Hatch invests in energy optimization platform
February 8, 2021
By CCE
Peak Power's Synergy software is based on The platform uses artificial intelligence (AI).
Photo courtesy Peak Power.
Through its Canadian Shield Capital private equity investment arm, consulting engineering firm Hatch is investing in the expansion of Toronto-headquartered Peak Power’s Synergy software.
The platform uses artificial intelligence (AI) to optimize the operation of buildings and distributed energy resources (DERs), such as batteries and electric vehicle chargers.
“Our capabilities are keeping us very busy on both the supply and demand sides of the energy market,” says Robert Francki, Hatch’s global managing director for energy. “We believe Peak Power has the team and technology to help commercial buildings reduce their power consumption and emissions, which is an important market.”
The platform (pictured) has already been deployed in more than 15 million square feet of commercial and industrial real estate in Ontario, California and New York. Other investors include the Business Development Bank of Canada (BDC) and Export Development Canada (EDC).
“We see more and more organizations identifying, prioritizing and addressing energy and greenhouse gas (GHG) reduction opportunities,” says Andrew W. Dunn, managing partner for Canadian Shield Capital. “Peak Power is a leading player in this space in North America.”
Hatch’s investment follows recently announced support for other technologies that could transform the energy industry, including magnetized target fusion (MTF) and small modular reactors (SMRs).
