EnerNOC acquires EnergyResponse
Electricity demand response company Energy Response has been acquired by US-based Enernoc for $28 million.
Energy Response was founded in Melbourne by Ross Fraser in 2005, offering a system of reducing electricity use by businesses during peak times or during grid emergency. In 2009, venture capital company, Starfish Ventures, invested in the company.
Energy Response is an open access aggregator of Demand Side Response (DSR) for participants in the National Electricity Market, the Western Australian electricity market, the New Zealand electricity marketand all electricity consumers. It contracts load reduction from a range of large electricity consumers and aggregates those reductions into DSR products for: Electricity Retailers, Electricity Networks (Distribution - Transmission) and Electricity Market Operators.
EnerNOC is a NASDAQ-listed company that provides demand response applications and services world-wide.