Veritone, Inc., creator of iDERMS, an intelligent distributed energy resource management platform, announced it has been named a key player in the 2022 Guidehouse Insights Leaderboard Report for Virtual Power Plant (VPP) Platform Vendors. As energy markets continue to evolve toward a greater reliance on distributed energy resources (DER) that generate, consume, or store electricity creating a two-way power flow dynamic, Veritone’s AI-driven intelligent distributed energy resources management system (iDERMS) is hailed as a leader in helping organizations maximize the flexibility and reliability of assets to best support the development of a resilient power grid.
Guidehouse Insights, the dedicated market intelligence arm of Guidehouse, is a premier market intelligence and advisory firm covering the global energy transformation with a focus on emerging resilient infrastructure systems. Its Leaderboard report examines the strategy and execution of 16 VPP platform vendors whose platforms can create mixed-asset VPPs. These providers are rated on the following criteria: vision; go-to-market strategy; partners/acquisitions/investors; DERMS integration strategy; technology scope; geographic reach; sales, marketing, and distribution; platform performance; value chain capture; project portfolio; business model; and staying power. Using Guidehouse Insights’ proprietary Leaderboard methodology, vendors are interviewed, profiled, rated, and ranked with the goal of providing an objective assessment of their relative strengths and weaknesses in the global VPP platform market.
“VPPs can transform passive consumers into active prosumers through integration and optimization of new technologies, such as demand response (DR), solar PV systems, energy storage, and EVs. Prosumers become active participants in delivering the energy services they need but when called on, can also serve the needs of the larger grid.” - Guidehouse Insights
Veritone’s iDERMS solution harnesses the power of AI to revolutionize today’s energy ecosystems through proprietary, intelligent, day-ahead and real-time energy forecasting, design, optimization, and control, all of which unlock the full potential of energy resources, while enhancing overall reliability. With Forecaster, Designer, Optimizer and Controller modules, the solution allows for tackling industry challenges at a pace best suited to meet each customer’s specific objectives, timelines, or financial goals, while simultaneously addressing reliability and the commercial aspects of distributed energy resources (DERs).
“We are extremely proud and honored to be included in the Guidehouse Insights Leaderboard Report for Virtual Power Plant Platform Vendors, which only includes companies that provide platforms capable of creating mixed-asset VPPs,” said Sean McEvoy, senior vice president and general manager of Energy at Veritone. “At Veritone, our priority is to advance the mission of our customers and help them reach their business goals. Veritone’s AI-driven iDERMS solution is best-in-class, selected by a growing number of organizations to modernize the power grid in the safest, most environmentally responsible and cost-effective manner while helping maintain system reliability.”