NV Energy just announced that it has extended its partnership with Comverge. Under the agreement, Comverge will keep managing NV Energy’s 143 MW smart grid ready demand response program, which is currently the biggest in the country. Comverge will also add an additional 12 MW of capacity to the program. Comverge will also provide NV Energy with SuperStat(R) programmable communicating thermostats and will continue to explore additional demand response technologies to ensure that NV Energy”s … Read the rest
Tag Archives: COMV
Exelon (EXC) Subsidiary PECO Selects Comverge (COMV) Demand Response Solution
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Exelon’s (EXC) PECO subsidiary in Pennsylvania has selected Comverge’s (COMV) Apollo Demand Response Management System to meet energy efficiency targets required by Pennsylvania Act 129. For the next 3 years Comverge will provide full turnkey services including call center services and includes the installation of nearly 150K energy management devices. This will be largest demand response deployment in Pennsylvania. PECO was one of the six recipients of … Read the rest
Ardour Capital Upgrades Yingli (YGE) & Comverge (COMV)
Ardour Capital is out this morning upgrading both Yingli Green Energy (YGE) and Comverge (COMV) following recent earnings reports. They upgraded Yingli (YGE) from Reduce to Buy. Hat tip to Street Insider for the analyst comments:
“We are increasing our 2010 estimates to reflect demand-driven capacity expansion and solid gross margin outlook. The Company announced a 300MW capacity expansion to address continuing order demand from channel partners. Accordingly, YGE expects to ship 950-1,000MW in … Read the rest
Comverge (COMV) Reports Record Revenue, Still In The Red
Comverge (COMV) reported a non GAAP EPS of -.02/share this morning which is slightly more than the analyst estimate of a .01/share loss. Revenues matched analyst estimates at $40.8 million which is a record for the company. While revenues increased 18% over the year ago quarter, the company did report a .28/share profit a year ago and the company said that historically, its 4th quarter is the best due to recognition of their Virtual Peaking … Read the rest
Comverge (COMV) Announces Expanded Agreement With Pepco Holdings
Comverge just announced that it has expanded its existing contract with Pepco Holdings, Inc. Under the new contract, Comverge will provide full support to more Pepco Holdings territories. Comverge will provide marketing, installation and call center services for its Apollo Demand Response Management System and will install more than 40,000 home energy management devices. Comverge will also provide its Dual Mode Digital Control Units and SuperStat PRO™ programmable thermostats.
In a press release, Comverge Interim … Read the rest
Comverge (COMV) Announces New 10-Year Agreement With Maryland State Agencies
Comverge just announced that it has signed a new 10-year agreement with the University of Maryland to provide demand response services at state agencies and University of Maryland campuses. This agreement is an extension of an existing agreement with the University of Maryland. Over the past two years, Comverge has already achieved load reductions of over 20 million kilowatts. Under the new agreement, Comverge will continue to help UMD save energy by continuing to offer … Read the rest
TheStreet.com: "Smart Grid Not A Smart Investment"
I was just perusing the blogosphere for the latest news in the green energy space to get other view points, keep up to date with what’s going on and possibly pin point some investment ideas I haven’t thought of. I don’t think I’ll be using the TheStreet.com as a source of good info. I came across a post at TheStreet.com calling smart grid investments “not so smart”. I had to read it twice to make … Read the rest
Comverge (COMV) Report Beats, But Posts Another Large Loss
Comverge (COMV) has reported earnings results this morning and they’re so so in my opinion. The company did beat on both EPS and revenues by reporting a .44/share loss (est .43/loss) on revenues of $33.2 million (est $32.8 million). That’s another increase in revenues over the year ago quarter, but the company isn’t making much headway on EPS.
The CEO didn’t comment on the revenue growth not translating into better EPS numbers, but he did … Read the rest
Comverge (COMV) Chosen For Puget Sound Energy’s Demand Response Program
Comverge just announced that it has been chosen to provide load control devices and software for Puget Sound Energy’s smart-grid enabled demand response pilot program. The program is located in Bainbridge, Washington and will last 2 years. Residential consumers participating in the program will have ZigBee-enabled programmable 2-way communicating SuperStat PRO(TM) thermostats, Comverge ZigBee-enabled Digital Control Units (DCU) and Internet-enabled Comverge ZigBee Gateways installed in their homes, and will be able to voluntarily manage their … Read the rest
GDF Suez Teams Up With Comverge (COMV) To Offer Customers Demand Response
It was announced this morning that the retail biz of GDF SUEZ has teamed up with Comverge (COMV) in order to offer its commercial and industrial customers demand response services to help them decrease energy usage and cost. GDF SUEZ is currently the 2nd largest provider of non residential energy, so this is a significant win for Comverge. At first, the ERCOT, NEPOOL, NYISO and PJM territories (whatever that means) will be served with additional … Read the rest