London, 01 April 2020 – Origami, a leading technology developer for energy companies, has announced the latest grid-scale battery storage project to use its smart technology is now operational. The 10MW battery, Lower Road, located in Brentwood, Essex, will be managed using Origami’s platform to help balance the national grid and provide additional capacity at times of need.
The 10MW capacity battery project is owned by Gore Street Energy Storage Fund plc, (ticker: GSF), London’s first listed energy storage fund investing in income-producing assets in the UK and internationally. The energy storage facility, which uses batteries supplied by NEC, the Japanese engineering giant is now grid-connected, operational and generating regular income for Gore Street Energy Storage Fund. SSE Business Energy is the licenced supplier and power offtaker for the battery.
Alex O’Cinneide, chief executive of Gore Street Capital, the energy storage fund’s investment adviser, commented: “We are delighted that Lower Road, our 10MW project in Brentwood, is now operational and directly contributing to our company’s revenue.
“We are pleased to support Gore Street Energy Storage Fund in bringing one of Britain’s largest battery projects live using the Origami technology platform,” said Peter Bance, chief executive, Origami. “New battery projects provide much needed flexibility, which is critical if we are to make a success of renewables. Our technology enables asset owners to generate value from a number of different energy markets. This is one example of how Origami’s intelligent technology enables our customers to generate optimal financial returns across a range of dynamically changing opportunities. We look forward to working with Gore Street Energy Storage Fund on future energy storage projects and accessing new value opportunities using its batteries.”
Origami has developed a powerful and versatile technology platform for energy market participants to offer more compelling product and service offerings to their generation and consumption customers and to generate enhanced returns from trading activities. Origami’s technology provides energy companies with real-time visibility, the tools to make better decisions and to efficiently execute those decisions to maximise value generation.
About Origami
Origami is working to enable a green energy world, enabled by smart technology. Its platform is helping leading energy companies and market participants to respond quickly to changes in the energy market, increase their profitability, access new revenue opportunities and improve trading positions. In supporting these companies through the energy transition, Origami’s platform enables optimal use of energy assets, which is vital in making a success of renewable energy.
Origami’s highly secure, scalable and versatile software platform provides remote, real-time monitoring, decision support and the ability to execute decisions either financially or physically. Origami is architected for global deployment.
For more information about Origami visit: www.origamienergy.com
About Gore Street Capital
Gore Street Capital is the investment manager of Gore Street Energy Storage Fund (GSF).
GSF is London’s first listed energy storage fund and seeks to provide shareholders with a significant opportunity to invest in a diversified portfolio of utility scale energy storage projects. In addition to growth through exploiting its considerable pipeline, the Company aims to deliver consistent and robust dividend yield as income distributions to its shareholders.
For more information about Gore Street Energy Fund visit: http://gsenergystoragefund.com
