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TheStreet Open House

EnerNOC Acquires Leading European Demand Response Company Entelios AG

Stocks in this article: ENOC

BOSTON and MUNICH, Germany, Feb. 13, 2014 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS), today announced that it has acquired Entelios AG, a leading provider of demand response in Europe. This acquisition accelerates EnerNOC's entry into continental Europe with Entelios' strong team and existing relationships with leading grid operators, utilities, retailers, and commercial, institutional, and industrial customers.

Germany is one of Europe's largest potential markets for demand response and energy intelligence software, with a peak demand for electricity of roughly half the size of the PJM Interconnection in the United States. Given the increasing level of intermittent renewable energy resources in its electricity system, Germany has a growing need for resources which can balance power supply and demand.

Entelios has built a technology platform that meets the requirements of all four transmission system operators in Germany to deliver demand response resources to help manage these system imbalances. Further, Entelios was the first demand response company to successfully deliver load in Germany's high-value secondary reserves market, which today has a total size in excess of 4,000 megawatts.

Entelios has begun to expand its presence beyond Germany, and its technology platform is designed to support continued expansion to other European markets. Entelios already has established contracts with major European utilities with significant presence outside of Germany. For example, Entelios signed an agreement in November 2013 with VERBUND, Austria's largest electricity company, to provide commercial and industrial demand response in the VERBUND Power Pool in Austria.

"Europe is ripe for accelerated adoption of demand response and energy intelligence software. Entelios has both the local market expertise and customer base that will help EnerNOC establish an important foothold in continental Europe, consistent with our growth and market diversification strategy," said Tim Healy, Chairman and CEO of EnerNOC.

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