GreenBeat: Locust, CPower tie for grand prize in Innovation Competition
The winners of the inaugural GreenBeat Innovation Competition — a survey of the most promising technologies and companies working toward a cleaner, more efficient grid — were just announced following four-minute presentations from the top eleven finalists (”eleven is the new ten”). Locust Storage, while launched its innovative storage system today, and demand response provider CPower declared victory, winning a slot at the DEMO Spring conference in 2010.
The winner were selected by a panel of… Continue Reading
Demand response firm Comverge heartened by slim Q2 loss
Smart meter company Comverge, one of the leading demand response firms competing with EnerNOC and CPower, reported a narrow $9.1 million loss for the second quarter ended June 30. But the company is optimistic about the results, citing a 39 percent increase in revenue since last year to $13.3 million.
The company, based in East Hanover, N.J., lost $9.6 million in the second quarter in 2008, but that was before the downturn. The fact that it… Continue Reading
Intel Capital grows commitment to cleantech with five new investments
Intel Capital is no stranger to the clean technology space, but today, it took its participation to the next level with five investments in green companies, amounting to $10 million in all. In the mix, it brought one new portfolio company, demand response firm CPower, into its fold.
While Intel declined to say how much it was giving each startup, it said it was providing follow-on investments to Irish company Powervation, and U.S.-based Convey Computer, Grid… Continue Reading
Demand response co. EnerNoc lands $100M contract
EnerNoc (ENOC.O), one of the growing number of companies focused on demand response — the management and redistribution of power based on real-time changes in demand — has landed a contract with PJM Interconnection, an electricity transmission company in the mid-Atlantic region, to manage 1,000 megawatts worth upwards of $100 million.
The year-long contact, 2012 to 2013, will give EnerNoc an unprecedented boost, providing roughly the same sum that came from all of its contracts combined… Continue Reading
CPower snags $10.7M to reduce corporate energy use
Energy management firm CPower, which helps businesses optimize their operations while reducing their energy use (and glean financial rewards for doing so), has raised $10.68 million in a second round of capital from Mayfield Fund (in its first energy investment), among others. The New York-based company will use the fresh financing to develop its technology offerings and expand to other regions.
CPower specializes in turn-key energy solutions, meaning that businesses can adopt its systems and practices… Continue Reading