EnerNOC’s Demand Response Portfolio in Korea Surpasses One Gigawatt
November 03 2016 - 7:02AM
EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy
intelligence software (EIS) and demand response solutions,
announced today that its demand response portfolio in Korea
surpassed one gigawatt—roughly equivalent to the amount of power
generated by a nuclear power plant.
EnerNOC entered the market in late 2014, following legislation
earlier that year that introduced demand response into the
country’s wholesale capacity market. Since establishing operations
in Korea, EnerNOC has become the preferred demand response provider
to some of the region’s largest enterprises, public institutions,
and universities, including S-Oil, COEX, Korea University, and
Seoul City Government.
“We partnered with EnerNOC because they’re the world’s leader in
demand response. They have the experience we rely on to ensure that
we can participate in demand response without compromising our
operations,” said JaeHee Kang, Facility Manager at Korea
University.
Demand response has grown rapidly in Korea, propelled by the
government’s strong commitment to creating a sustainable and
competitive market and EnerNOC’s ability to leverage its
industry-leading technology and experience to scale quickly.
“Korea relies on fuel imports to meet nearly 100% of its
electricity needs. Demand response gives the Korean government
increased flexibility to meet demand in a clean, cost-efficient
way, with a reliable domestic energy resource, while at the same
time allowing Korean businesses to use their flexibility to earn
valuable new revenue streams,” said David Brewster, President,
EnerNOC.
“Our success in Korea has been instrumental in stimulating
interest throughout Asia. We’re excited about the emerging
opportunities we see on the horizon to make DR a more integral part
of the resource mix throughout the region,” added Brewster.
About EnerNOC
EnerNOC is a leading provider of energy intelligence software
(EIS) and demand response solutions. With capabilities to better
address budgets and procurement, utility bill management, facility
analysis and optimization, sustainability and reporting, project
tracking, and demand management, EnerNOC's SaaS platform helps
enterprises control energy costs, mitigate risk, and streamline
compliance and sustainability reporting. EnerNOC also offers access
to more demand response programs worldwide than any other provider,
offering enterprises a valuable payment stream to further enhance
bottom line results and utilities and grid operators a reliable,
cost-effective demand-side resource. For more information, visit
www.enernoc.com.
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 Company's future financial performance on both a GAAP and
non-GAAP basis, and the future growth and success of the Company's
energy intelligence software and demand response solutions, 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.
EnerNOC Media Relations:
Sarah McAuley
617.532.8195
news@enernoc.com
EnerNOC Investor Relations:
Christopher Sands
617.692.2569
ir@enernoc.com
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