IPKeys and ElectSolve accelerate growth strategies with the synergistic merger of Secure Demand Response and Meter Data Management platforms for the Public Power and Rural Electric Cooperatives Sectors
EATONTOWN, NJ and SHREVEPORT, LA October 17, 2018 – IPKeys Power Partners (IPKeys) announced today the completion of the merger and acquisition of ElectSolve Technologies & Services, Inc. (ElectSolve), the public power sector leader in Meter Data Management (MDM) with over 5 million Advanced Meter Infrastructure (AMI) points served.
The acquisition accelerates IPKeys strategy of becoming the leading provider of highly secure Integrated Automated Demand Management (IADM) platforms for utilities and consumers. The merger enhances both organizations ability to deliver on the needs of utilities and grid operators by providing a unique technology and programmatic integration of Demand Response (DR), Meter Data and Event Management, Cyber Security and Network Engineering.
The merger will build a strategic value for utilities by expanding the role of AMI and the data it provides for billing electricity consumption. It leverages historical consumption data into predictive, economically efficient and highly secure automated electricity demand and peak load management capabilities for utilities.
As coal plants shut down and nuclear installations are being reduced, utilities are facing significant challenges to meet a changing fuel supply mix. IPKeys’ EISS® system and IADM combined with ElectSolve’s MDM platform provides utilities with the ability to trust reliable and secure demand resources for load management. This potentially saves billions of dollars in replacement capacity plant investments; particularly those required to support reserves for peak demands.
IPKeys automated demand response and ElectSolve’s utility Meter and Operational Data Management (MDM/ODM) platforms provides real time dispatch, measurement and verification of consumer side resource performance. The merged platform also includes the automated reconciliation and customer payment for participation providing utilities a tool to utilize demand side resources just as they do supply side generation. Utilities will be empowered with significant leverage to reduce peak demand charges for both their ratepayers and mitigate risk for utilities.
The benefits available to utilities and energy suppliers include but is not limited to:
- Capital cost avoidance associated with providing power reserves for peak load situations
- Avoidance of contract penalties associated with exceeding energy supply contracts
- A demand control platform to absorb the growth of solar and wind power intermittency
- A platform to enhance grid reliability and resiliency
- Enhancing a green and carbon emissions reduction opportunity with economic rewards
- Partnering with the residents and businesses of the community to work together to realize a cleaner, secure and more efficient electricity delivery and consumption program
“We are excited about coming together with the ElectSolve team and the value utilities will be able to realize with a cost-efficient delivery of cyber secure meter, electricity demand and network management” said Robert Nawy, CEO IPKeys. “The opportunity to provide our open standards-based servers, client premises hardware and large market wholesale Demand Response programmatic experience to the Public Power Sector will empower municipal and cooperative utilities to adopt best practices in technologies and program consulting for years to come”. Nawy added.
“With utilities facing an increasing level of risk associated with the cyber threat, the decision to combine our companies was the right choice for our current and future clients and partners.” said Mark Ponder, CEO ElectSolve. “Our combined companies will deliver the most secure utility data management, analytics and demand response platform available to the public power utility market today. Delivering software and hardware solutions that meet or exceed military grade security standards is not only practical for the utility industry but essential to this market to insure the reliable and secure delivery of services to customers.”
The merger of IPKeys Power Partners and ElectSolve provides for continuity for all employees of both organizations. The software development teams of both entities will have the opportunity to leap in advances by combining meter data and operational management with the ability to control electricity load consumption on an automated basis with customer premises hardware developed and manufactured by IPKeys, these include the OPEN ADR certified EISS® servers, EISS®Box and EISS®Cube.
Mark Ponder, founder and CEO of ElectSolve with over 30 years of experience will become the Chief Information Officer (CIO) for IPKeys Power Partners and the critical human resources of the ElectSolve team will also join on providing for a smooth transition.
IPKeys founded in 2005 is a strategic partner in the Energy, DOD, Federal, and Commercial sectors, delivering expertise in the development, integration, and deployment of cyber secure Internet Protocol (“IP”) technology and communications systems.
IPKeys provides Demand Response and curtailment services provider services through its subsidiary IPKeys Power Partners and is co-headquartered in Eatontown, NJ and Stafford VA, and has offices in San Diego, CA and Annapolis Junction, MD.
ElectSolve was founded in 1999 and is based in Shreveport, LA and Austin, TX. ElectSolve’s flagship product, is a proven, vendor-neutral, next generation data management and integration platform for managing and integrating utility data. ElectSolve interoperates with a full suite of utility operational platforms including AMI, CIS, SCADA, OMS, GIS providing a full 360-degree view of all operational data with centralized management, analysis and reporting.
About the Public Power Sector
Over 1300 Public Power utilities in the US serve approximately 50 million customers in 49 states and 5 US territories. Generating over $60 billion in annual revenues, Public Power serves 1 in 7 customers in the US today and is vital to the continuing growth of the communities they serve. Public Power is locally controlled, highly reliable and provides low competitive rates to their communities.
For additional information please contact PR@ipkeys.com or call William Zucosky at 732-982-3108.