OAKVILLE, Ontario, Jan. 13, 2010 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of clean and intelligent energy solutions, today announced that it has signed a 25 megawatt contract expansion with the Ontario Power Authority (OPA). This expansion is the result of early success that EnerNOC has achieved in the OPA's DR 3 demand response program (DR3 Program).
EnerNOC's initial agreement with the OPA was announced in April 2008 and, since then, the company has enrolled numerous leading Ontario businesses in the DR3 Program, including VersaCold, Italpasta, Bitumar, and others.
"EnerNOC has performed well, delivering over 100 percent of contracted capacity on average in our DR3 Program events in the past year, and we look forward to the continued success of this partnership," said Cliff Poyton, Manager Business Markets Delivery, Ontario Power Authority.
When dispatched by the OPA, EnerNOC activates its network of commercial, institutional, and industrial energy customers to reduce electricity usage. EnerNOC monitors each site's performance in real time from its Network Operations Center (NOC) to ensure that energy reduction targets are achieved. In return, customers receive regular payments from EnerNOC, as well as free basic access to PowerTrak(R), EnerNOC's energy management application that helps customers identify additional energy savings opportunities.
"Businesses in Ontario recognize that demand response is a great opportunity to engage in the energy markets, create value for their organizations, and do something positive for their communities. One of the primary challenges of growing an energy management program in Ontario is demonstrating to customers that it can be easy and straightforward. EnerNOC's fully transparent approach and track record of exceptional customer service have helped empower local businesses to participate in the DR3 program," said Kelly Lorincz, Country Manager - Canada, at EnerNOC.
"At Italpasta, we're committed to being a good corporate citizen and have done many things to ensure we're using energy as efficiently as possible. Demand response piqued my interest, but admittedly, I was originally skeptical of the program. It sounded a little too good to be true," said Riccardo Bordignon, Plant Manager and Vice President of Operations at Italpasta, the largest pasta manufacturer in Canada. "EnerNOC really made it easy though, and they allayed any concerns we had about how participation would impact operations. The company sat with us and took the time to really understand our business and outline a plan that would help us meet our conservation targets without negatively affecting our packaging processes."
"EnerNOC came highly recommended," said Ted Royals of VersaCold, which operates the largest cold storage network in the world. "We viewed demand response as another strategy to help us manage and reduce our energy use -- and to get paid for our efforts. EnerNOC's offering was clearly a win-win." VersaCold has facilities enrolled with EnerNOC throughout North America, including nine sites in Ontario. In total, the company has historically received approximately $160,000 in annual payments from EnerNOC.
EnerNOC also provides other energy management solutions to Ontario businesses. Its Monitoring-Based Commissioning (MBCx) energy efficiency application helps businesses uncover substantial energy savings through continuous analysis of data captured from building management systems and metering. EnerNOC's CarbonTrak application measures, manages, and reports customers' greenhouse gas emissions and prioritizes greenhouse gas reduction efforts.
"We're excited to continue building upon our early success in Ontario. We applaud the OPA for continuing to invest in environmentally-responsible and economical resources like demand response, and we look forward to not only expanding our demand response network, but also increasing the number of Ontario businesses and institutions that utilize EnerNOC's full suite of energy management solutions," said Tim Healy, chairman and CEO of EnerNOC.
For information about EnerNOC's services, please visit www.enernoc.com/solutions.
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 expand its demand response network in Canada, 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.