BOSTON, MA, April 28, 2008 – EnerNOC, Inc. (NASDAQ: ENOC) announced today that its customer, the J. Craig Venter Institute (JCVI), a not-for-profit world leader in genomic research, has been awarded the Energy Planning Network’s 2007 Energy Users Excellence Award for Best Energy Procurement Initiative. Through EnerNOC’s energy procurement services platform, JCVI has been able to reduce its projected annual energy costs by seven percent.
EnerNOC’s technology-driven energy procurement services, a component of its energy management solutions portfolio, provides commercial, institutional and industrial customers strategic guidance and a reverse-auction technology platform, called the EnerNOC Exchange™, to secure favorable supply contracts in restructured energy markets. EnerNOC’s energy procurement services team educates customers on the energy market in their region and works directly with each customer to develop an appropriate procurement strategy that maps to its specific priorities and needs, such as long-term price stability or short-term, aggressively-priced energy.
For JCVI, the primary objective for an EnerNOC-powered procurement program was to reduce energy costs. With approximately 400 scientists and staff and more than 200,000 square feet of laboratory and research facilities, JCVI consumes approximately 18.5 million kilowatt-hours of electricity per year. JCVI’s annual energy costs have steadily increased over the last several years, compelling the research institute to seek new approaches to energy procurement.
“Genomic laboratories like the JCVI are particularly energy-intensive operations. Since electricity is one of our major expenses, we have long been focused on how to decrease these costs,” said Yann Palmore, Director of Operations, JCVI. “By working with EnerNOC, we were able to take a critical look at our energy needs, create an RFP that accurately outlined our requirements and utilize the EnerNOC ExchangeSM reverse-auction technology platform to attract a broad range of competitive offers. We’re very pleased that we decreased our costs by 7 percent, and we’re honored to receive the 2007 Energy Users Excellence Award.”
“JCVI’s energy procurement project showed initiative and a commitment to maximizing the benefits of a competitive market,” said John Hoggard, Energy Planning Network. “By partnering with EnerNOC, JCVI was able to execute its energy procurement program in a matter of weeks, while reducing its projected energy costs by seven percent.”
“It can be challenging for organizations to navigate the nuances of restructured energy markets. As a technology-enabled specialist, we help to manage the technical and operational complexities of competitively procuring energy, including natural gas and electricity,” said David Brewster, EnerNOC’s president. “Our energy procurement services remove the complexity and provide the transparency that our customers need to make more informed decisions about their energy purchases.”
To learn more about EnerNOC’s energy procurement services and total energy management solutions, please visit www.enernoc.com .
About The Energy Planning Network
Founded in 1993, EPN began as an exciting Peer Group dedicated to networking professionals managing utility/energy decisions in large commercial/industrial corporations. A decade later, we launched a second membership-based Peer Group (The Utility CIS/CRM Consortium) to network, educate and advocate professionals managing customer care and related technological initiatives within electric, gas and water companies. Each consortium is directed by a Steering Committee – the latter directed by a committee of utility CIS/CRM professionals and the former directed by a committee of corporate utility/energy managers. For more information, please see www.utiliplan.com.
About EnerNOC
EnerNOC, Inc. is a leading developer and provider of clean and intelligent energy solutions to commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. EnerNOC's technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center, or NOC, to remotely manage and reduce electricity consumption across a network of commercial, institutional, and industrial customer sites and make demand response capacity and energy available to grid operators and utilities on demand. 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 future growth and success of EnerNOC’s demand response and energy management solutions, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 Annual Report on Form 10-K, as filed with the Securities and Exchange Commission on March 28, 2008, 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, EnerNOC’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. |
