Peak Power offers software and services that control and optimize battery storage, grid-interactive buildings, and electric vehicles to unlock hidden capacity and balance multiple objectives including net-zero goals, financial returns, and grid reliability. Its flagship platform, Peak Synergy, optimizes across revenue streams to enable investor returns and further battery storage deployment. The company currently operates in Ontario, New York, New England, Virginia, and California, with Peak Synergy deployed across more than 13 million sq. ft. of real estate. Peak Power has roughly 150 MWh of battery and electric vehicle capacity under contract or committed across North America. Led by CEO Derek Lim Soo, the company plans to use new funding to ramp U.S. expansion, hire for critical roles, and continue developing its software capabilities. The business model centers on software-enabled optimization to monetize distributed energy assets for owners and investors. Peak Power develops software to aggregate and optimize distributed energy assets in the built environment, aiming to accelerate decarbonization of commercial and industrial buildings. Its flagship product, Peak Synergy, optimizes battery energy storage systems, grid-interactive buildings, and electric vehicle assets. The company has evolved its Distributed Energy Resource Aggregation (DERA) platform to unlock grid flexibility and enable customers to cut operating expenses, reduce emissions, and sell energy back to the grid. Peak Synergy is deployed in over 10 million square feet of real estate, with approximately 90 MWh of battery and electric vehicle capacity under contract or committed. SDTC awarded Peak Power C$5 million to expand the DERA platform across North America and support rapid scale-up. With this funding, Peak Power plans to expand its portfolio of projects across Ontario, California, and Massachusetts. Founded in 2015 and operating in Ontario, New York, New England, and California, the company positions its software as a tool to drive wider adoption of renewables and decentralized electricity resources. Peak Power’s flagship product, Peak Synergy, is software that optimizes three energy assets—battery energy storage systems, grid-interactive buildings, and electric vehicles—to minimize costs, reduce emissions, and sell energy back to the grid. The company’s Synergy technology is being used to underpin its Peak Drive EV charging project and will manage V1G chargers to draw power when grid capacity is available, avoid peak demand, and adjust charge rates. Peak Power plans to deploy 117 V1G chargers across several mixed-use developments in Ontario as part of this project, working with SWTCH Energy (co-developing the charger software) and Signature Electric (installing hardware and infrastructure). The project is supported by a $765,000 investment from Natural Resources Canada’s Zero Emission Vehicle Infrastructure Program (ZEVIP) toward a total project cost valued at over $1.6 million. Operational metrics disclosed include Peak Synergy being deployed in over 10 million sq. ft. of real estate, with about 90 MWh of battery and electric vehicle capacity under contract or committed, and an annual greenhouse gas reduction of 72,000 tCO2e. The company was founded in 2015 and operates in Ontario, New York, New England, and California. Peak Power develops the Synergy™ AI-powered platform that optimizes the operation of buildings and distributed energy resources (DERs) such as batteries and electric-vehicle chargers. The platform is deployed in over 15 million square feet of commercial and industrial real estate across Ontario, New York, and California. Peak’s software is designed to unlock revenue for customers, reduce operating costs, and decrease environmental footprint by enabling batteries and other assets to act as grid resources. The company says the current financing will fund rapid global expansion of the Synergy platform. Peak positions itself at the nexus of smart buildings, clean energy, and electric mobility. Founded in 2015 and based in Toronto, the company’s leadership includes CEO and co-founder Derek Lim Soo. Peak Power develops the Synergy™ AI software to optimize buildings, energy storage and electric vehicles as synthetic, stationary and mobile batteries for real-time grid response. Its platform can deploy assets independently or collectively as a virtual power plant to unlock revenue streams and reduce customer emissions. Peak serves commercial & industrial customers, energy developers and utilities and highlights deployments for large REITs and C&I facilities. The company reports assets under control in Ontario, New York and California and says it achieved industry firsts such as discharging a fleet of EVs via vehicle-to-grid within a multi-asset VPP. Peak has been featured in Forbes and BNN for its innovation. With new capital from Sensata Ventures and Export Development Canada, Peak plans to expand its Synergy platform and scale internationally, with particular focus on manufacturing, commercial & industrial and buildings.

Total raised

$39M

Funding rounds

5

Latest round

Equity

Latest activity

May 2023