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|Traded as||(NASDAQ: ENOC)|
|Founded||June 5, 2003|
|Founder||Timothy Gregg Healy, David Benjamin Brewster|
|Tim Healy, CEO and Chairman
David Brewster, President
Gregg Dixon, Senior Vice President of Marketing and Sales
Neil Moses, Chief Financial Officer and Treasurer
|Products||Demand response, energy management systems|
|Revenue||US$286.608 Million (2011)|
|US$-9.537 Million (2011)|
|US$-13.383 Million (2011)|
|Total assets||US$355.808 Million (2011)|
|Total equity||US$247.740 Million (2011)|
Number of employees
|Subsidiaries||List of Subsidiaries|
EnerNOC is among the largest providers of energy intelligence software and services for commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. It chiefly provides demand response services that maintain real-time balance between electricity supply and demand. Its energy management services provide solutions for energy conservation and efficiency, in addition to consulting services for energy supply management. These services may also reduce greenhouse gas emissions in many cases, also providing the opportunity for its clients to earn renewable energy credits.
- 1 History
- 2 Products
- 3 Structure
- 4 Notable work
- 5 Awards and recognition
- 6 References
- 7 External links
EnerNOC was first established by Timothy G. Healy and David Brewster, as EnerNOC, LLC in New Hampshire from December 2001 until June 2003. On June 5, 2003 EnerNoc was incorporated in Delaware. Today their corporate headquarters is at One Marina Park Drive, Suite 400, Boston, Massachusetts 02210.
Initial Public Offering
EnerNOC went public in 2007 on the NASDAQ stock exchange at US$26 per share followed by a rally to US$50 per share in spite of reporting two consecutive annual losses. EnerNOC provided the strongest IPO by percentage increase in the green energy sector for the year. The offering included 3.75 million shares. US$98 million was raised with underwriters Credit Suisse and Morgan Stanley.
EnerNOC owns numerous subsidiaries around the world. In 2009, EnerNOC bought Cogent Energy and acquired eQuilibrium Solutions, which provides carbon accounting solutions. In March, 2010, EnerNOC bought SmallFoot, LLC, a company that makes wireless systems to manage demand for smaller facilities. Tim Healy, CEO of EnerNOC, said of the acquisition, "Going deeper into this underserved market represents a large growth opportunity for our company. SmallFoot gives us additional technology to unlock all forms of demand response and deploy our full suite of applications in this exciting market."
In late 2010 and early 2011, respectively, EnerNOC announced agreements to acquire Global Energy Partners and M2M Communications. Global Energy Partners is "an industry leader in designing and implementing utility energy efficiency and demand response programs." M2M Communications specializes in wireless technology solutions for energy management and demand response.
As of March 31, 2011, EnerNOC had over 10,000 sites using its services and software, including commercial buildings, supermarkets, industrial sites, and universities. EnerNOC's software and consulting services include demand response (DemandSMART), energy efficiency (EfficiencySMART), energy supply management (SupplySMART), and greenhouse gas emissions management (CarbonSMART).
For its demand response service, EnerNOC connects each participating site to its network operations center, or NOC. If a utility company or grid operator has a sudden increase in demand, EnerNOC communicates with customers connected to its network in order to reduce energy use. This can restore balance to the system and prevent the need for the utility to purchase more expensive electricity or even avoid blackouts or brownouts in some cases. During a demand response dispatch, a participating site might switch over to a generator, reduce air conditioning or lighting usage, or power down appliances or other equipment that are not being used. If a site reduces its energy usage during these dispatches, the utility company or grid operator will pay EnerNOC and the customer for this service. Customers are also paid for being on call to reduce demand, thereby providing a superficial, but accountable, capacity to the grid operator or utility. EnerNOC offers a web-based demand response software application, they call DemandSMART, that enables its customers to track their own individual energy reductions.
EnerNOC offers other software applications, consulting services, and hardware devices that monitor or shutdown customer equipment to reduce energy usage. EfficiencySMART is a software program that receives real-time monitoring data and offers traditional commissioning, retro-commissioning, and energy audit services. SupplySMART offers consulting and advising services to help companies buy energy efficiently and reduce price risk. CarbonSMART tracks and manages greenhouse gas emissions for companies trying to reduce their emissions or meet emissions reporting standards.
Timothy G. Healy
Co-Founder, Chief Executive Officer and Executive Chairman since its founding of Enernoc, Inc. Timothy G. Healy currently serves as an Advisor of Boundless Learning, Inc and is a Member of Strategic Advisory Board at Harvest Power, Inc. He has previously worked for Northern Power Systems, Inc., Merrill Lynch as a Financial Analyst, International Fuel Cells (now UTC Fuel Cells), Commonwealth Capital Ventures, Contemporary Investment Management as a Senior Associate, and worked as Analyst of Commonwealth Capital Ventures, Commonwealth Capital Ventures III, L.P. and Commonwealth Capital Ventures IV, L.P. He also co-founded and served as an Associate for the public company Student Advantage. He holds a Bachelor of Arts in Government and Economics from Dartmouth College and a Master of Business Administration from the Amos Tuck School of Business Administration at Dartmouth.
Gregg Dixon is the Senior Vice President of Marketing and Sales of EnerNOC and an officer of the company.
ENOC Securities Corporation
List of Subsidiaries
|Unknown||Celerity Energy Partners San Diego LLC||Energy||United States||Unknown|||
|2009||Cogent Energy, Inc.||Green Building||United States||Unknown|||
|Unknown||ENOC Securities Corporation||Securities||United States||Unknown|||
|Unknown||EnerNOC UK Limited||Energy||United Kingdom||Unknown|||
|Unknown||Mdenergy, LLC||Energy||United States||Unknown|||
|Unknown||Pinpoint Power DR LLC||Energy||United States||Unknown|||
|Unknown||South River Consulting, LLC||Energy||United States||Unknown|||
|Unknown||Global Energy Partners, Inc.||Energy||United States||Unknown|||
|2011||M2M Communications Corporation||Energy||United States||Unknown|||
|Unknown||EnerNOC Australia Pty Ltd||Energy||Australia||Unknown|||
|Unknown||DMT Energy Pty Ltd||Energy||Australia||Unknown|||
|Unknown||Energy Response Holdings Pty Ltd||Energy||Australia||Unknown|||
|Unknown||EnerNOC Pty Ltd||Energy||Australia||Unknown|||
|Unknown||EnerNOC New Zealand Limited||Energy||New Zealand||Unknown|||
|Unknown||High Street Corporation Pty Ltd||Energy||Australia||Unknown|||
EnerNOC received a $10 million contract in 2010 to track how much energy state-owned facilities use in Massachusetts. The contract is funded with stimulus money through the United States Department of Energy. Massachusetts hopes to use the study to shave 5 to 15 percent of its annual energy expenses, as well as help shift to alternative energy sources. EnerNOC will be receiving metering information from 470 state-owned buildings, including schools, prisons, and municipal buildings. The information received will include how much energy is being used and where the energy is coming from (for example natural gas, oil, or renewable energy sources). In the summer of 2010, EnerNOC contracted with the Tennessee Valley Authority, the nation's largest public power company, for a 10-year, 560 megawatt demand response contract that represented an addition of 400 MW to TVA’s existing deployment of approximately 160 MW with EnerNOC.
Awards and recognition
EnerNOC, which stands for Energy Network Operations Center, has won numerous awards for its technology, customer service and industry. Some of these awards include two 2009 Smart Grid Product of the Year Awards from the Technology Marketing Corporation and Intelligent Communications Partners. EnerNOC’s Boston Business Journal also honored EnerNOC’s EfficiencySMART Insight with a 2011 Best Green Practices Award in the Invention category.
- "EnerNoc anual report for FY (2011)" (PDF). Retrieved 26 June 2012.
- Kuo, Iris (29 October 2010). "Use less power at peak, and pay less? Everyone's jumping in". Retrieved 1 November 2010.
- "Market Watch (EnerNOC IPO poers up 20%)". Retrieved 26 June 2012.
- "GreenBiz (EnerNOC)". Retrieved 26 June 2012.
- Tweed, Katharine. "The Top Five Players in Demand Response". Greentech Media. Retrieved 27 August 2010.
- Associated Press (24 March 2010). "EnerNOC buys SmallFoot to expand customer base". BusinessWeek. Retrieved 27 August 2010.
- EnerNOC Reports First Quarter 2011 Financial Results
- Argersinger, Matthew (3 August 2010). "Today's Buy Opportunity: EnerNOC". The Motley Fool. Retrieved 27 August 2010.
- "Bloomberg Businessweek investment profile". Retrieved 26 June 2012.
- "SEC records, list of subsidiaries". Retrieved 26 June 2012.
- Ricketts, Camille (12 April 2010). "Massachusetts picks EnerNOC to crack down on energy use". VentureBeat. Retrieved 27 August 2010.
- "EnerNOC, TVA expand energy program". The Boston Globe. 15 June 2010.
- "The Globe's Top 100 Places to Work". Boston Globe. 7 November 2009. Retrieved 27 August 2010.
- "The Globe's Top 100 Places to Work". Boston Globe. 7 November 2010. Retrieved 12 November 2010.
- "Best Places to Work". Boston Business Journal. Retrieved 27 August 2010.