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GridPoint CEO Peter L. Corsell Recognized By Technology Review’s Prestigious TR35 Listing of the World’s Top Young Innovators for 2008

August 21, 2008

GridPoint Inc., a leading clean tech company whose smart grid platform benefits electric utilities, consumers and the environment, announced that its President and CEO Peter L. Corsell has been recognized by Technology Review magazine as one of the world’s top innovators under the age of 35 for developing a practical solution to advance the development of a Smart Grid. Selected from more than 300 nominees by a panel of expert judges and the editorial staff of Technology Review, the TR35 is an elite group of accomplished young innovators who exemplify the spirit of innovation.

“Peter Corsell is a persistent visionary: He sees the day when individual consumers can become active participants in the power grid, managing their own electricity use online to reduce consumption and costs,” said Esther Dyson, renowned futurist and technology author. “This vision empowers users and enables utilities to more efficiently use existing capacity, which ultimately means building fewer of the most expensive, most polluting power generation facilities. This can be a hard sell in the legacy world of electric utilities, but Peter has the grit and determination to prevail.”

GridPoint is the pioneer of innovative smart grid platform that empowers utilities to optimize electrical grid management, achieve business objectives, increase grid reliability, promote environmental stewardship and fuel the adoption of renewable energy sources. The platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed energy resources that controls load, stores energy and produces power. For consumers, the platform provides protection from power outages, increases energy efficiency through online energy management and integrates renewable energy, paving the way for the commercial success of solar and wind energy sources.

“The TR35 honors young innovators for accomplishments that are poised to have a dramatic impact on the world as we know it,” said Jason Pontin, editor in chief and publisher of Technology Review magazine. “We celebrate their success and look forward to their continued advancement of technology in their respective fields.”

Corsell and the other TR35 winners for 2008 will be featured in the September issue of Technology Review magazine and honored at EmTech08 Conference to be held at MIT in Cambridge, Mass. September 23-25, 2008.

Additional information about past and present TR35 winners and judges is available at www.technologyreview.com/tr35/. For more information about EmTech08 Conference please visit www.technologyreview.com/emtech/08/index.aspx.

GridPoint is working with utilities including Duke Energy and Xcel Energy, which has selected the GridPoint Platform for its $100 million SmartGridCity(TM) initiative in Boulder, Colo. The company is a 2008 World Economic Forum Technology Pioneer and featured in the books Earth: The Sequel and The Clean Tech Revolution.

About GridPoint

GridPoint Inc., a leading clean tech company, is the pioneer of an innovative smart grid platform that aligns the interests of electric utilities, consumers and the environment through an intelligent network of distributed energy resources that controls load, stores energy and produces power. The platform applies information technology to the electric grid to enable distributed energy resources to perform the same as central-station generation. During peak periods, utilities efficiently balance supply and demand by discharging stored power from distributed generation assets or reducing customers’ non-essential loads through demand response programs. Additionally, utilities effectively optimize baseload generation assets and relieve stress on T&D assets. The platform’s modular, scaleable and upgradeable architecture enables utilities to deploy proven technologies, (e.g., load control devices and advanced batteries) while creating a practical path for integrating new technologies (e.g., plug-in hybrid electric vehicles (PHEVs) and fuel cells). For consumers, the platform provides protection from power outages, increases energy efficiency through online energy management and integrates renewable energy, paving the way for the commercial success of solar and wind energy sources. On the Net: www.gridpoint.com.

About Technology Review, Inc.

Technology Review, Inc., an independent media company owned by the Massachusetts Institute of Technology, is the authority on the future of technology, identifying emerging technologies and analyzing their impact for leaders. Technology Review’s media properties include Technology Review magazine, the oldest technology magazine in the world (founded in 1899); the daily news website TechnologyReview.com; and events such as the annual EmTech Conference at MIT.




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