BOSTON, June 17, 2009 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of clean and intelligent energy solutions, today announced that it has acquired privately-held eQuilibrium Solutions, Inc (eQ), a Boston-based developer of enterprise carbon management and energy efficiency software applications. eQ's leading software-as-a-service (SaaS) solution enables commercial, institutional, and industrial enterprises to effectively monitor, mitigate, and monetize their carbon footprint through an efficient, comprehensive, and auditable process. eQ's applications will be integrated into EnerNOC's existing PowerTrak software platform, expanding EnerNOC's suite of energy management software and service offerings.
"Our customers continue to look internally for cost-cutting strategies and energy management is an obvious choice," said Tim Healy, EnerNOC's Chairman and CEO. "eQ's applications fit nicely into our strategic roadmap as they enhance our customers' ability to identify and prioritize energy efficiency opportunities while concurrently satisfying existing as well as pending greenhouse gas reporting requirements."
The integration of eQ's enterprise software applications with PowerTrak's real-time interval meter data and billing rate engines enables customers to more effectively manage their energy efficiency and sustainability initiatives. Customers can create their own energy efficiency projects in the software, and share the energy, environmental, and financial results in a standardized format across their organizations. The effect is a powerful enhancement to EnerNOC's existing CarbonTrak application designed to help energy and sustainability leaders plan their own response to reach energy efficiency and emissions goals. Recent analysis from the U.S. Environmental Protection Agency (EPA) suggests that as many as 30,000 facilities in the U.S. would have to calculate their greenhouse gas emissions in response to the EPA's proposed rule for greenhouse gas reporting.
"EnerNOC's focus on helping customers efficiently identify and prioritize energy savings and emission reductions is essential," said Terry Kellogg, former Director of Environmental Stewardship at Timberland and current Chief Executive Officer at 1% for the Planet. "EnerNOC's integrated approach is particularly important as the market evolves from the challenge of simply compiling greenhouse gas inventory reports to planning and optimizing the corporate response."
eQ's current customers, including Sears Canada and News Corporation, will maintain an ongoing relationship with EnerNOC. EnerNOC does not expect this transaction to materially impact its 2009 financial results.
About EnerNOC
EnerNOC, Inc. is a leading provider of clean and intelligent energy solutions to commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. EnerNOC's demand response, energy efficiency, and energy advisory applications help optimize the balance of electric supply and demand, provide cost-efficient alternatives to traditional generation resources, and drive significant cost-savings for enterprises. The Company uses its Network Operations Center, or NOC, 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 driving energy, environmental, and financial results for end-use customers. For more information visit www.enernoc.com.
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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 carbon management solutions and the ability of EnerNOC's customers to derive 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 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.