EnerNOC Announces Investment in WeSpire
EnerNOC to Offer WeSpire's Employee Engagement Application With EIS Platform
BOSTON, Aug. 19, 2014 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), announced today that it has made a strategic investment in Boston-based WeSpire, a software-as-a-service (SaaS) company for businesses seeking an innovative approach to measure and track the positive business impact of engaging employees in sustainability through technology. Under the terms of the agreement, EnerNOC has exclusive rights in the EIS space to market a white-labeled version of WeSpire's employee engagement application, customized for enterprise and utility customers. By offering the WeSpire application, EnerNOC further enhances its ability to help businesses take a holistic approach to energy management.
With WeSpire, users earn points for actions related to projects that span energy, water, waste, transportation, food, volunteerism, and corporate citizenship. Founded in 2010, WeSpire has already achieved significant traction with notable customers, including eBay, McDonald's, Unilever, and MGM Resorts International. Through this agreement, WeSpire will be available to all EnerNOC customers.
"EnerNOC continues to be a thought leader in building the energy intelligence ecosystem, and is a perfect match with WeSpire, which has created an innovative platform to inspire our 62,000 employees on what they can do in their own lives to be more environmentally responsible," said Cindy Ortega, Senior Vice President and Chief Sustainability Officer at MGM Resorts International.
"Changing behavior is one of the most effective ways that organizations can take control of energy use, but it requires a systematic approach built on proven behavioral science. By pairing WeSpire's interactive technology to motivate people with EnerNOC's ability to pinpoint the largest opportunities for energy-related savings, organizations can not only get a high return on investment, but improve overall employee engagement metrics, and deliver against broader sustainability goals," said Susan Hunt Stevens, Founder and CEO of WeSpire.
"Organizations that are serious about taking control of energy costs understand that you need to take a holistic approach, from prioritizing large capital projects and making operational changes to align to best practices, to engaging occupants in a way that encourages them to change their behavior," said Tim Healy, Chairman and CEO of EnerNOC. "This partnership reinforces EnerNOC's vision of providing a single platform where organizations can manage energy costs and improve productivity, while at the same time, stimulating the growth of a broader category of promising young companies committed to building interesting energy intelligence software applications."
Tim Healy will join WeSpire's Board of Directors as part of the agreement.
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.
WeSpire helps companies engage people in sustainability and responsibility initiatives with persuasive technology that builds awareness, drives behavior change and measures business results. Its mobile and web platforms empower people to take positive actions at work, at home and in their community.
WeSpire recently won the "Best Doing Good Innovation" award from the Massachusetts Innovation & Technology Exchange (MITX), as well as Environmental Leader's 2014 Product of the Year. Leading global corporations, including Unilever, MGM Resorts International, NBC Universal and eBay are leveraging the company's fully customizable platform to power sustainability engagement programs for their employees and other key stakeholders. WeSpire pairs expert content with proven social and game mechanics to make embracing new habits simpler, faster and more fun.
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, including financial savings, 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," "are well positioned to," 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.