Dynamic Energy Networks announced strategic alliances with established energy and industrial sector powerhouses Schneider Electric and The Carlyle Group.
DEN also announced that it has rounded out its leadership ranks by acquiring an executive team from Hitachi and RET Capital with decades of experience in development, technology and innovative financial structures.
“We established a platform to own and operate microgrids and distributed energy resources (DER) to serve organizations and institutions – from campuses to hospitals and the military – that demand predictable pricing and efficient, reliable energy,” said DEN CEO Karen Morgan. “Working together with Schneider Electric and The Carlyle Group, we aim to transform the market to deliver holistic Energy-as-a-Service with innovative financial and technology solutions.”
Energy-as-a-Service – such as discrete energy infrastructure systems that can operate either in connection with or independent of the utility grid for a customer – could grow to a $221 billion global business by 2020, a Navigant Research report estimated.
With the rise of the Energy-as-a-Service market, DEN is well-positioned to become a trusted and reliable provider of energy to commercial and industrial operations, municipalities, healthcare facilities, institutions, campuses and the military.
DEN’s business model represents the next phase in the grid’s evolution: highly connected, smart microgrid and DER infrastructure with bespoke and flexible financial and alternative ownership structures. Customers benefit from long-term power contracts that provide cost-effective, resilient and secure supply of clean energy; investors gain access to a diversified set of dynamic energy infrastructure across different market sectors and geographies.
Also, DEN has rounded out its leadership ranks by acquiring a top-notch executive team from Hitachi and RET Capital with decades of experience in development, technology, and innovative financial structures. The new team members include:
· Steve Pullins, vice president of development, has 40 years of utility industry experience in operations, maintenance, engineering, microgrids and renewables, including serving as vice president for energy solutions at Hitachi America and leading the U.S. Modern Grid Strategy for the Department of Energy’s National Energy Technology Laboratory.
· John Westerman, vice president of technical solutions, brings 30 years of experience in emerging energy technologies to the table, most recently as a vice president for Hitachi America working on microgrids and other advanced technologies.
· Scott Rosebrook, vice president of corporate development & finance, has more than 25 years of corporate finance experience at renewable energy companies and leading financial institutions. Most recently, he was vice president, renewable energy specialist at KeyBank and, prior to that, vice president of corporate finance & treasurer for RET Capital.