Parsons Launches New Version of DERMS, Enhancing Grid Reliability and Resiliency

Rhea-AI Summary

Parsons (NYSE: PSN) has launched an enhanced version of its DERMS solutions platform, a distributed energy resource management system designed to optimize renewable energy integration. The platform, available as SaaS or enterprise landed, helps utilities and grid operators manage various energy resources including solar panels, wind turbines, and battery storage.

The system integrates with Advanced Metering Infrastructure (AMI) to improve efficiency, flexibility, and cost savings while supporting new business models like virtual power plants. Key features include data-driven analytics, enhanced customer engagement, and improved grid reliability through real-time monitoring and control capabilities.

Positive

• Launch of new DERMS platform creates potential new revenue streams through virtual power plants
• Integration with AMI enhances operational efficiency and cost savings
• Platform expansion enables real-time analytics and improved grid management capabilities

Negative

• None.

CHANTILLY, Va., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) has launched the latest version of its DERMS solutions platform, a distributed energy resource (DER) management system and IoT platform. This open standards-based system, available as SaaS or enterprise landed, revolutionizes the integration and realization of the environmental and economic benefits of renewable energy also known as DERs that include solar panels, wind turbines, energy storage, electric batteries, thermostat controllers and building energy systems.

The DERMS solution provided by Parsons aids utilities and grid operators in optimizing the scheduling and delivery of DERs, enhancing ROI by integrating DERs with legacy fuel supplies. It mitigates intermittencies from renewable sources, reduces carbon emissions, and improves efficiency, resiliency, and economic planning. The platform also supports new business models like virtual power plants (VPPs), creating new revenue streams.

“Our DERMS solution represents an advancement from early DRMS functionality that was based on isolated operations of monitoring and controlling energy resources,” said Robert Nawy, Director of IPK Power Division, Parsons. “The integration with Advanced Metering Infrastructure (AMI) increases efficiency, flexibility, cost savings, and sustainability for utilities and grid operators, benefiting residential, commercial, and industrial customers.”

Key features of DERMS solutions provided by DERMS with AMI include:

• Data-Driven Decision Making & Analytics: Granular data on energy usage enhances DER management, demand response programs, load forecasting, and real-time grid balancing.
• Enhanced Customer Engagement: Real-time energy usage information allows customers to participate in demand response programs and make informed decisions.
• Improved Reliability and Resilience: Real-time data helps quickly identify and respond to outages, manage peak loads, and integrate renewable energy sources effectively.
• The Parsons’ platform includes technological extensions that span a menu of integrated resources and systems, enhancing control and economic optimization with real time analytics across the following infrastructure:
• Integrated Resources: Solar Photovoltaic (PV); Wind Turbines; Battery Storage; Electric Vehicles & Vehicle to grid (V2G); Hydro Power; Natural Gas Generation; Building energy Management Systems (BEMS); Energy Management Systems (EMS)
• Integrated Systems: Customer Relationship Management (CRM); Meter Data Management (MDM); Customer Care and Billing Systems; Outage Management Systems (OMS); Geographic Information Systems (GIS); SCADA & Automated Distribution Management Systems; Advanced Meter Infrastructure (AMI); Transformer Monitoring

Parsons evolution from early DRMS to the updated DERMS with AMI integration represents a significant advancement in the ability to manage and optimize distributed energy resources, driven by improvements in data collection, real-time analytics, and system integration.

For more information on how Parsons DERMS may revolutionize energy management or to request a demo, visit https://www.parsons.com/products/derms/.

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit parsons.com and follow us on LinkedIn and Facebook to learn how we're making an impact.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on our current expectations, beliefs and assumptions, and are not guarantees of future performance. Forward-looking statements are inherently subject to uncertainties, risks, changes in circumstances, trends, and factors that are difficult to predict, many of which are outside of our control. Accordingly, actual performance, results, and events may vary materially from those indicated in the forward-looking statements, and you should not rely on the forward-looking statements as predictions of future performance, results, or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in the forward-looking statements, including, among others: any issue that compromises our relationships with the U.S. federal government or its agencies or other state, local, or foreign governments or agencies; any issues that damage our professional reputation; changes in governmental priorities that shift expenditures away from agencies or programs that we support; our dependence on long-term government contracts, which are subject to the government’s budgetary approval process; the size of our addressable markets and the amount of government spending on private contractors; failure by us or our employees to obtain and maintain necessary security clearances or certifications; failure to comply with numerous laws and regulations; changes in government procurement, contract or other practices or the adoption by governments of new laws, rules, regulations, and programs in a manner adverse to us; the termination or nonrenewal of our government contracts, particularly our contracts with the U.S. federal government; our ability to compete effectively in the competitive bidding process and delays, contract terminations, or cancellations caused by competitors’ protests of major contract awards received by us; our ability to generate revenue under certain of our contracts; any inability to attract, train, or retain employees with the requisite skills, experience, and security clearances; the loss of members of senior management or failure to develop new leaders; misconduct or other improper activities from our employees or subcontractors; our ability to realize the full value of our backlog and the timing of our receipt of revenue under contracts included in backlog; changes in the mix of our contracts and our ability to accurately estimate or otherwise recover expenses, time and resources for our contracts; changes in estimates used in recognizing revenue; internal system or service failures and security breaches; and inherent uncertainties and potential adverse developments in legal proceedings, including litigation, audits, reviews, and investigations, which may result in materially adverse judgments, settlements, or other unfavorable outcomes. These factors are not exhaustive and additional factors could adversely affect our business and financial performance. For a discussion of additional factors that could materially adversely affect our business and financial performance, see the factors included under the caption “Risk Factors” in our Registration Statement on Form S-1 and our other filings with the Securities and Exchange Commission. All forward-looking statements are based on currently available information and speak only as of the date on which they are made. We assume no obligation to update any forward-looking statement made in this presentation that becomes untrue because of subsequent events, new information or otherwise, except to the extent we are required to do so in connection with our ongoing requirements under federal securities laws.

Media Contact:
Bryce McDevitt
+1.703.851.4425
Bryce.McDevitt@parsons.com

Investor Relations Contact:
Dave Spille
+ 1.571.655.8264
Dave.Spille@parsons.us

FAQ

What is Parsons' new DERMS platform and what does it do?

Parsons' DERMS is a distributed energy resource management system that helps utilities optimize renewable energy integration, including solar panels, wind turbines, and battery storage, while improving grid reliability and efficiency.

How does Parsons (PSN) DERMS platform integrate with existing infrastructure?

The platform integrates with Advanced Metering Infrastructure (AMI) and various systems including CRM, billing systems, outage management, and SCADA, enabling comprehensive energy resource management and optimization.

What are the key features of Parsons' new DERMS platform?

Key features include data-driven analytics, enhanced customer engagement through real-time energy usage information, improved grid reliability, and support for virtual power plants (VPPs).