EnerNOC

EnerNOC is among the largest providers of energy intelligence software and services for commercial, institutional, and industrial customers, as well as electric power grid operators and utilities. It chiefly provides energy intelligence software and services.

History

Founding

EnerNOC was first established by Timothy G. Healy and David Brewster, as EnerNOC, LLC in New Hampshire from December 2001 until June 2003. On June 5, 2003 EnerNOC was incorporated in Delaware. Today their corporate headquarters is at One Marina Park Drive, Suite 400, Boston, Massachusetts 02210.

Initial Public Offering

EnerNOC went public in 2007 on the NASDAQ stock exchange at US$26 per share followed by a rally to US$50 per share in spite of reporting two consecutive annual losses. EnerNOC provided the strongest IPO by percentage increase in the green energy sector for the year. The offering included 3.75 million shares. US$98 million was raised with underwriters Credit Suisse and Morgan Stanley.

Expansion

EnerNOC owns numerous subsidiaries around the world. In 2009, EnerNOC bought Cogent Energy and acquired eQuilibrium Solutions, which provides carbon accounting solutions. In March, 2010, EnerNOC bought SmallFoot, LLC, a company that makes wireless systems to manage demand for smaller facilities. Tim Healy, CEO of EnerNOC, said of the acquisition, "Going deeper into this underserved market represents a large growth opportunity for our company. SmallFoot gives us additional technology to unlock all forms of demand response and deploy our full suite of applications in this exciting market."