Ice Energy, a provider of distributed energy storage and smart grid solutions, and Verde Energy USA Holdings, a retail energy supplier, formed a strategic business alliance that includes a cooperation agreement between the two companies.
A spokesman for Ice Energy says the company, which manufactures thermal energy storage units, will benefit from Verde’s business relationships in the northeastern part of the country. The partnership will also allow Verde to market energy efficient building products at competitive pricing.
An affiliate of Ice Energy is also making a minority equity investment in Verde, but terms of the equity investment were not disclosed.
Ice Energy, formerly based in Windsor, Colo., recently relocated its headquarters to Glendale, Calif. The move came after Ice Energy completed installation of 1.5 MW of Ice Bear energy storage units as part of Glendale Water & Power’s US Department of Energy-supported smart grid project.
Ice Bear energy storage systems are paired with commercial air conditioning units to regulate the timing of air conditioning, reducing peak demand.
As part of its long-term capital investment plan, Glendale Water & Power is currently evaluating the installation of an additional 10 MW in Ice Bear energy storage capacity.