05 August 2021

Arenko signs new contract with foresight group

Arenko, a leading software platform provider to the global energy asset automation market, is pleased to announce it has signed an agreement with Foresight Group (“Foresight”), a leading infrastructure investment manager, to optimise the 50MW Sandridge energy storage asset owned by funds managed by Foresight, which is due to be operational in 2022.

Arenko will use complete end-to-end trade optimisation and automated dispatch software to maximise returns from the asset. Arenko’s cloud-based optimisation software forecasts market conditions, performs millions of simulations per day to optimise trading decisions across markets, and then securely dispatches stored energy from the assets. This complete solution results in increased return on investment (“ROI”) for asset owners and streamlined portfolio growth for flexible assets on an energy grid in which decisions have to be made with ever-increasing speed.

This is yet another step in Arenko’s technology enabling a global transition to a zero-carbon future as it aids its customers by enabling the flexibility required for the UK to run purely on zero-carbon electricity by 2025.

Rupert Newland, Founder and CEO of Arenko Group, said:

“We are pleased to have signed another major contract with a leading infrastructure investment manager in Foresight Group. Arenko will be utilising its software to deliver improved returns from the 50MW Sandridge energy storage asset. We look forward to delivering this service for our client.”

Fuad Yusibov, Investment Manager, Foresight Group, said:

“We are pleased to be optimising the Sandridge storage asset together with Arenko. We have been very impressed with Arenko’s track record, technical capabilities, and commercial proactivity. We are looking forward to generating returns for our investors and contributing to net-zero transition through various current and potential future services and markets by leveraging Arenko’s expertise.”

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