Ecova Acquires Retroficiency, Bolstering Capabilities in Building Analytics
Company adds deep expertise and technology in building analytics to drive energy savings for utilities and commercial and industrial clients
Spokane, WA — October 14, 2015 — Ecova, the total energy and sustainability management company, announced that it has acquired Retroficiency, the leading building efficiency intelligence company. Ecova will leverage Retroficiency’s deep expertise and innovative patent-pending technology in building analytics to drive energy savings and engagement for commercial and industrial customers, both through utilities and directly. Retroficiency analyzes meter data and available building information to rapidly create energy models of buildings that accurately identify energy efficiency and demand savings opportunities at an unmatched speed and scale.
“This acquisition strengthens Ecova’s ability to combine data and technology, with people and insight, to drive powerful results for utility customers, commercial clients and the environment,” said Jana Schmidt, president and CEO of Ecova. “It also emphasizes Ecova’s commitment to analytics-driven customer engagement for utilities; and enhances Ecova’s dedication to help commercial clients reduce energy consumption across their portfolio of sites.”
The utility industry is more dynamic than ever before. Utilities must significantly enhance customer satisfaction and engagement efforts in order to meet increasing energy savings expectations while also successfully navigating a changing landscape, as renewables and distributed energy resources provide the real possibility of market disruption.
“We truly value what both Ecova and Retroficiency bring to Puget Sound Energy,” said Ryan Lambert, manager of business energy management at Puget Sound Energy. “Retroficiency’s platform gives us the ability to perform tailored energy assessments of commercial customers remotely, and Ecova has proven its comprehensive program delivery capabilities by successfully supporting our demand side management portfolio since 2002.”
In order for utilities to achieve their savings goals and increase customer loyalty, they need targeted, simple, personalized and cost-effective programs that deliver value and make it easy for their customers to use energy more efficiently. Retroficiency’s platform has demonstrated the ability to improve customer engagement by 4x versus traditional program marketing efforts, helping to quickly lead to customer project commitments.
“Retroficiency’s leading building analytics capabilities, combined with Ecova’s vertical market expertise and energy efficiency program delivery, will enable customers to quickly identify and implement energy efficiency opportunities within their buildings,” said Bennett Fisher, CEO and co-founder of Retroficiency. “We’re very excited for this union between our two companies and know the market will be too.”
As a leading utility energy efficiency program implementer, Ecova serves nearly 50 utilities across the U.S. and has delivered more than 108 terawatt-hours of energy savings over the past 11 years. For Ecova’s broad base of commercial and industrial clients, this acquisition enables remote analytics for buildings in Ecova’s energy and sustainability management portfolio of over 700,000 sites.