ConsumerPowerline Adds On

ConsumerPowerline Inc., a New York-based provider of energy demand response solutions, has acquired DemandDirect LLC, a provider of demand resources to electricity end-users in New England. No financial terms were disclosed. ConsumerPowerline raised a $17 million Series A round last fall from Expansion Capital Partners, Bessemer Venture Partners, Schneider Electric Ventures, the New York City Investment Fund and Vantania Holdings.

 

PRESS RELEASE

ConsumerPowerline, Inc. (www.consumerpowerline.com), a leading strategic energy asset management firm, today announced it has acquired DemandDirect LLC, a provider of demand response and other demand resources (ODR) to commercial, industrial, and institutional electricity end-users in the New England region. Under the terms of the agreement, ConsumerPowerline has acquired all of DemandDirect's outstanding shares, assets and technology.

The acquisition will enable ConsumerPowerline to strengthen its existing suite of demand response and ODR products and services, leveraging DemandDirect's sales and distribution partnerships, as well as existing relationships with ISO-New England, the independent grid operator for New England, and regional utility companies.

Demand response programs occur when electricity users are called upon to reduce their power usage during periods of peak demand, when blackouts and brownouts are imminent. This action reduces stress on the electrical grid, decreases the need for electricity providers to generate additional power to meet demand, and enables participants to realize tens to hundreds of thousands of dollars in payments through their participation. Other demand resources (ODR), introduced by ISO-New England in 2007, provide electricity users payments based on a project's demand reduction value, including energy efficiency, load management and distributed generation projects. Through ConsumerPowerline and DemandDirect's comprehensive demand response and ODR solutions, New England clients will have access to turnkey solutions enabling them to quickly and easily participate in these programs and realize the maximum financial benefit.

“We have worked in tight partnership with DemandDirect for the past several years, and highly value the team's dedication to client success, strong channel partner relationships and leadership in delivering the newest programs and offerings to the New England market,” said Gary Fromer, chief executive officer, ConsumerPowerline. “The combination of DemandDirect and ConsumerPowerline is a natural progression for our businesses and will enable us to bring more comprehensive solutions to our clients and partners.”

DemandDirect is focused on identifying and assessing opportunities for clients to reduce electricity consumption. The company supplies metering and communication systems required to monitor electrical usage and realize reductions when grid operators initiate a power curtailment, enrolling electricity users in both State and ISO-sponsored demand response and ODR programs. The company also provides distributed generation solutions to improve reliability, reduce electricity use, increase cost savings and promote the use of renewable energy.

“Joining ConsumerPowerline will provide DemandDirect's New England clients access to more extensive energy asset management solutions and services that are national in reach, enabling us to deliver greater value to our clients and business partners,” said Jeff Lines, co-founder and managing member, DemandDirect LLC, who joins ConsumerPowerline as vice president of Strategic Alliances. “We are thrilled to become a part of ConsumerPowerline, which has proven itself as a leader in energy management thanks to its strong client base, programs throughout North America and established partner relationships.”

The ConsumerPowerline acquisition of DemandDirect was closed on July 15. DemandDirect employees have been retained in the company's Oxford, CT office. Financial terms of the acquisition were not disclosed.

About ConsumerPowerline

ConsumerPowerline (www.consumerpowerline.com) is a full-service strategic energy asset management firm with a proven track record of helping its clients, energy users, uncover hidden market revenues and cost saving opportunities available with their facility assets. ConsumerPowerline is one of the largest non-utility providers of demand response solutions in North America.