BOSTON, Oct. 28, 2009 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of clean and intelligent energy solutions, today announced that it has signed a multi-year contract with the State of Connecticut to continue to provide its demand response (DR) services through December 31, 2014. EnerNOC has managed Connecticut's participation in ISO New England's Real-Time Capacity Demand Response Program since 2006 and has helped the state earn more than $4.3 million in demand response payments. Connecticut chose to extend its contract with EnerNOC based on the company's ability to streamline the participation process and maximize revenue for the state through exceptional demand response technology and management systems.
Connecticut's participation in demand response is in line with the State's goal of embracing innovative green technologies. According to Connecticut Governor M. Jodi Rell, "Connecticut has led the way in green technology and programs that foster energy conservation and renewable fuels. We can take pride in our progress and our vision. Collectively, we can take major strides in reducing our dependence on fossil fuel and leaving a cleaner, healthier environment."
By participating in demand response, the State receives quarterly payments from EnerNOC in exchange for agreeing to reduce non-essential electricity usage during periods of peak demand, which helps reduce the risk of blackouts and stabilize energy costs throughout New England. Since 2006, EnerNOC has enrolled over 50 Connecticut state government sites, including correctional facilities, hospitals, schools, and administrative buildings, making Connecticut the largest contributor of demand response of any state in New England. In addition to payments, the State receives free basic access to PowerTrak(R), EnerNOC's energy management software platform, which enables state buildings to identify additional energy efficiency opportunities.
"Connecticut was one of the early adopters of demand response, and we're proud to extend this successful and long-standing partnership. We look forward to continuing to drive value and putting dollars back in the Connecticut budget through demand response and energy efficiency," said Tim Healy, CEO of EnerNOC.
This agreement with the State of Connecticut is the latest in a series of agreements that EnerNOC has signed with local and state governments, including the states of New Mexico, Rhode Island, and Vermont, as well as the cities of Boston, MA, and Suffolk County, NY, among others.
For information about joining EnerNOC's demand response network, please visit www.enernoc.com/get-started or email info@enernoc.com.
About EnerNOC
EnerNOC, Inc. is a leading provider of clean and intelligent energy solutions, which include demand response services, energy efficiency, or monitoring-based commissioning services, energy procurement services, and emissions tracking and trading services. These solutions help optimize the balance of electric supply and demand, provide cost-efficient alternatives to traditional power generation, transmission, and distribution resources, and drive significant cost-savings for its customers. The Company uses its Network Operations Center, or NOC, and PowerTrak(r) enterprise software platform to remotely manage and reduce electricity consumption across a growing network of commercial, institutional, and industrial customer sites, making demand response capacity available to grid operators and utilities on demand while helping end-users of electricity achieve energy savings, environmental benefits, and improved financial results. For more information visit www.enernoc.com.
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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 and the ability of EnerNOC to drive value for its customers, 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 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, 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.
CONTACT: EnerNOC, Inc.
Media Relations:
Sarah McAuley
(617) 532.8195
news@enernoc.com
Investor Relations:
Will Lyons
(617) 532.8104
ir@enernoc.com
