New partnership enhances Tyr Energy Management Group’s participation in PJM and SPP markets
HOUSTON, Texas (Apr. 21, 2020) – Adapt2 Solutions, a leading provider of AI enabled multi-market operations and trading software, today announced a new partnership with Tyr Energy, LLC (Tyr) to scale Tyr’s Energy Management Group operations in North American ISO markets, starting with PJM Interconnection (PJM) and Southwest Power Pool (SPP). Tyr will soon be managing load and generation in these RTO/ISO markets, along with generating resources in bilateral markets with Adapt2’s flexible platform.
“Tyr Energy is committed to creating a dynamic and advanced energy management business that will allow us to provide customers with efficient and effective services, and transparent results,” said Bob Moye, Senior Vice President, Energy Management, Tyr Energy. “As we shift our energy management services in-house, two factors were paramount in our decision to work with Adapt2 Solutions: complete access to data that will give Tyr and its customers a better view of asset performance, and a flexible, state-of-the-art market interface solution.”
Tyr will leverage Adapt2’s multi-market platform as the technology backbone for their energy management business including Adapt2’s Trade-to-Tag (T2T) power scheduling solution for trade management, power scheduling and commodity trade risk management (CTRM) for bilateral markets. The company will also leverage Adapt2’s end-to-end functionality on Adapt2’s Bid-to-Bill (B2B) software for front and back office operations including ISO market bidding, ISO settlement and outage management.
“We are delighted to be partnering with Tyr Energy and look forward to expanding their business. This is a unique opportunity to further our energy asset management support and empower our customers to better navigate the rapidly growing and changing market environment with scalable, flexible and value-add solutions,” said Jason Kram, Executive Vice President of Adapt2 Solutions.
About Adapt2 Solutions:
Adapt2 Solutions (Adapt2) is the leading provider of AI enabled multi-market operations software designed to help market participants streamline all of their front and back office operations. Founded in 2008, Adapt2 delivers market-based solutions on the latest and most current technologies providing customers with fast, intuitive and stable user experience and performance. With over 130 market implementations representing over 2500 market participants, Adapt2 is a leading solution provider in the energy industry. Adapt2 Solutions is a privately held company based in Houston, Texas. To learn more about Adapt2, please visit www.adapt2solutions.com.
Tyr Energy represents the North American cornerstone of the ITOCHU Corporation global electric power strategy, focused on clean and renewable generation and technology solutions. Tyr Energy currently holds interests in seventeen operating electric generation projects with gross capacity of approximately 7,500 MW, including renewable capacity of approximately 400 MW. Tyr Energy is active in the development, acquisition and financing of electric power assets and provides comprehensive asset management and oversight services to power generation and electric utility companies. Its affiliate NAES Corporation also provides operations and maintenance (O&M) services throughout the industry. More information about Tyr is available at https://www.tyrenergy.com/.