EnerNOC and GridPoint to Offer Integrated Energy Management Solution
Partnership Expands Both Companies' Addressable Markets and Enhances Value for Customers
BOSTON and ARLINGTON, Va., Mar. 19, 2015 (GLOBE NEWSWIRE) -- 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.
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.
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.
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.