Philippe Darmayan Joins REstore's Board of Directors

PR62298

LONDON, Oct. 23, 2015 /PRNewswire=KYODO JBN/ --

    REstore [http://www.restore.eu ], recently recognised by Frost & Sullivan

as the European leader in automated Demand Response, announced today that

Philippe Darmayan, former CEO at Aperam, joins its Board of Directors as an

independent Director.

         (Photo: http://photos.prnewswire.com/prnh/20151023/279888 )

    M. Darmayan brings 35 years of experience to REstore as a former manager,

senior executive and director at large and energy-intensive businesses. He

started his career at Pechiney Group as a plant manager. From 2011 till 2014,

he served as Chief Executive Officer for Aperam, one of the world's leading

stainless steel producers listed on the Amsterdam, Luxemburg and Paris stock

markets. Philippe Darmayan is presently the president of the Board at

ArcelorMittal France, the President of the French Industry Federation (GFI)

and a member of the Board of the French Employer's Federation (MEDEF).

    "We are delighted to have Philippe Darmayan join REstore's Board of

Directors at this stage of our growth. His deep experience in energy-intensive

businesses and industry transformation projects is a valuable addition to our

Board of Directors", said Pieter-Jan Mermans and Jan-Willem Rombouts, co-CEOs

and co-founders at REstore.

    "Senior executives in Europe are increasingly looking at energy as a

controllable operating expenditure that requires active management. REstore's

software allows large industrial consumers to participate in Demand Response

programs to reduce energy cost and CO2 footprint in a way that respects the

reality on the shop floor," said Philippe Darmayan. "I am looking forward to

join REstore's Board of Directors and to help REstore extend its leadership

position in Europe."

    About REstore:

    REstore is an energy technology company, focused on automated Demand

Response. REstore offers curtailable capacity to energy utilities, balancing

responsible parties, and transmission grid operators in the form of a virtual

power plant, offering technical specifications that are fully comparable to a

gas-fired plant. The company is the leader in the fast-growing European Primary

Reserve / Frequency control market, and operates in all ancillary services and

capacity markets. The company's proprietary platform Flexpond[TM] is used by

more than 80 of Europe's largest industrial energy consumers to curtail their

power demand without impacting their industrial processes. In exchange, Estore's

industrial consumers receive significant cash payments and contribute to the

reduction in CO2 emissions. Jan-Willem Rombouts and Pieter-Jan Mermans founded

the company in 2010.

    Early October 2015, Frost & Sullivan announced to grant the 2015 European

Award for Competitive Strategy Innovation and Leadership to REstore, based on

Frost & Sullivan's recent analysis of the Demand Response (DR) market. Frost &

Sullivan concluded: "Boasting a broad range of DR solutions in all key European

energy markets, REstore is in an ideal position to make the most of the growth

opportunities in the European market. On the strength of its sophisticated and

patented Flexpond(TM) automated DR (ADR) platform, presence in high-opportunity

countries and smart automated energy management, the company is expected to

achieve its goal of 20-30 percent market share by 2018."

    Press contacts:

    Liene Donckers, Tel : +32-486-48-31-34, liene.donckers@restore.eu

SOURCE: REstore