SAN ANTONIO, Texas, Jan. 23, 2012 (GLOBE NEWSWIRE) -- Comverge, Inc. (Nasdaq:COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial & Industrial customers, today announced it has become the first demand response company to enroll one million customers in demand response programs. The significant industry milestone highlights Comverge's strong operational execution in 2011, with the company partnering with major utilities to enroll 300,000 residential customers in demand response programs, or approximately 800 new customers a day. In 2011, Comverge's reliable, easy-to-use and cost-effective demand response programs helped maintain grid reliability by delivering a total of 16 gigawatt hours of reduced electricity demand during the summer cooling season across all of its enrollments in North America.
"This milestone is an extraordinary reflection on Comverge's ability to deliver on the promise of demand response as a critical part of our nation's energy infrastructure. Talking about delivering negawatts is one thing, but actually delivering them is another," said R. Blake Young, president and chief executive officer, Comverge. "Comverge understands what is required to deliver large and complex demand response programs for residential and commercial customers, which positions us well to capitalize on the rapidly growing demand response market. It is a testament to our continued success that we are the first company to enroll one million customers in demand response programs."
The automated demand response industry in North America is expected to grow from a $1.3 billion annual market in 2011 to $6.1 billion in 2016, according to Pike Research. In 2010, energy efficiency and demand response programs in the U.S. saved enough energy to power almost 10 million homes and in the summer of 2011 alone, Comverge reduced 16 gigawatt hours of electricity demand to help maintain grid reliability during record breaking heat waves. In total, Comverge successfully executed 200 demand response control events in 2011, which involved 3.3 million customer curtailments.
"Large-scale demand response programs can be extremely complex, but when they are successfully executed, they are one of the most effective smart grid technologies," said Marianne Hedin, Senior Analyst, Pike Research. "2011 was an important year for the demand response industry and as electricity demand continues to increase, it will play a significant role in helping utilities balance supply and demand as well as integrate new technologies and alternative energy sources. It is impressive to see that Comverge has now enrolled one million residential customers in demand response programs and by engaging consumers in these programs, Comverge is helping utilities to encourage consumers to take an active role in controlling their energy usage."
In addition to these developments in North America, the demand response industry also expanded internationally in 2011. This expansion included Comverge entering into an agreement with Eskom, Africa's largest electricity provider, to co-manage Africa's first open market for demand response resources. Under the terms of the agreement, Comverge will deploy the IntelliSOURCE 2.0 platform for Eskom to register, dispatch and operate a new competitive demand response market in South Africa for an initial 500 megawatts of demand response resources. In addition, the agreement calls for Comverge to provide at least 100 megawatts directly as one of the new curtailment service providers serving this newly established market.
About Comverge
With more than 500 utility and 2,100 commercial customers, as well as five million residential deployments, Comverge brings unparalleled industry knowledge and experience to offer the most reliable, easy-to-use, and cost-effective intelligent energy management programs. We deliver the insight and control that enables energy providers and consumers to optimize their power usage through the industry's only proven, comprehensive set of technology, services and information management solutions. For more information, visit www.comverge.com.
Caution Regarding Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release are not and do not constitute historical facts, do not constitute guarantees of future performance and are based on numerous assumptions that, while believed to be reasonable, may not prove to be accurate. These forward looking statements include expected market and industry growth, successful implementation of the program, anticipated results, expectations of future performance under the program and certain assumptions upon which such forward-looking statements are based. The forward-looking statements in this release involve a number of factors that could cause actual results to differ materially, including risks associated with Comverge's business involving our products, the development and distribution of our products and related services, regulatory changes, economic and competitive factors, our key strategic relationships, and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the information or announcements described herein.