SPOKANE, Wash.--(BUSINESS WIRE)--Ecova, the total energy and sustainability management company, announced that it has acquired Retroficiency, the leading building efficiency intelligence company. Ecova will leverage Retroficiency’s deep expertise and innovative patent-pending technology in building analytics to drive energy savings and engagement for commercial and industrial customers, both through utilities and directly. Retroficiency analyzes meter data and available building information to rapidly create energy models of buildings that accurately identify energy efficiency and demand savings opportunities at an unmatched speed and scale.
“This acquisition strengthens Ecova’s ability to combine data and technology, with people and insight, to drive powerful results for utility customers, commercial clients and the environment,” said Jana Schmidt, president and CEO of Ecova. “It also emphasizes Ecova’s commitment to analytics-driven customer engagement for utilities; and enhances Ecova’s dedication to help commercial clients reduce energy consumption across their portfolio of sites.”
The utility industry is more dynamic than ever before. Utilities must significantly enhance customer satisfaction and engagement efforts in order to meet increasing energy savings expectations while also successfully navigating a changing landscape, as renewables and distributed energy resources provide the real possibility of market disruption.
“We truly value what both Ecova and Retroficiency bring to Puget Sound Energy,” said Ryan Lambert, manager of business energy management at Puget Sound Energy. “Retroficiency’s platform gives us the ability to perform tailored energy assessments of commercial customers remotely, and Ecova has proven its comprehensive program delivery capabilities by successfully supporting our demand side management portfolio since 2002.”
In order for utilities to achieve their savings goals and increase customer loyalty, they need targeted, simple, personalized and cost-effective programs that deliver value and make it easy for their customers to use energy more efficiently. Retroficiency’s platform has demonstrated the ability to improve customer engagement by 4x versus traditional program marketing efforts, helping to quickly lead to customer project commitments.
“Retroficiency’s leading building analytics capabilities, combined with Ecova’s vertical market expertise and energy efficiency program delivery, will enable customers to quickly identify and implement energy efficiency opportunities within their buildings,” said Bennett Fisher, CEO and co-founder of Retroficiency. “We’re very excited for this union between our two companies and know the market will be too.”
As a leading utility energy efficiency program implementer, Ecova serves nearly 50 utilities across the U.S. and has delivered more than 108 terawatt-hours of energy savings over the past 11 years. For Ecova’s broad base of commercial and industrial clients, this acquisition enables remote analytics for buildings in Ecova’s energy and sustainability management portfolio of over 700,000 sites.
Ecova is the total energy and sustainability management company whose sole purpose is to see more, save more, and sustain more for its clients. Using insights based on consumption, cost and carbon footprint data spanning thousands of utilities, hundreds of thousands of business sites and millions of households, Ecova provides fully managed, technology-optimized solutions for saving resources, which in turn increase returns, lower risks, and enhance reputations. Ecova is a subsidiary of Cofely, ENGIE Group. For more information, visit the company’s website at ecova.com, on LinkedIn at linkedin.com/company/ecova, or follow Ecova on Twitter at @ecovainc.
Retroficiency is the building efficiency intelligence company for utilities and energy service providers. Its proprietary software platform creates a unique energy model of any building to provide actionable insights that enable the fastest, most cost-effective way to target buildings, engage customers, convert projects and track opportunities at scale. Retroficiency is trusted by leading organizations to improve their energy efficiency programs and services, and has evaluated more than three billion square feet of building space since March 2011. For more information, please visit http://www.retroficiency.com.