GridPoint and EnerNOC to Offer Integrated Energy Management Solution
March 19 2015 - 4:05PM
Business Wire
Partnership Expands Both Companies’ Addressable
Markets and Enhances Value for Customers
EnerNOC, Inc. (Nasdaq: ENOC), a leading provider of energy
intelligence software (EIS), and GridPoint, an innovator in
data-driven energy management systems (EMS), today announced that
they have executed a partnership to offer the commercial market a
more comprehensive energy management solution. With this joint
solution, EnerNOC will be able to provide its customers with more
cost-effective, granular submetering and monitoring capabilities,
and further automate energy reduction plans. GridPoint customers
will be able to leverage EnerNOC’s energy intelligence software to
buy energy at the best possible rate, manage utility bills,
optimize consumption, streamline reporting, participate in
additional demand response programs, and proactively manage peak
demand.
“The core technologies of EnerNOC and GridPoint complement each
other in a way that gives both companies the ability to help
customers cost-effectively and intelligently manage their energy
spend,” said Todd Raba, President and CEO of GridPoint. “Through
this partnership, we can bring EnerNOC's and GridPoint’s
cloud-based energy management software to a wider variety of
customers who will benefit from the combined strength of both
companies.”
“Our collaboration with GridPoint pairs two industry-leading
solutions to deliver a comprehensive enterprise platform for energy
expense management, while at the same time reducing customer set-up
costs and allowing us to serve new market segments,” said Tim
Healy, Chairman and CEO of EnerNOC.
The companies’ integrated offering allows enterprises to lower
their energy bills by collecting and analyzing site data to
intelligently control critical building systems without sacrificing
occupant comfort. It also combines energy cost information and
portfolio-level analytics from EnerNOC’s energy intelligence
software with GridPoint’s equipment-level control and submetering
data, establishing a comprehensive enterprise platform for energy
management.
The initial focus for the partnership is to increase both
companies’ addressable markets by enhancing penetration in
verticals where energy is a major operational cost across large
portfolios of sites, such as multi-site retail and food service. As
part of this partnership, EnerNOC will be able to offer its energy
intelligence software to new segments, and GridPoint will be able
to offer a broader solution with new capabilities and an increased
ROI.
About EnerNOC
EnerNOC is a leading provider of cloud-based energy intelligence
software (EIS) and services to thousands of enterprise customers
and utilities globally. EnerNOC’s EIS solutions for enterprise
customers improve energy productivity by optimizing how they buy,
how much they use, and when they use energy. EIS for enterprise
includes budgeting and procurement, utility bill management,
facility optimization, visibility and reporting, project tracking,
demand management, and demand response. EnerNOC’s EIS solutions for
utilities help maximize customer engagement and the value of
demand-side resources, including demand response and energy
efficiency. EnerNOC supports customer success with its world-class
professional services team and a Network Operations Center (NOC)
staffed 24x7x365. For more information, visit www.enernoc.com.
About GridPoint
GridPoint is an innovator in comprehensive, data-driven energy
management solutions (EMS) that leverage the power of real-time
data collection, big data analytics and cloud computing to maximize
energy savings, operational efficiency, capital utilization and
sustainability benefits. GridPoint’s integrated energy management
portfolio of asset-level submetering and monitoring, intelligent
control, energy management software and professional services can
generate energy savings up to 30% and an 18-36 month payback.
GridPoint solutions are deployed at over 10,000 sites with over
90 billion customer data points collected to date, and 75 million
added daily. Customers include 5 of the top 10 retailers by total
sales, 3 of the top 10 casual dining restaurants, 5 of the top 20
quick serve restaurants, leading commercial and industrial
enterprises and major government and educational institutions. To
learn more, visit GridPoint.com, and keep up with the latest
GridPoint news via LinkedIn linkedin.com/company/gridpoint and
Twitter @gridpoint.
EnerNOC Safe Harbor Statement
Statements in this press release regarding management’s future
expectations, beliefs, intentions, goals, strategies, plans or
prospects, including, without limitation, statements relating to
the future growth and success of the Company’s energy intelligence
software, and the benefits that customers may derive from
technology updates or enhancements to that software, may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and other federal
securities laws. Forward-looking statements can be identified by
terminology such as “anticipate,” “believe,” “could,” “could
increase the likelihood,” “estimate,” “expect,” “intend,” “is
planned,” “may,” “should,” “will,” “will enable,” “would be
expected,” “look forward,” “may provide,” “would” or similar terms,
variations of such terms or the negative of those terms. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors including those risks,
uncertainties and factors referred to under the section “Risk
Factors” in EnerNOC’s most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q, as well as other
documents that may be filed by EnerNOC from time to time with the
Securities and Exchange Commission. As a result of such risks,
uncertainties and factors, the Company’s actual results may differ
materially from any future results, performance or achievements
discussed in or implied by the forward-looking statements contained
herein. EnerNOC is providing the information in this press release
as of this date and assumes no obligations to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
GridPointMedia Contact:Sarah Trainor,
703-667-7173media@gridpoint.comorEnerNOC, Inc.Media Contact:Robin
Deliso, 617-692-2601news@enernoc.comorInvestor Relations
Contact:Christopher Sands, 617-692-2569ir@enernoc.com
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