Monday, 9 March 2009

EnerNOC posts $106.1m in revenues in 2008

EnerNOC, Inc. ended 2008 with $106.1 million in revenues. This represents a 74 percent year-over-year growth.

The company’s network delivered over 100 percent performance on average based on nominated versus delivered capacity in more than 100 demand response events, according to its CEO, Chairman, and Co-Founder, Tim Healy.

“Our attractive applications in combination with our stable grid operator and utility customer base and our own financial strength and visibility give us confidence in the following 2009 corporate objectives,” said Healy, who added that the company expects its revenues to grow approximately 55 percent over 2008 to a range of $155 to $170 million.

Through the first seven weeks of 2009, the company has signed two new utility contracts in Arizona and Colorado worth over $35 million in combined potential revenue. It has added over 500 new megawatts under management to its demand response network, and has also developed an MBCx pipeline that is stronger than its internal projections for this point in time.

EnerNOC recently entered into an eight-year contract with Public Service Company of Colorado, an Xcel Energy company, to provide up to 44 megawatts of demand response capacity. The company highlighted that states like Colorado and Nevada are at the forefront of developing market dynamics that allow utilities to benefit financially from increased investments in demand response and energy efficiency.

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