PRTI, a Franklinton-based environmentally responsive tire-to-energy business, has reached a strategic partnership with Causam Energy, a Raleigh-based leader in the new transactional energy marketplace.
PRTI will utilize Causam’s EnergyNet software platform to sell its distributed energy back to the power grid through local utilities and open regional energy markets across North America. Causam Energy announced the commercial release of its EnergyNet Distributed Energy Resource transactional platform in September.
This multi-year partnership between two rapidly expanding North Carolina companies includes a combination of shared strategic goals and associated investment and vision about the future.
Jason A Williams, President and CEO of PRTI said, “We are excited to partner with Causam, their CEO Joe Forbes, and the entire team. Causam are natural partners for us as we implement and expand our green energy creation thesis. From waste, to Watts to cents, the Causam-PRTI team can now truly harness and monetize waste materials, starting with car tires.” Joe Forbes, CEO of Causam Energy, said “The combination of PRTI’s distributed energy resource production of green power and the EnergyNet® software suite is one of the first true implementations of transactive energy services for the new distributed electric power grid.”
This announcement also confirms the personal investment in Causam by Jason Williams. Jason explained,
“while investigating the opportunity for both businesses to work together, it became a natural choice for me to add Causam to my investment portfolio.” The details of the investment were not disclosed.
PRTI and Causam look to support the evolution and growth of the distributed energy resource and microgrid industry by creating a pathway to value for energy system producers, consumers, regulators, utilities and deregulated energy markets. Joe Forbes, CEO of Causam, commented “The continued growth of Causam relies on key partners like PRTI. PRTI’s unique Thermal Demanufacturing is a fantastic way to convert waste into energy, and the EnergyNet transactional platform will enable the easy monetization of PRTI’s environmentally progress production of green power.”
Williams is the President and CEO of PRTI. In 2001 he founded Urgent Cares of America (which became FastMed) where he served as the President and Chief Executive Officer of the company from 2001 until October in 2010. He is an active angel investor, General Partner of the pre-seed fund Full Tilt Capital, and is an advisor to Duke University Medical School for their Innovations in Healthcare.
Forbes is the CEO of Causam Energy and EnergyNet, the latest portfolio company of Causam Energy. Causam Energy’s leadership position in intellectual property, its direct experience with renewables, distributed energy resources and microgrids uniquely positions the company to serve the growing and un-met need for the physical and financial integration of new distributed electric generation assets into the existing energy markets.
Note: The North Carolina Center of Innovation Network is a partner with WRAL TechWire.
