Innovari Announces Acquisition Of NetPeak Energy

AUSTIN, Texas, Oct. 13, 2014 /PRNewswire/ -- Interactive energy platform developer, Innovari, announced today the acquisition of NetPeak Energy to advance its mission to help utilities, their commercial customers and regulators improve how the world uses energy.

Innovari's utility-centric solution addresses the electric grid's core problem - the load duration curve - to improve overall system utilization, reliability, security, and affordability across the entire energy value chain for all stakeholders. NetPeak Energy joining Innovari will significantly strengthen the company's global portfolio of strategic relationships, complementing its recent expansion into Latin America and India.

NetPeak Energy designs solutions for its commercial customers to maximize demand response revenue in existing energy markets while keeping demand reductions invisible at the operational level. The company's approach to demand response offers a cost-effective, reliable, and responsive demand optimization solution to deliver into active energy markets or utility demand side programs.

"NetPeak is unique in the crowded demand response market. Their tremendous growth in the last 18 months is continued validation that commercial customers are seeking a smarter and more effective way to participate in an evolving energy market. Bringing the NetPeak Energy and Innovari teams together will serve to continue to strengthen our relationships with utilities and commercial customers," Innovari founder and CEO Chris Hickman said. "We can now offer unparalleled opportunities to tens of thousands of commercial customers who are ready and willing to support their individual utility's grid optimization efforts."

The two companies combined will bolster Innovari's Interactive Energy Platform™ to empower utilities and their commercial customers to become allies in optimized grid performance, affordable and reliable energy, incorporation of new and dynamic distributed energy resources, and community involvement.

"Innovari has proven to be world class in their approach to optimizing grid performance and creating a better and more positive relationship between utilities and their customers," said NetPeak Energy Senior Vice President and CTO Mike Verkuylen. "We will now be able to expand the opportunity for our customers across the entire U.S. and the globe, rather than just their sites within an existing energy market or program. We are incredibly excited about the potential value this will allow us to continue to drive for our existing and new customers and value it will bring to the entire energy value chain." 

The Edison Electric Institute's (EEI) Fall National Key Accounts Workshop on October 12-15, 2014 in San Diego, CA will be the launch and first time appearance of Innovari and NetPeak Energy as one company.

About Innovari:
Innovari's interactive energy platform connects utilities, their customers, and their communities to improve how the world uses energy. Our solution attacks the electric grid's core problem—the load duration curve—unlocking access to affordable capacity that improves system utilization, reliability, and financial performance, while our non-profit, Plugged into Kids, brings together utilities and their customers to help the children in their communities. With deep grid situational awareness, we enable dynamic, two-way verifiable demand side management; grid system optimization; renewable and distributed energy resources integration; and more. Innovari is the utility industry's Capacity for Change: www.Innovari.com.

SOURCE Innovari

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