BOISE, Idaho – M2M Communications (M2M) – one of the state's fastest growing technology companies – has been acquired by Boston-based EnerNOC, a public company and world leader in automated demand response and energy management services, according to M2M founder and CEO Steve Hodges
Demand response is a rapidly expanding strategy for managing energy by reducing electricity usage during peak demand periods, ideally through automated technology or "Auto-DR." Participants in utility demand response programs often earn incentives for participating, typically either rate breaks, bill credits or cash payments. Utilities benefit by deferring the need to build new power plants or purchase expensive electricity when demand is high.
M2M offers wireless energy and water management solutions for utility and agriculture customers in the US and overseas. With 42 employees in Idaho and California, M2M was founded in 2003 by Hodges, a former Hewlett Packard engineer who is credited with starting five companies in Boise. M2M is an acronym for Machine-to-Machine communications technologies. Other Boise companies founded by Hodges include Computrol, SynPet, Design Concepts International, and Telemetric.
“With the increased worldwide focus on alternative energy and the improved management of energy supply and demand, our industry will continue to expand,” said Hodges, who will remain on board as a Senior Director of EnerNOC.
"This acquisition adds several key elements to EnerNOC's already strong program," Hodges added. "First is our web-to-wireless remote monitoring and control technology, which includes both hardware and network operations center software. Second is our very smart team of engineers, developers and marketing folks. And then there is our experience and success in deploying systems for agriculture customers. The Ag sector has a great deal of untapped potential for energy management without impacting utility customers, the economy or critical organizations like businesses, schools and hospitals."
M2M's major client list includes Idaho Power, Pacificorp, Pacific Gas and Electric (PG&E), National Grid, Midwest Energy and other electric utilities. M2M also produces a remote control system for the world’s largest line of center pivot irrigation systems manufactured by Valley Irrigation.For PG&E in California, M2M helps to meet demands for electricity and avoided blackouts by shutting down large irrigation pumps and food storage cooling systems on selected hot summer afternoons. This program, called Peak Agriculture Energy Rewards (PEAR), offers cash and equipment incentives to growers in exchange for "NegaWatts."
To date, M2M systems are monitoring and controlling industrial and commercial equipment at over 16,000 locations in the USA and in 22 countries around the globe.
EnerNOC has some 550 employees across the nation and its stock is traded on the NASDAQ exchange under the symbol ENOC. The name EnerNOC is a combination of the words Energy and Network Operations Center.
“M2M’s technology expertise, coupled with its contracts with key utilities--particularly in California and the Midwest--is an ideal complement to EnerNOC’s overall suite of offerings for utility, commercial and industrial customers,” said Tim Healy, EnerNOC Chairman and CEO. “M2M has the unique ability to tap into largely un-penetrated markets, both domestically and internationally, such as demand response at agricultural facilities, with more than 10 gigawatts of DR potential in the United States and even more throughout the world.”
About M2M Communications
M2M Communications specializes in the design, manufacture, and operation of web-to-wireless remote monitoring and control products and services for energy management. M2M products and services combine the accessibility of wireless communications with the power of the Internet to provide fully-featured monitoring and load control solutions to its end-use and utility partners. For more information, please call (208) 947-9500 or visit www.m2mcomm.com and www.pearcalifornia.com.
About EnerNOC
EnerNOC unlocks the full value of energy management for our utility and commercial, institutional, and industrial (C&I) customers by reducing real-time demand for electricity, increasing energy efficiency, improving energy supply transparency in competitive markets, and mitigating emissions. We accomplish this by delivering world-class energy management applications including DemandSMART™, comprehensive demand response; EfficiencySMART™, data-driven energy efficiency; SupplySMART™, energy price and risk management; and CarbonSMART™, enterprise carbon management. Our Network Operations Center (NOC) continuously supports these applications across thousands of C&I customer sites throughout the world. Working with more than 100 utilities and grid operators globally, we deliver energy, ancillary services, and carbon mitigation resources that provide cost-effective alternatives to investments in traditional power generation, transmission, and distribution. For more information, visit www.enernoc.com.