Convergent Energy and Power (Convergent), a North American energy storage solutions provider, has released its third annual Sustainability and Impact Report, marking a significant step forward in its commitment to Environmental, Social, and Governance (ESG) principles. This year’s report underscores the company’s efforts to weave ESG performance into its overall success metrics, illustrating a proactive approach to addressing the challenges posed by the climate crisis.
Johannes Rittershausen, CEO of Convergent, emphasized the urgency and motivation driving the company’s ESG-focused business strategy. “There has never been a more motivating or urgent time to be an ESG-led business,” Rittershausen stated. “This report documents our demonstrated leadership in the renewable energy sector but also our commitment to improve in the year ahead. We’re proud to be in the business of accelerating the clean energy transition through AI-powered energy storage. The future of energy depends on our ability to store it, and we look forward to continuing to create a more sustainable future for our employees, customers, communities, and planet.”
The 2023 report revealed several key achievements, including Convergent’s improved ESG risk rating from the previous year, earning it the title of “ESG Industry Top-Rated” by Sustainalytics. Notably, Sustainalytics positioned Convergent as the seventh-lowest risk entity among 706 utilities sector companies rated as of April 2023. Over half of the energy storage projects originated by Convergent in the past two years have incorporated solar photovoltaic (PV) technology. This achievement aligns with the company’s strategic focus on solar-plus-storage systems, which are instrumental in reducing carbon emissions. Convergent’s initiatives in 2023 led to a reduction of nearly 21,500 metric tons of CO2, showcasing the tangible impact of its sustainability efforts.
With more than a decade of expertise and over 500,000 hours of safe, incident-free operations, Convergent’s energy storage systems meet the highest industry and safety standards, including UL 1741 and UL 9540. The company has made significant strides in enhancing the electric grid’s reliability, economy, and sustainability by developing over 800 MW / 1 GWh of energy storage and solar-plus-storage systems. These efforts, representing more than $1 billion invested or committed to systems in operation or development, are equivalent to powering approximately 750,000 homes.
Frank Genova, Co-Founder and Chief Financial Officer of Convergent, highlighted the company’s pioneering role in the energy storage sector. “Convergent has been a trailblazer in identifying new applications and industry firsts for both energy storage and solar-plus-storage, including the first non-wires alternative for utility infrastructure in the United States and the largest (at the time) behind-the-meter battery energy storage system in North America,” said Genova. “We are excited to continue offering solutions for our customers that also contribute to a better energy future and planet.”
