×

EnerNOC’s Demand Response Portfolio in Korea Surpasses One Gigawatt

BOSTON, Nov. 03, 2016 (GLOBE NEWSWIRE) -- EnerNOC, Inc. (Nasdaq:ENOC), a leading provider of energy intelligence software (EIS) and demand response solutions, announced today that its demand response portfolio in Korea surpassed one gigawatt—roughly equivalent to the amount of power generated by a nuclear power plant.

EnerNOC entered the market in late 2014, following legislation earlier that year that introduced demand response into the country’s wholesale capacity market. Since establishing operations in Korea, EnerNOC has become the preferred demand response provider to some of the region’s largest enterprises, public institutions, and universities, including S-Oil, COEX, Korea University, and Seoul City Government.

“We partnered with EnerNOC because they’re the world’s leader in demand response. They have the experience we rely on to ensure that we can participate in demand response without compromising our operations,” said JaeHee Kang, Facility Manager at Korea University.

Demand response has grown rapidly in Korea, propelled by the government’s strong commitment to creating a sustainable and competitive market and EnerNOC’s ability to leverage its industry-leading technology and experience to scale quickly.

“Korea relies on fuel imports to meet nearly 100% of its electricity needs. Demand response gives the Korean government increased flexibility to meet demand in a clean, cost-efficient way, with a reliable domestic energy resource, while at the same time allowing Korean businesses to use their flexibility to earn valuable new revenue streams,” said David Brewster, President, EnerNOC.

“Our success in Korea has been instrumental in stimulating interest throughout Asia. We’re excited about the emerging opportunities we see on the horizon to make DR a more integral part of the resource mix throughout the region,” added Brewster.

About EnerNOC

EnerNOC is a leading provider of energy intelligence software (EIS) and demand response solutions. With capabilities to better address budgets and procurement, utility bill management, facility analysis and optimization, sustainability and reporting, project tracking, and demand management, EnerNOC's SaaS platform helps enterprises control energy costs, mitigate risk, and streamline compliance and sustainability reporting. EnerNOC also offers access to more demand response programs worldwide than any other provider, offering enterprises a valuable payment stream to further enhance bottom line results and utilities and grid operators a reliable, cost-effective demand-side resource. For more information, visit www.enernoc.com.

Safe Harbor Statement

Statements in this press release regarding management's future expectations, beliefs, intentions, goals, strategies, plans or prospects, including, without limitation, statements relating to the Company's future financial performance on both a GAAP and non-GAAP basis, and the future growth and success of the Company's energy intelligence software and demand response solutions, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including those risks, uncertainties and factors referred to under the section "Risk Factors" in EnerNOC's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, as well as other documents that may be filed by EnerNOC from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. EnerNOC is providing the information in this press release as of this date and assumes no obligations to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

EnerNOC Media Relations: Sarah McAuley 617.532.8195 news@enernoc.com EnerNOC Investor Relations: Christopher Sands 617.692.2569 ir@enernoc.com

Source:EnerNOC, Inc.