Convergent Energy and Power Partners with Clemens Food Group to Provide Cost-Reducing Energy Storage System and Mitigate the Impact of PJM Capacity Prices

NEW YORK--(BUSINESS WIRE)--Convergent Energy and Power (Convergent), a leading provider of energy storage solutions in North America, announced today its plans to provide Clemens Food Group with an energy storage system. The system is expected to stabilize Clemens’ energy costs at its Hatfield, Pa. facility, and provide insulation against PJM’s rising capacity costs. Convergent will finance, own, and operate the 14.5MW / 29MWh industrial-scale battery energy storage system, leveraging its proprietary energy storage intelligence, PEAK IQ®, to maximize value. The system is projected to come online in 2026.

PJM, the market operator for the Mid-Atlantic, announced increased capacity charges for businesses like Clemens, which are expected to rise significantly year-over-year starting in June 2025. Convergent will charge and discharge its battery storage system for Clemens at strategic times, storing energy when it is cheapest and discharging energy to displace reliance on the electric grid during the most expensive times. As a result, Clemens will be able to reduce its energy costs and hedge against future volatility in energy pricing.

“We are proud to partner with Clemens Food Group, a family-owned, local business to help reduce their energy costs and their product cost to consumers,” says Johannes Rittershausen, CEO, Convergent Energy and Power. “Convergent has a nearly 15-year track record of financing, owning, and operating energy storage systems on behalf of our customers to reduce costs, while improving the resilience and sustainability of the electric grid.”

Founded in 2011, Convergent is one of the original players in the energy storage sector and has over $1bn invested in projects in operation or allocated to projects under development across North America.

About Clemens Food Group
Founded in 1895, Clemens Food Group is a sixth-generation, family-owned vertically coordinated pork production operation, with sister organizations that include feed milling, farming, processing, transportation and logistics. As one of the largest pork processing companies in the U.S., Clemens Food Group focuses on supplying the highest quality products to our partners via a responsive and sustainable system, while also providing advanced solutions that simplify our partners’ operations. Founded on the family values of ethics, integrity and stewardship, Clemens Food Group is deeply committed to animal care, our team members and the communities in which we operate. For more information, visit clemensfoodgroup.com.

About Convergent Energy and Power
Convergent Energy and Power (Convergent) is a leading provider of energy storage solutions in North America. Convergent has over a decade of experience financing and managing all aspects of the energy storage development cycle to help customers reduce electricity costs and increase reliability. The company’s commercial, industrial, and utility-scale assets can yield seven-figure savings while advancing the clean energy transition. Convergent’s proprietary asset management platform, PEAK IQ® leverages machine learning and deep market knowledge to optimize asset performance and maximize value. Convergent has over $1bn invested in or committed to assets in operation or under development across North America. For more information, visit convergentep.com or follow us on LinkedIn.