TOKYO, Dec. 10, 2013 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software, announced that EnerNOC and Marubeni Corporation have entered into an agreement to form a joint venture (JV) to provide demand response (DR) in Japan. The new company will be named EnerNOC Japan, KK and will have an exclusive license to market EnerNOC's DemandSMART TM cloud-based DR application throughout the country. The two firms also announced today their award of a government-sponsored DR program with the Tokyo Electric Power Company (TEPCO), Japan's largest utility.
The JV will bring together EnerNOC's expertise as the world's largest provider of DR, with Marubeni's vast expertise and leadership position in both the electric power sector and the Japanese market. This JV will build upon successful past collaborations between the firms in Japan, most notably their joint participation in a DR pilot program with Kansai Electric Power Company (KEPCO) in the summer of 2012.
As the world's third largest economy, Japan's electric demand is similar to that of the PJM Interconnection in the United States, EnerNOC's largest market. The TEPCO system alone is comparable in peak demand to that of ERCOT (Texas) or National Grid (UK). The electric power industry in Japan has been facing unprecedented challenges since the Great East Japan Earthquake in March 2011. Today, all 54 of Japan's nuclear power stations – representing about one-third of installed electric generation capacity – remain offline."Both EnerNOC and Marubeni believe that the Japanese market is ripe for demand response. There is growing national attention in Japan on intelligent buildings and smart grids, and an increased focus by utilities and policymakers on the importance of demand-side management," said David Brewster, President of EnerNOC, from Tokyo while on a trade mission to Japan with Governor Deval Patrick of Massachusetts. "We are thrilled to announce this partnership with one of the world's leading energy firms."
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