As part of the National Grid's Power Responsive list of providers, Pearlstone contributes to the UK's NetZero50 target by helping to balance energy supply and demand. Early adopters Honeywell & 3M have saved more than £20,000 and 15,000kg of CO2 emissions with ZERO upfront investment using Pearlstone's solution.
- We estimate the potential to save 38,000 tonnes CO2 a year by 2025 if implemented
- Results have shown that we can monetise up to 20% of a customers peak demand at no cost to them
- Estimated £2bn pa grid balancing market by 2030 and growing
- Tech allows multi sites eg. universities to access new income
The demand for electricity from National Grid has always been volatile. On average, the demand on a winters day can be 35-40% more than on a summers day. The situation is only expected to worsen. In less than a year National Grid has paid £1bn to generators to produce less electricity when there has been a surplus but in October, for example, also warned that electricity could be in short supply due to low wind speeds and unplanned outages. National grid also pays some large consumers to reduce their use of electricity when there are demand spikes. This income, though, can only be accessed through National Grid approved aggregators like Pearlstone.
We install our digital hardware on customers sites & then connect this to our proprietary software solution in the cloud to allow for the integrated communication between the Grid & its consumers. We founded Pearlstone Energy in 2015 & since then have:
- Installed in 3 sites & multiple conversations with interested parties.
- Eliminated dependence upon a branded technology platform by creating our own proprietary software solution in 2020 with enhanced functionality
- Featured on the National Grid's Power Responsive list of providers
- Moved from an R&D focus to generating >£20k revenue (P&L -£211k) in 2020
Our vision is to democratise responsible electricity consumption & give many more the opportunity to contribute to grid flexibility.
Our team consists of a small core group led by the founder, Dr Azad Camyab who spent over 10 years with National Power/International Power, Bernard Kaufhold - Consultant,formerly with Aquila Energy Finance & Trading and an advisory board of senior industry figures with backgrounds in BP and National Grid. Together they have probably had exposure to most aspects of the electricity supply value chain including its challenges. Supporting this core team are a group of six project based consultants who concentrate on marketing/sales, ops, technology development, data analytics, and human capital/talent management. Current shareholders also actively support us including Steve Holliday, CEO of National Grid 2007-16.
The extended team includes channel partners such as Trend Control Systems, Honeywell, and Demma who showcase Pearlstone's offering to their own customers to originate sales leads. These channel partners are established businesses with substantial market share in smart building/process energy management & control markets.
Our founding ethos was the belief that the cleanest and greenest energy is the energy not used. Power system inflexibility & inefficiency drove our determination to develop a Demand Side Response platform and provide access to the widest community of consumers and impact the energy landscape of the future.