Maxima LT UAB, the company controlling the largest food retail chain in Lithuania, has signed an agreement with Fusebox OÜ. The cooperation allows Maxima in the first phase to save up to 100 tons of CO2 a year by integrating smart electricity management in their convenience stores while at the same time contributing to the Baltic energy security and the better balancing of electricity in the grid.
“Sustainability and the conservation of resources together with the environment have always been an integral part of our brand strategy”, noted Vilius Rimkus, the head of the Asset Management Department of Maxima. “Partnering with Fusebox gives us the technical capabilities to take a large step towards a smarter and more sustainable power consumption, which we are very excited about.”
Tarvo Õng, the CEO of Fusebox had this to add: “We at Fusebox are thrilled to see Maxima join demand response, making the world yet a bit greener. And we are not just talking about the environment. The development of the energy market provides an opportunity for consumers to be more involved and contribute to the security of the electricity system and the reduction of CO2 emissions, while at the same time getting paid to do so.”
By using Fusebox’s solutions Maxima can modify its energy usage smartly, shutting off machinery or adjusting thermostat settings to reduce the net electrical system load and avoid the high marginal prices.
Launched in 2014, Fusebox is the largest demand response solution provider in the Baltic region. The company helps its clients to reduce their electricity bills through usage optimization and by earning additional revenue from balancing markets.
Maxima LT is the largest Lithuanian capital company. More than 400,000 customers visit the Maxima stores operating in Lithuania every day, where there are 252 stores located over the country. The company is part of the Vilniaus Prekyba group, which controls and manages the group of subsidiary companies operating chains of retail stores and pharmacies as well as real estate development and property management companies in the Baltic States, Sweden, Poland and Bulgaria.