Battery company Electriq Power has entered into a definitive agreement with Lilypad Energy, a supplier of data analytics solutions for the electricity industry focusing on battery power storage software. Lilypad Energy will improve the performance capabilities of Electriq Power’s fleet of residential and small business battery systems which may be paired with or without solar. Under the agreement, Electriq Power will own the entirety of Lilypad Energy’s software and branding rights.
Lilypad Energy’s software allows system optimization preparation before battery systems are installed at residential and commercial sites. The software provides evaluation capabilities to assess revenue generation opportunities out of interventional curtailment for demand response, ancillary services, and other sorts of program balancing grid-services, the building blocks for Virtual Power Plants (VPPs). These evaluations also provide smaller setup companies an affordable platform to optimize their planning and suggestions.
“It is exciting to combine Electriq Power, one of the few companies in a position to leverage distributed energy resources as true grid resources, we will concentrate on accelerating deployments of battery powered systems to deliver the maximum value to the broader energy system.”
Henry Meyer, Co-Founder, Lilypad
The accession of Lilypad Energy comes amid increased demand for residential energy storage systems in response to California’s Public Safety Power Shutoffs (PSPS), a program where electricity is preemptively shut down by means of a utility as a result of severe weather conditions.
“Lilypad Energy will enable accelerated deployments of battery systems along with a foundation from which to supply real-time grid solutions to encourage utility grid and infrastructure operators across the country. We continue to build out our vision of raising value-added services for Virtual Power Plants. We’re thrilled to have Henry come and lead our Services Group.”
Frank Magnotti, CEO of Electriq Power.
This really is the latest advancement in Electriq Power’s expanding operations, after an announcement in early September that the company had entered into a definitive agreement with Emergent Microgrid, a provider of turnkey microgrids.
