LONDON, Oct. 23, 2015 /PRNewswire/ -- REstore, recently recognised by Frost & Sullivan as the European leader in automated Demand Response, announced today that Philippe Darmayan, former CEO at Aperam, joins its Board of Directors as an independent Director.
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M. Darmayan brings 35 years of experience to REstore as a former manager, senior executive and director at large and energy-intensive businesses. He started his career at Pechiney Group as a plant manager. From 2011 till 2014, he served as Chief Executive Officer for Aperam, one of the world's leading stainless steel producers listed on the Amsterdam, Luxemburg and Paris stock markets. Philippe Darmayan is presently the president of the Board at ArcelorMittal France, the President of the French Industry Federation (GFI) and a member of the Board of the French Employer's Federation (MEDEF).
"We are delighted to have Philippe Darmayan join REstore's Board of Directors at this stage of our growth. His deep experience in energy-intensive businesses and industry transformation projects is a valuable addition to our Board of Directors", said Pieter-Jan Mermans and Jan-Willem Rombouts, co-CEOs and co-founders at REstore.
"Senior executives in Europe are increasingly looking at energy as a controllable operating expenditure that requires active management. REstore's software allows large industrial consumers to participate in Demand Response programs to reduce energy cost and CO2 footprint in a way that respects the reality on the shop floor," said Philippe Darmayan. "I am looking forward to join REstore's Board of Directors and to help REstore extend its leadership position in Europe."
REstore is an energy technology company, focused on automated Demand Response. REstore offers curtailable capacity to energy utilities, balancing responsible parties, and transmission grid operators in the form of a virtual power plant, offering technical specifications that are fully comparable to a gas-fired plant. The company is the leader in the fast-growing European Primary Reserve / Frequency control market, and operates in all ancillary services and capacity markets. The company's proprietary platform Flexpond[TM] is used by more than 80 of Europe's largest industrial energy consumers to curtail their power demand without impacting their industrial processes. In exchange, REstore's industrial consumers receive significant cash payments and contribute to the reduction in CO2 emissions. Jan-Willem Rombouts and Pieter-Jan Mermans founded the company in 2010.
Early October 2015, Frost & Sullivan announced to grant the 2015 European Award for Competitive Strategy Innovation and Leadership to REstore, based on Frost & Sullivan's recent analysis of the Demand Response (DR) market. Frost & Sullivan concluded: "Boasting a broad range of DR solutions in all key European energy markets, REstore is in an ideal position to make the most of the growth opportunities in the European market. On the strength of its sophisticated and patented Flexpond™ automated DR (ADR) platform, presence in high-opportunity countries and smart automated energy management, the company is expected to achieve its goal of 20-30 percent market share by 2018."
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