Packetized Energy is a spin-off from the University of Vermont’s ARPA-E NODES project (2016-2021) and is actively commercializing its innovative and patented approach to coordinating distributed energy resources (DERs such as water heaters, EV charging stations and behind-the-meter batteries). The technology, Packetized Energy Management (PEM), was invented by co-founders Paul Hines, Mads Almassalkhi and Jeff Frolik. Together, Paul (CEO), Mads and Jeff (Sr. Tech. Advisors) bring over 50 years of experience leading academic, industry and government technology teams focused on power systems, optimization, control systems, communications systems, software and startup growth. Complementing this technology leadership experience, our team of about a dozen includes both business and technology implementation experience. For example, Kim Goodrich (Director of Business Development) previously founded an energy industry company (CodeCycle) and has extensive experience with startup growth. Packetized Energy’s advisory board includes deep financial and business expertise. For example: Nina Pfifer has renewable energy project development globally; Rober Zulkoski, was the founding investor in GreenLots and helped to lead that company to acquisition by Shell, and Skip Wyer led a $500M investment portfolio at Cargill. Our team also includes experienced software and hardware engineers, data scientists, business specialists and project managers, the Company is currently working on seven commercial projects and five federal awards, including a highly competitive NODES Plus Up, and has booked over $1M of revenue for the coming 12 months.
Under SCALEUP, Packetized Energy will enable grid-edge flexibility from distributed energy resources (DERs) to be more cost effective than, with performance that is on par with, conventional grid assets, like single cycle gas turbines or utility-scale battery systems. The project will do so using the patented, device-driven PEM technology and the Company’s Nimble software platform. Meeting these performance and cost-effectiveness goals requires a large-scale demonstration that deploys more than 5000 behind-the-meter, flexible loads and our scalable technology to drive down deployment costs per unit of flexible demand capacity from $1.00/W today to less than $0.50/W at the end of the proposed project and less than $0.30/W in the next 5 years. Achieving these goals begets real-time, dispatchable flexible demand at an unprecedented scale of 6 MW and improves the value proposition by more than 3X over many small-scale utility demonstration projects. Importantly, successful completion of SCALEUP will bring DER coordination costs below those of forecasted for grid-scale battery storage systems, which de-risks the technology for large utilities and will lead to rapid and large-scale adoption across the U.S. and globally.
Packetized Energy is actively seeking both Commercialization and Financial Partners to provide LOIs, to complement an existing team of potential partners including TheConduit Capital, Green Charge Ventures, LG, Resideo, Webasto, Exelon, two California CCAs and others. We are particularly interested to talk with corporate equity investors and project capital investors who are willing to support the innovative business models that will be an integral element of this project. We are also interested to partner with energy equipment manufacturers who would like to include their smart energy devices in this project.
Dr. Paul Hines
Co-Founder & CEO