EnerNOC Signs New Contract with Kyushu Electric Power Company
February 02 2017 - 8:20AM
EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy
intelligence software (EIS) and demand response solutions,
announced today that after successful pilots with several Japanese
utilities, the company has signed its first commercial-scale
contract with Kyushu Electric Power Company. Under the term of this
initial contract, EnerNOC Japan will provide 60 megawatts of
turnkey demand response capacity starting this summer.
“This is a significant milestone for our Japanese
operations. Over the past several years, the Japanese market has
slowly been working its way through a period of market reform.
During that time, we have been through a rigorous and lengthy pilot
process consistently proving that demand response can be a highly
valuable system resource,” said Jeff Renaud, Vice President and
Managing Director, Asia Pacific, EnerNOC. “As the Japanese market
continues down this path, it is exciting to move out of our
incubation period and, together with our joint venture partner,
Marubeni Corporation, scale up our operations to capitalize on what
is emerging as a highly attractive market opportunity.”
According to a recent report from Navigant
Research, global demand response revenue is expected to increase
from less than $2.5 billion in 2017 to over $6.5 billion in 2025,
with Asia Pacific representing the fastest growing region. As the
world's third largest economy, Japan's electric demand is similar
to that of the PJM Interconnection in the United States, EnerNOC's
largest market, and represents a significant growth opportunity for
the Company.
“EnerNOC is the global leader in demand response
with a proven track record throughout the Asia Pacific region,”
said Tim Healy, Chairman and CEO of EnerNOC. “Our entry into Japan
through our joint venture with Marubeni has enabled us to establish
an early market presence, cost effectively operate through the
pilot phase of market development, and now capitalize on our
first-mover advantage.”
About EnerNOC
EnerNOC Japan is a Joint Venture established in
2013 between EnerNOC Inc. and Marubeni Corp. 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:
ir@enernoc.com
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