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.
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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.
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.