State Of Massachusetts Deploys EnerNOC (ENOC) Energy Management Solutions

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10:56:06 pm on April 11, 2010

On Friday, it was announced that the state of Massachusetts chose the EnerNOC (ENOC) Enterprise Energy Management System to help reduce energy costs at nearly 500 state owned facilities.  The initial 3 yr project aims to reduce energy costs by 5 – 15% and save up to $10 million a year when fully deployed.

EnerNOC will deploy its SiteSMART, SupplySMART and CarbonSMART suite of energy applications across office buildings, universities, prisons and hospitals providing real time energy information to improve efficiency.  The CarbonSMART system will be the largest software as service carbon management system in the US.  This relationship may be extended for another 3 years and may cover 3 times the square footage of the original deal.  After receiving more than 25 proposals for the work, it was determined that EnerNOC’s system provided the best value. 

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EnerNOC CEO Tim Healy commented on the deal: “Nationwide, as state and local budgets are under intense pressure, legislators are increasingly recognizing that energy management is not only an environmental imperative, but also a financial necessity with the potential to deliver significant relief to taxpayers,” said Tim Healy, Chairman and CEO of EnerNOC. “Massachusetts spends over $200 million on energy every year. Leveraging EnerNOC’s application-driven approach to identify, implement, and track savings on electricity, natural gas, fuel oil, steam, water, and renewable energy resources is a cost-effective way to deliver substantial energy savings year after year, making an immediate impact on the Massachusetts economy.”

Shares of ENOC didn’t benefit from the news, closing down nearly 3% Friday.

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