BOSTON, MA, October 02, 2008 - EnerNOC, Inc. (NASDAQ: ENOC), a leading developer and provider of clean and intelligent energy solutions, announced today that the State of Vermont has selected EnerNOC as its preferred demand response provider. The contract will allow EnerNOC to enable and manage demand response capacity from government-related buildings into the Independent System Operator of New England, Inc. (“ISO-NE”) market, creating a valuable revenue stream for the State both today and in the future as part of ISO-NE’s Forward Capacity Market.
“Vermont prides itself on its forward-thinking approach to energy management, and demand response is a solution that makes good business sense while delivering positive community and environmental benefits through increased efficiency and reliability of the electric power system,” said Gerry Myers, Commissioner of Buildings & General Services.
Under the terms of the contract, individual government buildings will be paid for agreeing to remove load from the electric power grid during times of peak demand. In addition, each site will gain basic access to EnerNOC’s PowerTrak energy management platform, which enables users to view and analyze their energy consumption data in near real time and track efficiency gains, resulting in the ability to take additional, targeted measures to reduce overall energy consumption and costs.
“The State of Vermont selected EnerNOC for its holistic approach to demand response – from establishing the right energy reduction strategies, to enabling the individual sites with state of the art technology, to working with the individual sites to ensure maximum performance,” said Tim Healy, chairman and CEO of EnerNOC. “EnerNOC has extensive experience working with state governments, and a strong track record of delivering meaningful economic, community, and environmental benefits.”
This contract with the State of Vermont is the latest in a series of government contracts won by EnerNOC, including most recently a similar contract with the State of Rhode Island that was announced in July 2008. If you would like more information about EnerNOC's smart grid applications or enrolling your business or organization into EnerNOC’s demand response network, email info@enernoc.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 success of EnerNOC’s demand response and energy management solutions and the ability of EnerNOC’s customers to derive financial benefits from such 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 Quarterly Report on Form 10-Q for the period ended June 30, 2008, as filed with the Securities and Exchange Commission on August 13, 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. |
