I think working directly with Sun Power in the manner that we are is something that we can be successful with. Many organizations don't yet know that they need energy intelligent software let alone have identified economic buyers or budget for it. When typing in this field, a list of search results will appear and be automatically updated as you type. The three former employees called to share wereHudson Gilmer,Alex Wright-Gladstein, andChristian Weeks. During the past five years, Adam formerly served on the boards of directors of Control4 Corporation, Conviva, Inc., GridIron Systems Inc., Numerate, Inc., Sentient Energy, Inc., SiBEAM, Inc., and Silver Spring Networks, Inc., each a privately held company, as well as EnerNOC, Inc., Rohati Systems, Inc., which was acquired by Cisco, and Naverus, Inc. Scott is a co-founder and managing partner at [New Atlantic Ventures](http://www.navfund.com/). 1230 Avenue of the Americas Manhattan, New York, NY 10020. They were all great ideas but apply the 80/20 rule. That diversification remains as important as ever as the domestic regulatory environment continues to be challenging. EnerNOC, Inc. (NASDAQ:ENOC) Q2 2015 Earnings Conference Call August 6, 2015 9:00 AM ET. Matthew Healy was born in London, England in April 1989. Contact:Eugene HuntTrevi Communications, Inc.978.750.0333 x.101gene@trevicomm.com. Tim Healy is aStrategic Advisor for Dynamo Energy Hub. In essence, the court felt that the EPA did not adequately justify raising the limit from 15 hours to 100 hours per year. Amperon Holdings, Inc. is a technology company based out of Houston that builds AI-powered electricity analytics for energy market participants. I don't think it's all that complex. Im looking forward to helping Packetized Energy bring those insights directly to regulators and decision-makers.. The premium may be surprising, but the fact that EnerNOC is being acquired is not. His net worth has been growing significantly in 2020-2021. Prior to joining Foundation Capital, Adam was president of Excite@Home's 1,400-person Subscriber Networks division, as well as co-founder, president, and CEO of Catapult Entertainment. That's the equivalent of 15 peak power plants, which are typically the dirtiest and most expensive to. Some interviewees were asked to do a project and then present to the interviewers, giving the hiring team an opportunity to assess team interactions and culture fit. Thank you. We more than doubled our enterprise revenue year-over-year to $18 million principally due to the acquisition of World Energy Solutions. Finally, we are excited about the President's Clean Power Plan which was released on Monday. However as you can see on Slide 6, we achieved a negative 4% net churn rate, driven by significant negative net churn for our enterprise EIS platform. We're finding that as a demand response company we have a unique selling proposition because in many respects you can think of our customer acquisition costs as being lessened by the fact that we can go in there and offer the customer an economic benefit of participating in demand response and engaging in an investment in our Energy Intelligence Software platform at the same time. Today, EnerNOC is one of the world's leading energy intelligence software providers, conducting business in over 100 countries with a team of . Great, that's helpful. Continuing on this theme, Boston Properties has more recently utilized the platform to further streamline and consolidate its reporting to satisfy compliance and benchmarking requirements and demonstrate its leadership and sustainability through programs such as GRESB, EnergyStar and NAREIT's leader in the light award. Before joining REGEN, James led Western US sales for EnerNOC, recognized leader in Demand Response, with a focus on bringing Commercial & Industrial customers together with utility-funded Demand Response programs, and Data-Driven Energy Management solutions. Earlier this week our board authorized a $50 million share repurchase authorization to replace our existing authorization that expires next week. You will find a detailed reconciliation of our third quarter and full-year guidance at the end of the press release we issued this morning. Please go ahead. He received his BS in operations research from Cornell University and his MBA from MIT's Sloan School of Management. Prior to EnerNOC, James served as Distribution Sales Manager at EnergyLogic, a leader in alternative fuel fired furnaces and boilers, where he was responsible for successfully building the U.S. and international sales distribution network and ultimately tripling the companys annual sales in just under four years. GTM Research analyst Elta Kolo noted that Enels 2017-2019 strategic plan pointed to a customer focus, specifically highlighting the future offerings in demand response services. That reduction was partially offset by our ability to add approximately 100 new subscribers to our enterprise EIS platform. Keep your funding profile updated with new funding raised/committed and message interested investors with any new milestones achieved. PJM has represented much more than half of our overall grid operator activity and our game plan with things like what we're doing in Korea, things that we're doing in other international markets that we've been doing over the years, we've gone from six to eight grid operator markets just a year or two ago to operating in 14 grid operator markets and we continue to see the pace of the size of those portfolios increase such that it's our belief that we will be operating a much more diverse grid operator portfolio over the next several quarters and years to come. So and number two we know that this is new for our investor base as well. Speaking of the roller coaster ride of working at a start-up, he noted: It took about five years of R&D. But Alex noted its not just about finding the perfect invention to take to market that makes an entrepreneur successful. Alex Wright-Gladstein worked at EnerNOC for five years post college and has since gone on to co-found Ayer Labs, which makes high bandwidth and energy energy efficient silicon computer chips while getting her MBA. But I guess we would sum it up that we feel as though it's not really going to affect a whole heck of a lot of what we do because we've been prepared for these changes for quite some time and we know that customers and the market value, the value that demand response can bring to those markets and we expect to continue to bring that in the years to come. The expiration of the contract I just mentioned resulted in high utility churn rates for the quarter. He is also on the board of several growth companiesincluding Powin and Micatu, as well as the New England Aquarium. Should we continue to look for that quarterly to move up or is it going to be more lumpy? What's more the complexity and breadth of the energy decisions, these enterprises are addressing with our EIS is growing by the day further solidifying the importance of our software to the organizations. The year-over-year improvement was primarily driven by high margin PJM revenue again associated with the new extended and annual products without which gross margin would have been approximately 40%. At this time all participants are in a listen-only mode. And then lastly, maybe for David, it's good to see Japan expand after I think a couple of years ago you guys first went in there. Mill Valley, California, United States. Past employee success and experience seems to indicate so. Learn How rich is He in this year and how He spends money? While at Lighthouse, Ned's investments have included AppIQ (acquired by HP), Aprimo (acquired by Teradata), EnerNOC (NASDAQ: ENOC), Sandburst (acquired by Broadcom) and ZipCar (NASDAQ: ZIP). Christian Weeks is CEO at enVerid Systems, a company which makes air purification and efficient HVAC modules, after having spent nearly 10 years atEnerNOC. Tim Healy's income source is mostly from being a successful Actor. Reflecting on the success of his former employees, Tim noted that when startingEnerNOC, the culture of the company was a priority and very important to both him and his co-founder. These changes require new training and investment right now to ensure we have a highly capable and productive sales force selling our best-in-class EIS products. Many of you had the opportunity to get to know Gregg over the 10 plus years that he led our sales organizations, so you understand the indelible mark he left on EnerNOC. As President and Co-Founder of EnerNOC, David B has guided the company's execution since its inception in 2001. To answer this, Tim solicited feedback from three formerEnerNOCemployees, asking them to share their perspective of what it takes to scale successfully and breed an innovative, collaborative workforce capable of making major impact. Heres How It Worked and What It Cost. Sign up now to unlock full company profiles and access financials, investor documents, and engage companies. We have a terrific partner in Marubeni, and as I mentioned in my prepared remarks, we now have landed with the three largest utilities, there is 10 utilities that cover Japan, we're now in the three largest utilities which are TEPCO, KEPCO, and Chubu and like our position. So certainly we're going to look to continue to add as much as context and color to the metrics that we provide and make sure that we're doing our part to put those in context for everyone as well. Scott was an early investor in EnerNOC (Nasdaq ENOC), Massive (acquired by Microsoft) and Image Space Media (acquired by Vibrant Media). And so whether it is some of the initial exploratory work that we are doing with ERP vendors, some of the work that we are doing the CRM vendors, we see our ability to provide very targeted, very specific value proposition in our component of the information layer in a key foundational area that is now subject to much more active management activity for the enterprise, bodes well for us as we think about other partners. Tim Healy brings a career ofseniorexecutive experience in energy, utilities and demand responsesolutions. Timothy Healy's largest purchase order was, Enernoc Inc's most recent insider trade came on March 21, 2016 by He is from . Okay, great. The old adage Its 5 Oclock somewhere was in effect last week as Dynamo Hub Members from near and far joined our cocktail-roundtable hosted byTim Healy, former Chairman and CEO ofEnerNOC (now Enel X), and newly announced advisor to Dynamo Energy Hub. Healyis an advisor to several area startups and coaches youth soccer. And then I guess through that process as you're having that conversation, I noted that less than 5% of total enterprise site is subscribing to the full EIS platform. He is a member of famous Actor with the age 69 years old group. Of the approximately 79,000 total enterprise sites at the end of the second quarter, less than 5% were subscribing to our full EIS platform, demonstrating the significant expansion opportunity within our existing customer base that Tim noted earlier. The City of Austin, Texas, the Bank of Georgetown, Stevens Pass ski resort, Diamond Packaging, Southern Oregon University and marketer-printer Sandy Alexander are the first organizations to sign up to the 5 Year Renewable Energy Pledge run by the Renewable Energy Markets Association. Allison Bates Wannop has directed her own consulting and legal practice, focusing on energy law and regulation. All rights reserved. The company, which went public in 2007, announced in March that it was reviewing strategic alternatives, including selling some or all of its businesses, to manage its current financial challenges. GAAP diluted earnings per share is expected to be in the range of $0.47 to $0.57 and non-GAAP diluted earnings per share is expected to be in the $0.80 to $0.91 range. Right now, I think what we chose to focus on as our strategy was survey the market, pick a good partner, go after the U.S. and Canada market together because we did limit the arrangement to the U.S. and Canada with Sun Power and we really try to build out this capability, prove the value proposition to customers and do what we did. So I think there is a lot going on in the ecosystem. Timothy Healy owns about 1,353,907 units of Enernoc Inc common stock. While the focus of Tims roundtable was on scaling cleantech companies, what was most apparent and favoured by the group was Tims passion to influence a new generation of entrepreneurs in cleantech to make a dramatic difference in addressing the most pressing challenge of our time climate change. I talked a little bit about the training that we are putting the sales team through, continued effort to discover what the customers' pain point is. I think for us, we are ready for capacity performance. Now let me share with you our outlook for the third quarter and the remainder of the year. Timothy Healy who bought, In the last year, insiders at Enernoc Inc have sold an estimated value of, Mailing address is C/o Enernoc, Inc. 75 Federal Street, Suite 300 Boston MA 02110 MA. Those that are looking for utility bill management help, make sure that we get into make what is a very painful comprehensive process, make that as painless as possible. That program worth almost $4 million annually was not renewed because the utility had excess capacity and decided not to continue with demand response. We're seeing that there is a dramatic increase in our effectiveness with working with our customers to ensure that we identify what those customers are trying to achieve in terms of their customers' success objectives, making sure we identify those early on. And how does the kind of the payment structure work and would you look to work with other solar companies such as may be Sun Edison for solar who are also involved in big commercial projects? EnerNOC stands for Energy Network Operations Centre. Energy was perceived more or less as rent, it was something that was a fixed cost that wasn't a cost to be managed. This is a new territory for customers. Entering text into the input field will update the search result below. They are perceived as a high tech, very sophisticated player in the solar market. And meanwhile, as I mentioned, South Korea has sort of leapfrogged Japan. "Better information creates much better outcomes for everyone for the whole industry, down to the end users. Some 6,500 companies are using EnerNOC for demand response, and about 4,300 or so are using one or more parts of its software-as-a-service suite, Healy said, although he added that there's a lot . The press release announcing our second quarter 2015 results and our business outlook, as well as a reconciliation of management's use of non-GAAP financial measures as compared to the most applicable GAAP measures, is available on the Investor Relations section of our website at investor.enernoc.com. With the new deal, Consumers will augment its software relationship with EnerNOC by reselling our enterprise EIS professional packages to Consumers large commercial and industrial customers. And don't get me wrong, delivering cost savings is an important benefit of our software but we're finding customers are just as excited about the business productivity gains and improved risk management strategies that our EIS platform delivers. 2023 Greentech Media or its affiliated companies. I was wondering if you could touch a little bit on Eric's new role in global sales and some of the timing. Hudson Gilmeris CEO and Co-Founder ofLineVision, a non-contact sensor platform that continuously monitors the behavior of the transmission system, detects anomalies and issues real-time alerts on risks, allowing utilities to adopt and adapt to renewable energy technology. Since EnerNOC, Tim has dedicated his time to changing the way the world uses energy. And then any guess as to what kind of price separation we might see for this megawatts that don't qualify for CP? He served for over 16 years as Chairman and CEO of EnerNOC, providing energy intelligence and demand response solutions to utilities, grid operators and enterprises. With a J.D. These are non-GAAP financial measures that are not prepared in accordance with generally accepted accounting principles. As a reminder, our full-year outlook calls for consolidated revenue of $410 million to $430 million, adjusted EBITDA of negative $14 million to negative $10 million, GAAP net loss per diluted share of $3.12 to $3.02, and non-GAAP net loss per diluted share of $1.72 to $1.61. Sure, happy to. Also learn how He earned most of networth at the age of 68 years old? Our entire organization is vested in this mission and I like what I'm seeing to-date with this commitment. The majority of the World Energy customers are customers that we think are great candidates for our enterprise software offering. Good morning. The team at Packetized Energy has a deep understanding of the need for grid flexibility and a firm grasp on how innovative technology such as theirs can achieve this, said Healy. $60.11K . This new business unit, headed by former Enel Green Power chief Francesco Venturini, has set its sights on electric mobility, vehicle-to-grid projects, recharging infrastructure, energy-efficiency management, batteries and energy optimization platforms, public lighting and distributed generation systems.. Amperon is that information hub for the energy transition," said Tim. Do not respond to or engage any parties outside of EquityNet that are not listed as approved investors (this may happen due to your public profile and LinkedIn connections). Cision Distribution 888-776-0942 Our final question today comes from the line of Andrew Weisel with Macquarie. His net worth has been growing significantly in 2022-2023. Prepare for due diligence questions by interested investors and use your Business Plan and investment documents to satisfy such requests. And for Tim Healy and the other founders in attendance, this is clearly the goal for all focused on the cleantech energy transition. Contact:Eugene HuntTrevi Communications, Inc.978.750.0333 x.101gene@trevicomm.com. Eric ushers in a new approach to selling software to our customers and is having a significant impact on our go-to-market activity. Not sure what specific other information or color you're looking for but I think what we're seeing is as David mentioned; we're seeing an increase in our pipeline, certainly the pipeline of the utility product. Neil will provide details on our financial results, but from an operating perspective, I like what we achieved in the second quarter. EnerNOC has some $1.3 billion in projects in its pipeline, Healy said. We know there is a bigger ecosystem than just Sun Power and there are a lot of other entities that we're prepared to work with. Understanding the legal framework at a statewide regulatory level is critical to supporting the innovation needed to move toward a clean energy grid, says Wannop. Im thrilled to welcome Tim and Allison to our advisory board. We don't know what other demand response providers are thinking at this point. So I think we may wind up being a little bit more prepared for capacity performance than the rest of the marketplace. The site reduction associated with right-sizing activity in the quarter was more than offset by the addition of approximately 8,000 utility bill management sites related to the U.S. expansion of a large retail customer that we mention on last quarter's call. From September 2000 until October 2010, Adam served as a general partner of Foundation Capital, a venture capital firm. Thank you. So we -- in the past in the last two years, we have been active in both years in repurchasing our stock. Understanding the legal framework at a statewide regulatory level is critical to supporting the innovation needed to move toward a clean energy grid, says Wannop. Just one on the enterprise EIS side, you were sharing lot of metrics on that but in future would you be kind of give us more information if you have like 0.5 million plus how many customers on the ARR are $1 million enterprise customers? At 69 years old, Tim Healy height is 1.68m . Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Throw away 80% of what was just said and find the 20% that has all of the value. We continue to integrate the EIS assets we acquired over the last year and are very enthusiastic about the way that pieces of our business are coming together to drive success for our customers. ", Both Tim and Catherine see Amperon as a major player in the energy transition. Tim's final words of advice for the event trust your gut. Sure, Monika, I think we're starting for as much valuable and transparent information that we can disseminate as possible because we recognize a couple of things. Before that, he co-founded InterSense, Inc., a 3D visualization technology company. Today, EnerNOC is one of the world's largest full-service energy management providers with over 700 employees and operations in the United States, Canada, the United Kingdom, Australia and New Zealand. Net Worth in 2021. Where Will DOE's Loan Program Make the Next Climate Tech Investments? One final thought before turning it back over to Chris for Q&A. What the Frack Is Happening With Natural Gas Prices? And that's exactly what occurred with our enterprise customer count in Q2. Those auctions are going to allow market participants to replace some level of existing obligation for those years with capacity performance product. We mentioned this a little bit on the last call but right now we fully expect that we're going to be well-equipped to adapt to the new products of capacity performance. from 8 AM - 9 PM ET. But it's moving in a pace we would obviously love it to go faster but we like the direction generally its heading. Early indication suggests we are right to be bullish about our ability to be successful with this strategy but there is more work to do to make sure we are relentlessly focused on our customer success. Thanks, Tim, and good morning to everyone on the call. We're thrilled to have him on board. Tim recalled a conversation during the early days of starting EnerNOC, when a new employee disclosed some uncertainty in their career choice to work at the cleantech start-up. Although there may be fluctuations on a quarterly basis, we generally expect to post negative net churn rates as we expand within our existing customer base. We increased our enterprise ARR by $3 million sequentially to $58 million at the end of Q2 driven principally by new sales of our EIS platform. I would like to begin by discussing some recent highlights which you can see on Slide 3. As we sit here today, we expect to be roughly cash flow breakeven in aggregate through 2017 although there will likely be year-to-year fluctuations during that period. We don't know that for sure obviously but there are some intuitive observations that would suggest and I don't think that we're alone in predicting that you could see higher prices for the capacity performance product. Im excited to bring my experience and industry knowledge on board to help utility customers advance the transition toward a cleaner and more responsive energy network.. As Chris mentioned, I'm joined on today's call by David and Neil, and at the conclusion of my remarks, which will focus primarily on our Enterprise Software business, David will update you on our Utility Software business and grid operator business. Over the last 12 months, we have seen hundreds of progressive enterprises begin to use our software as an energy decision support system. Congress Passes Spending Bill With Solar, Wind Tax Credit Extensions and Energy R&D Package, The 5 Most Promising Long-Duration Storage Technologies Left Standing, I Fully Converted a Home to Electricity. It doesn't limit us interestingly enough in working with other types of distributed energy companies. We intend to put forth a bid that will have us bidding some capacity performance. Turning now to some of the metrics we are using to track the development of our software business, I will begin on Slide 5, with our enterprise business where we ended the quarter with approximately 4,300 customers and approximately 79,000 sites. We experienced tremendous revenue growth on Gregg's watch and we are very grateful to him for his many contributions to EnerNOC over the years. While we are disappointed with that development and its impact on our utility ARR, we continue to see improvement in the quality of our utility ARR as the mix shifts from turnkey demand response to subscription-based EIS. We expect to end this year with approximately $175 million of cash which would put us in a slight net cash position after considering our $160 million convertible note that matures in 2019. Get in there, ask for a fairly modest sub $100,000 budget commitment that can generally be found in a lot of large organizations, I would just call it unallocated or discretionary budget and then try to get that budget built into or get our Energy Intelligence Software built into the next year's budget.
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