– Tim Angus, president & CEO of REGEN Energy (www.regenenergy.com), says:
REGEN Energy is a technology company, founded on the basis of biomimicry, with an innovative and sophisticated take on energy efficiency. REGEN’s founders were inspired by the communication patterns of honeybees, and in 2005 they began to develop what would become known as the Swarm Energy Management system: a wireless energy management solution that can be quickly installed onto any discretionary electrical load. The system employs swarm logic to allow loads in buildings, such as HVAC units, to communicate with one another and reduce the number of loads running concurrently, thereby reducing peak electrical demand by up to 30% commercial and industrial facilities.
While REGEN’s product is certainly unique, the problem it is solving is not. Buildings are a key source of peak energy demand and in general, buildings account for about 39% of total U.S. energy use. The contribution of buildings to peak energy demand is even greater, mostly due to cooling needs of buildings during the hottest parts of summer days. The electricity grid struggles to accommodate this high level of energy demand, often needing to resort to using “peaker plants” to supply additional energy. This means the use of lower-grade, dirtier fuels, without the advanced scrubbing mechanisms that newer plants use to reduce pollution. Reducing peak loads benefits both the stability of the electricity grid and the wallets of energy consumers.
This brings us to the perfect marriage of innovation and experience. Robert M. Chiste is an individual who has spent his entire career in the energy and cleantech industries. He has dedicated much of his time to addressing the above issues by focusing on the clean-technology sector, alternative energy sources, and smart grid. Mr. Chiste is a pioneer in the energy efficiency world and is largely recognized as co-creator of the outsourced residential Demand Management programs known as Virtual Peaking Capacity, which enable utilities to use clean capacity in times of peak energy demand in lieu of conventional alternatives like peaker plants. Mr. Chiste’s most recent role was as Chairman, Founding CEO and President of Comverge, Inc., where he led the company’s rapid growth from 2001, including a highly successful IPO in 2007.
REGEN Energy has taken a large step towards growth acceleration by appointing Mr. Chiste as its new Chairman. Mr. Chiste is a tremendous addition to the REGEN team as he brings a wealth of experience and knowledge to the table. His background will help REGEN to expand its patented Swarm Energy Management™ platform for electrical Demand Side Management and automation of Demand Response for the benefit of customers across North America. This is true synergy, and it spells exciting times for REGEN Energy and the world of clean technology.