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? After my first board meeting at EnerNOC, I had people giving me 1020 ideas on what we should do. This deal exemplifies the transformation that is underway in the utility industry. In essence, the court felt that the EPA did not adequately justify raising the limit from 15 hours to 100 hours per year. The Asia-Pacific region was the largest driver of the year-over-year improvement due to the aforementioned growth in Western Australia and South Korea. Complete a Business Plan in EquityNet and refine your financial projections using the benchmarking alerts in the Business Plan Analysis report. And then we've made also at the same time over the last year, we have made an investment in our global services team which you can think of as our customer success team which is all about delivering our product to the customer and making sure that the customer experience is what the customer is expecting. Speaking of the roller coaster ride of working at a start-up, he noted: It took about five years of R&D. Any sense of what the, I guess, more substantial barriers to adoption are for EIS software and how you are working to identify overcoming those? EnerNOC has been struggling on multiple fronts. In addition to his executive experience, Healy has been a board member or executive advisor to various companies including Veregy, P3 Energy, and Genability. 2023 Greentech Media or its affiliated companies. There are storage companies that we can work with as you saw with Tesla. And then if that is successful, were going to have 20 or 30 different EnerNOC employees who go on and start their own companies in this sector, and the promise of cleantech and the promise of energy transition is going to be real., Today, there are at least 30 former EnerNOC employees that are now CEOs, co-founders or heads of their companies, most of them in the clean energy sector. Our next question comes from the line of John Quealy. But EnerNOC CEO Tim Healy said in a Thursday interview that the sale to Enel is a validation of our strategy in the marketplace. 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. It doesn't limit us interestingly enough in working with other types of distributed energy companies. The residual 300 basis points improvement relative to Q2 of 2014 was driven by the growth of our high margin enterprise revenue. A lot of how we do that is the land and expand strategy that I referred to, get in there with a modest ask initially of a low penetration of sites. 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. Over the trailing 12 months period that ended in Q2, the gross churn rate of our enterprise ARR was 12% which is not all that surprising in the context of a reduction of legacy World Energy customers. [Operator Instructions]. As we previously highlighted, the rapidly evolving utility landscape is creating a unique opportunity for EIS and we continue to see progress as we go to market with our offerings. Be proactive in messaging many investors and include a simple way for them to connect with you for a web meeting or call, such as a Calendly link. Our utility ARR declined by $3 million sequentially in the quarter due to the expiration of a demand response contract with a utility in the Southwestern United States. BURLINGTON, Vt., Jan. 26, 2021 (GLOBE NEWSWIRE) -- Packetized Energy announced that Tim Healy, former Chairman and CEO of energy intelligence and demand response leader EnerNOC, and Allison Bates Wannop, Founder of 44 North PLC, have joined its Board of Advisors. "Grids are more volatile than ever, and the energy industry needs a trusted source of insights to manage risk and prevent blackouts. In the second quarter, we more than tripled the size of our utility pipeline. I know that traditionally we have differentiated ourselves to customers, to utilities and in many respects to grid operators who acknowledge that EnerNOC has always led the pack in terms of its technical capabilities, in terms of its customer flexibility and the like. Tim Healy brings a career ofseniorexecutive experience in energy, utilities and demand responsesolutions. One, this is a new enterprise software space and as the leaders in that space, it's up to us to help put this information in context. Yes, John, it's Neil. View Tim Healy's profile on LinkedIn, the world's largest professional community. Packetized Energy provides utilities in the U.S. and Canada with energy flexibility software and IoT solutions and is headquartered in Burlington, Vermont. Where Will DOE's Loan Program Make the Next Climate Tech Investments? Boston Properties has rolled out our EIS platform across its actively managed U.S. based portfolio providing the company the visibility it needs to reduce risk drive operational efficiencies and achieve sustained energy savings. His books include Green to Gold, The Big Pivot, and Net Positive. Heres How It Worked and What It Cost. Neil will provide details on our financial results, but from an operating perspective, I like what we achieved in the second quarter. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Tim Healy - ETS@chicago | Energy Thought Summit We've looked at our account management team and structured it into a hunters and farmers type of model and continued to do that with some of the integration work that we've brought in from our World Energy team as well. We think that there is an information layer that's going to be important to any number of distributed energy companies, companies that are trying to offer a fully integrated distributed energy resource or a fully integrated new energy contract for customers will continue to be a target of some of our partnering and business development efforts. Welcome to our second quarter 2015 conference call. Having previously enforced compliance with state renewable energy standards and reviewed numerous regulatory filings, Wannop advises Packetized on providing regulators the data and insights needed to develop an effective regulatory environment for a clean energy future. Scaling Successfully: Cleantech Roundtable with Tim Healy Joan Anderton (m. 2015), Denise Welch (m. 19882012). Mill Valley, California, United States. 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. Should we continue to look for that quarterly to move up or is it going to be more lumpy? The last publicly traded U.S. demand response company standing is going private. He received his BS in operations research from Cornell University and his MBA from MIT's Sloan School of Management. Just one more comment, capacity performance is expected to account for approximately 80% of capacity in the 2018, 2019 delivery year as well as the 2019, 2020 delivery year before becoming the sole product in the 2020, 2021 delivery year. Yes, we're finding that there is low hanging fruit in that manner. Recurve's open-source SaaS platform and tools help utilities leverage their smart meter data to quickly and accurately measure . 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). Im looking forward to helping Packetized Energy bring those insights directly to regulators and decision-makers.. Earlier this week our board authorized a $50 million share repurchase authorization to replace our existing authorization that expires next week. And so you look at your top five, top 10 system integrators throughout the world and you're seeing them start to make investments and what's going on here at EnerNOC is those are conversations that are taking place that are looking very fruitful for us moving forward as well as system integrators can help us bring our product to market, they can get big system integrator contracts and we can get our software deployed and the customer more successful, more quickly. This is a community-generated profile. Tims deep expertise in the energy industry and track record of growing companies in the electricity sector will be invaluable as we advance as a leader in energy flexibility, said Paul Hines, CEO and Co-founder of Packetized Energy. ", Catherine, former executive at J.P. Morgan and current board member of the regional transmission organization ISO New England, Inc, knows the importance of accurate data in this space. That's roughly five times last year's revenue of $280 million. At this time all participants are in a listen-only mode. What's more, its combination of demand response with software for energy procurement and management covers both utility-facing and customer-facing parts of the revenue equation. While the initial reaction when first learning about our software is often how much savings can it generate, what's the IRR, EIS is much more than just a savings tool. David has pioneered efforts to make customer participation in these markets more effective through improved market rules and technologies. "To have Tim, the pioneer in demand-response technology, and Catherine, a dominant figure in global commodities, join our board only solidifies the important work Amperon is doing. With increasing rolling blackouts, extended price spikes, heavy renewables and EV penetrations, and extreme weather events, energy market participants of all stripes rely heavily on Amperon to guide their operational decisions. These are the people that will make you sharper and balance your perspective Christian Weeks, CEO of enVerid Systems, The reality is, youre going to have valleys of death and multiple mountains beyond that first peak. 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. Also, in May, 2007, the mother met Robert Katzman, a Federal Bureau of Investigation (FBI) agent living in . First, I agree with your assessment that about 80% of what clears in the BRA should be CP. Thanks, guys. January 26, 2021 10:00 ET Thank you so much. I'm going to begin today by providing some color on our recent utility wins and then I'll provide an update on our grid operator business. Since taking over during the second quarter, Eric has reorganized our sales force and revamped our sales process to make sure that we have the right people going to market, selling our platform in an effective way. The company was founded in 2001 by Tim Healy and David Brewster. So and number two we know that this is new for our investor base as well. We'll make a few comments on capacity performance which was approved and how we expect that might impact our business. We expect the decision by the end of that session, but we're not handicapping any timeframe before that. Tim Healy is an experienced executive chairman, CEO, and entrepreneur, with a demonstrated history working in the information technology, energy and managed services industries. There's going to be an increased emphasis on renewables and other means for utilities to meet there -- I guess it's another means for utilities to execute on their strategy to get closer to their customers and engage their customers in a more complex environment that they're operating in. I just think that the one added element is that we are not in there with existing budgets saying that we are coming with a solution that's better, cheaper, faster, and in the cloud. EnerNOC's (ENOC) CEO Tim Healy on Q2 2015 Results - SeekingAlpha We have estimated Tim Healys net worth, money, salary, income, and assets. And so with that, part of what we need to overcome is we need to get the customer to allocate budget. Contact:Eugene HuntTrevi Communications, Inc.978.750.0333 [email protected]. In addition to this EIS reselling arrangement, the deal includes demand response for consumers business customers of all sizes. Enel to Buy EnerNOC for $250M, in Bid for Demand Response and Energy degree from Northwestern Law and a B.A. Our entire organization is vested in this mission and I like what I'm seeing to-date with this commitment. Prior to EnerNOC, David worked at Beacon Power Corporation (NASDAQ: BCON), a developer of flywheel-based energy storage solutions for grid-scale frequency regulation services and other applications. Under the terms of the acquisition, EnerNOC expects to continue in all its current lines of business, and to incorporate its software and services into Enels growing suite of customer-facing energy services. He was hired atEnerNOCstraight out of his MBA program at MIT. Enel is one of the energy giants making serious investments in the emerging world of customer-owned and -controlled energy assets, from smarter building energy management systems and rooftop solar to batteries and plug-in electric vehicles. As President and Co-Founder of EnerNOC, David B has guided the company's execution since its inception in 2001. His wife is Joan Anderton (m. 2015), Denise Welch (m. 19882012). In addition to his executive experience, Healy has been a board member or executive advisor to various companies including Veregy, P3 Energy, and Genability. We're targeting getting to 70% within next year or so. If we look at international revenue, we saw the growth across the majority of our portfolio. This is truly a bittersweet move because Eric is succeeding our long-time Head of Sales, Gregg Dixon. There, you'll also find a summary statement of operations, a summary balance sheet, and a summary of key financial and operating statistics for the last five quarters. Christian Weeksalso iterated on the importance of team building, especially in a startup environment. 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. Please go ahead. 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. Please go ahead. In 2007, he led EnerNOC's initial public offering, which was named IPO of the Year by the Association for Corporate Growth Boston and Mass High Tech magazine, and received the Ernst & Young Entrepreneur of the Year Award in New England. "I see this not as Enel being eager to take on a turbulent wholesale demand response business and an underperforming SaaS business, but rather as Enel looking for a global platform for growth in C&I energy management, Andrew Mulherkar, GTM Research senior grid edge analyst, said of Thursdays news. Just as context, Japan is a very large market as you know and after Fukushima is going through massive reform where they're essentially deregulating the entire market as we've seen in parts of the U.S., making competitive retail supply and generation to all customers and that's happening over the next few years. Founded in 2018 by a seasoned data engineer and a veteran energy trader, Amperon serves electricity retailers, energy traders, grid operators, and utilities worldwide. As a reminder, ladies and gentlemen this conference is being recorded. Is this happening to you frequently? While our overall presence in Japan remains small, these are positive steps as we look to grow our business in that large market in the coming years. To sign up for our monthly newsletter to stay up-to-date on Dynamos upcoming events and thought leadership content, receive event overviews, and to hear the latest news from our community,get in touch with us. By quickly adopting multiple EIS products to serve the energy intelligence needs of all of its business customers, Consumers is operating with a sense of urgency to adapt to the changing landscape and get closer to its customers. ", Both Tim and Catherine see Amperon as a major player in the energy transition. Shifting gears to our grid operator business, we continue to execute on our strategy to diversify our grid operator revenue through international expansion and we're excited about the progress we've made in South Korea which is expected to be our third largest international market this year. But basically that churn is taking place as contracts expire and so there is sort of an annualization to that process. We view this as a normal course corporate activity and I would like to remind you and emphasize that our top capital deployment priority remains investing in the growth of our enterprise and utility EIS business. He served for over 16 years as Chairman and CEO of EnerNOC, providing energy.