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Centrica (UK) acquires energy pioneer REstore (Flanders)

For the total sum of EUR 70 million, British energy company Centrica has acquired REstore, a major pioneer in energy demand management based in Antwerp (Flanders). A flagship of Flanders’ innovative energy industry, REstore helps avoid energy shortages by providing cutting-edge demand-response aggregation software.

A growing business

Managing energy demand is becoming increasingly important as society embarks on a shift from fossil fuel to alternative energy sources. After all, the more solar panels or wind turbines there are being deployed, the more unpredictable energy production becomes – a challenge aptly tackled by REstore’s software. The Flanders-based company’s software solution and related international patents are currently used by more than 150 of Europe’s largest energy consumers, including major chemical, steel and food manufacturers.

International market

REstore will become part of Centrica’s international Distributed Energy & Power unit, which provides energy insights, asset optimization and energy solutions to large energy users around the globe. Through this acquisition, demand response aggregation will become a core part of the British energy company’s offering: a significant growth opportunity for Centrica, as global electricity markets are changing rapidly.

More info

REstore
Reported by
VRT
13 November 2017

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