Sacramento, Calif. – The California Manufacturers & Technology Association (CMTA) welcomed new member Convergent Energy and Power (Convergent) to the organization today.
Convergent is a leading provider of energy storage solutions in North America. The organization has more than a decade of experience financing and managing the energy storage development cycle, which helps customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition.
“We are thrilled to welcome Convergent to CMTA’s membership. Their team brings valuable expertise that will help California’s manufacturers navigate the evolving energy landscape,” said Lance Hastings, President & CEO of CMTA. “Reliable and cost-effective energy solutions are critical for maintaining a strong and competitive manufacturing sector, and Convergent’s commitment to innovation aligns with CMTA’s mission to support sustainable and resilient manufacturing in our state.”
Energy storage is crucial for a more flexible and resilient grid. It allows electrons to be stored during times of low demand and dispatched during times of high demand. More storage on the grid means lower grid peaks, and results in less power needed overall.
“The power grid is the single most expensive thing America has ever built, and it is not prepared to meet this moment of crisis, as defined by increasing electrification, urbanization, and extreme weather events,” said Johannes Ritterhausen, CEO of Convergent. “Energy storage, especially when paired with solar, is the answer to many of today’s challenges.”
Convergent has continually delivered many industry “firsts,” consistently proving that energy storage will contribute meaningfully to a clean energy future.
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About CMTA
The California Manufacturers & Technology Association (CMTA) has advocated for pro-growth laws and regulations before the California legislature and administrative agencies since 1918. The total output from manufacturing in California is $300 billion per year, roughly 10 percent of the total economic output of the state. Manufacturers employ 1.3 million Californians paying wages more than $2,500 higher than other non-farm employers in the state.
About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $1bn invested in or committed to assets in operation or under development across North America.