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Olivine recognized by FierceEnergy and Smart Grid News for innovation
November 4th, 2015 by Stacey Hobart
Olivine Inc. announced today that is has been selected as a finalist in this year’s Fierce Innovation Awards: Energy Edition, a utility-reviewed awards program from the publishers of FierceEnergy and Smart Grid News. Olivine was recognized as a finalist in the End Use: Demand Response/Demand-Side
Management category and selected for its innovative, industry leading product, the Olivine DER System.
The Olivine DER system serves as the critical link for distributed energy resources (DERs) to participate in open energy markets. The technology platform offers a comprehensive distributed energy resource management system used by utilities, demand response and other service providers, and resource owners. The Olivine DER System acts as an interface between DER owners and markets/distribution programs, as well as complete systems for managing complex demand response programs. The highly configurable system enables wholesale market and retail participation as well as operational simulation running the gamut from long-term capacity procurements to real-time frequency regulation integration.
Finalists’ applications were reviewed by an exclusive panel of executives from major North American utilities including CenterPoint Energy, Duke Energy, Ameren Corporation, San Diego Gas & Electric, Iberdrola USA, Commonwealth Edison, and PECO. Full profiles of the judges can be found at https://www.fierceinnovationawards.com/energy/2015#our_judges.
All applications were evaluated based on the following criteria: technology innovation, financial impact, market validation, compatibility with existing networks, end-user customer experience, and overall level of innovation.
“We are thrilled to be recognized by the Fierce Innovation Awards and to be named among such an accomplished group of finalists,” said Olivine CEO Beth Reid. “Olivine is dedicated to unlocking the full value of distributed energy resources through cost-effective integration and have invested in The Olivine DER System to enable participation of DERs in open energy markets.”
Olivine was the first third-party to integrate with the California Independent System Operator (ISO) market for demand-side resources and is currently the only third-party SC/DRP that has bid Proxy Demand Response (PDR). The company has been actively involved in stakeholder groups to define PDR and related processes, the new DRAM Pilot other important rules and initiatives. Leading the way to resolve important and complex issues, Olivine has supported critical initiatives such as utility pilots and independent studies.
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