EnerNOC buys M2M Communications
M2M manages hundreds of megawatts of demand response capacity throughout the U.S.
Boston, January 26, 2011 — EnerNOC, Inc. announced that it has acquired M2M Communications, a provider of wireless technology solutions for energy management and demand response.
M2M manages hundreds of megawatts of demand response capacity throughout the U.S. and has contracts with leading utilities including Pacific Gas and Electric, Idaho Power, PacifiCorp, Midwest Energy, and National Grid, among others.
Founded in 2003 in Boise, Idaho, M2M's wireless technology and automated demand response solutions have enabled the company to bring hundreds of megawatts of demand response capacity online rapidly and cost-effectively.
Just last month, EnerNOC acquired another demand response firm, Global Energy Partners. Click here to read that story.
"M2M's technology expertise and its contracts with key utilities — particularly in California and the Midwest — are an ideal complement to EnerNOC's 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, such as demand response at agricultural facilities, which represents more than 10,000 megawatts of DR potential in the United States and even more worldwide."
In California, M2M is the largest third-party provider of automated demand response and is experienced in the agricultural demand response market. M2M has established a Fresno office and teamed with multiple utilities and the Department of Energy to create the Peak Energy Agriculture Rewards program.
PEAR focuses on the rapid enablement of demand response capacity provided by large irrigators, cold storage operators, and food and beverage processors.
The market for agricultural demand response in California alone is over 1,000 MW, largely from thousands of irrigation pumps that can be curtailed throughout the Central Valley, a region that produces about eight percent of the nation's agricultural output.
EnerNOC, already one of the world's largest providers of third-party automated demand response, expands its portfolio of automated resources with this acquisition. EnerNOC also recently joined the OpenADR Alliance and acquired AutoDR program implementation leader, Global Energy Partners.
EnerNOC anticipates this acquisition to be neutral to dilutive in 2011 and accretive in 2012. More specific financial details were not released.