EnerNOC, Inc. 2nd Quarter 2003 Update
For Immediate Release
EnerNOC Closes Series A & Expands Operations
BOSTON, Massachusetts (July 2003) — As we embark on the third quarter of the year, we want to take a moment to update you about EnerNOC's exciting activities in the second quarter of 2003.
EnerNOC Completes Series A and Moves Company Headquarters to Boston
In Q2, we closed our Series A financing, which will allow us to effectively expand the company for the next couple of years. Our new financing partners are: Draper Fisher Jurvetson, Draper Fisher Jurvetson New England, and Braemar Power & Communications Partners. In addition to bringing in several million dollars of new capital with the Series A, we added three new directors and two new observers to EnerNOC's Board. Scott Johnson, Managing Director of Draper Fisher Jurvetson New England; Bill Lese, General Partner of Braemar Power & Communications Partners; and Phil Giudice, Former Vice President, Managing Partner, and Head of the Global Energy & Utilities Practice of Mercer Management Consulting, Inc. join David Brewster and Tim Healy to round out EnerNOC's Board of Directors. Raj Atluru, Managing Director of Draper Fisher Jurvetson, and Neil Suslak, General Partner of Braemar Power & Communications Partners, also joined the Board as Observers.
In late May, we moved EnerNOC's headquarters from Hanover, NH, to downtown Boston, MA. Our new address is: One Faneuil Hall Marketplace, 3rd Floor, Boston, MA 02109 and our new general phone number is 617-305-7455. Please feel free to stop by and see us at our new space. EnerNOC now has offices in Boston, MA, Hanover, NH, Manchester, NH, and Brooklyn, NY.
EnerNOC Adds More Talented People
We added some outstanding people to the EnerNOC team during the second quarter of 2003. Craig Rutfield has joined us as our Vice President of Engineering. Craig is an experienced senior technical manager, with 20 years of experience in software product development for Fortune 100 companies (with staffs of 75+) as well as start-ups (with staffs as small as six). Craig was formerly the VP of Engineering at Verilytics, CIO and Vice President of Engineering at R3Media, Vice President of Engineering at MotherNature.com, and CTO and Vice President of Engineering at Delphi Information Systems, Inc. Craig has an MBA from Worcester Polytechnic Institute, as well as an MS in Electrical Engineering and a BS in Computer and Systems Engineering from Rensselaer Polytechnic Institute. EnerNOC also added Mark Potter to its business development staff. Mark is a Tuck MBA, with experience at a large commercial real estate firm, as well as over five years of experience at Standard & Poor's. The EnerNOC team is now eight strong, including our engineering contract team in Manchester, NH.
Several EnerNOC System Installations Completed for Customers in Q2
Our customer service and product development work produced some outstanding results during the quarter: We successfully installed our EnerNOC Site Server at four customer locations, and are now able to remotely start, stop, test, monitor, track, and verify the operation of our customers' onsite generators at these locations. Our EnerNOC System is currently communicating with four different models of transfer switches, four different models of generators, and two distinct facility meter configurations - differentiating EnerNOC from those companies whose devices only communicate with a limited number of manufacturers or models. We continue to pave the way for bringing aggregation to New England's demand response market - we followed up our status as the first registered demand response provider (DRP) in New England by becoming the first DRP to combine two different customers' loads into one aggregate asset for ISO-NE. We signed several new five-year exclusive contracts with customers, including a baseball park in Connecticut with a natural gas generator. Our success has led to some unsolicited press, and our burgeoning reputation has led to over a half dozen unsolicited calls from interested customers and business partners.
We hope that you recently had a great Fourth of July holiday and that you experience a prosperous and pleasant second half of 2003. Thank you for your continued interest and support.
Building tomorrow's energy market,
- Timothy Healy, CEO and David Brewster, President & COO
- EnerNOC, Inc.
- e-mail: THealy@EnerNOC.com
- voice: (617) 305-7455
About EnerNOC, Inc.
EnerNOC, Inc. is a leading developer and provider of clean and intelligent energy solutions to utilities and electric power grid operators, as well as commercial, institutional, and industrial customers. EnerNOC’s technology-enabled demand response and energy management solutions help optimize the balance of electric supply and demand. The Company uses its Network Operations Center, or NOC, to remotely manage and reduce electricity consumption across a network of commercial, institutional, and industrial customer sites and make demand response capacity and energy available to utilities and grid operators on demand. For more information, visit www.enernoc.com.
About Braemar Energy Ventures
Braemar Energy Ventures is a venture capital fund making early- to mid-stage investments in the energy technology sector. The firm's principals have invested in more than 60 companies in the sector and have more than 100 years of combined technical, operational and financial experience in energy and energy-related industries. Braemar partners with exceptional companies and management teams, in both alternative and traditional energy markets, that can contribute to a more profitable and efficient energy landscape through innovation and marketplace expertise. Additional information is available at BraemarEnergy.com or on Twitter at twitter.com/braemarenergy or @BraemarEnergy.
For more information
- Alison McIntyre
- Prosek Partners
- (212) 279-3115 x269