cloud-connected energy devices to help stabilize the grid,” said Leap’s Chief Executive Officer Thomas Folker, “During the recent heat wave in California, Leap virtually aggregated over 77 MW in flexible load across 24 partners and over 21,000 unique devices to deliver meaningful relief to the strained grid and keep the lights on for millions of California residents.”
Leap’s partners serve millions of consumers and commercial businesses, including some of the biggest and most recognizable consumer brands. They use Leap’s platform to simplify energy market participation for grid-connected distributed energy resources (DERs) such as smart thermostats, electric vehicle (EV) chargers and battery storage systems. The platform makes it easy for the developers and operators of DERs to connect their customer meters to the grid and respond to market pricing signals during peak demand periods. This makes the grid more resilient and creates new sources of value for technology providers and their end customers.
“As an early investor, I’m thrilled to see the impact Leap and its partners have had on the grid over the past five years,” said Nick Grossman, General Partner at Union Square Ventures, “It’s really the triple bottom line in action. By partnering with Leap, technology providers can unlock new revenue streams to invest in their business, help keep the electricity flowing and provide the flexibility needed for the grid to handle more renewable energy generation.”
Leap is the leading global platform for generating new value from grid-connected resources and devices through integration with energy markets. Leap does all of the heavy lifting, seamlessly connecting technology partners to high-value revenue streams and providing a simplified, automated access point for market participation with batteries, electric vehicle charging, smart thermostats, HVAC systems, industrial facilities, and other flexible assets. By making it easy for new distributed resources to participate in energy markets, Leap lays the groundwork for virtual power plants (VPP). Leap empowers its partners to provide resilient, zero-carbon capacity to the grid while strengthening engagement with their customers through new value streams.