GridPoint Named One of “20 Most Promising Enterprise Software Companies” by CIOReview

Arlington, VA – March 25, 2014 – GridPoint, an innovator in comprehensive, data-driven energy management systems (EMS) that enable customers to optimize energy savings, facility efficiency and sustainability efforts, today announced that it was named one of CIOReview’s “20 Most Promising Enterprise Software Companies.” The report highlights industry leaders in a variety of software fields that are poised for rapid growth and aims to assist chief information officers in evaluating solutions that best suit the needs of their businesses. President and CEO Todd M. Raba commented on the award saying, “GridPoint is honored to once again be recognized as a leader in enterprise energy management solutions. Our asset-level submetering, environmental monitoring and intelligent controllers leverage Internet of Things technology—from big data to cloud-based analytics—and allow us to help companies and organizations cut down energy usage, costs and carbon emissions.”

When it comes to managing energy, businesses and organizations face several problems: Costs of energy are rising and volatile, pricing is complex, government regulation is steadily increasing and there is a lack of granular equipment-level energy consumption data, which is necessary to help enterprises determine how energy is used and make intelligent decisions to reduce consumption. According to the United States Department of Energy and ENERGY STAR, there are five million commercial buildings and industrial facilities that account for 61% of U.S. electricity consumption and $202 billion in total energy costs each year. Additionally, ENERGY STAR’s research shows that 30% of this energy is either unnecessary or inefficiently used.

GridPoint’s energy management system combats wasted energy and money by introducing real-time energy usage sensoring and big data analytics to provide visibility into total consumption of buildings, campuses or an entire fleet of sites. The data is then sent to a cloud-based platform where advanced analytics, sophisticated algorithms and control automation are applied to optimize building energy consumption continuously based on dynamically changing environmental conditions. For example, by using GridPoint’s solutions, a major national retailer averages savings of 23% per site in electrical and gas energy expenses by monitoring heating, ventilation and air conditioning (HVAC) performance. Typically, customers can see savings of up to 30% per site and an 18-36-month payback.

Christo Jacob, managing editor of CIOReview says, “GridPoint’s energy management applications rose to the top due to its advanced cloud-based architecture and real-time, data-driven approach to energy monitoring, analytics and control, things we know CIOs look for when evaluating new systems.”

Over the past year, GridPoint has consistently received industry recognition for its comprehensive energy management system. In 2013, Frost & Sullivan awarded GridPoint with the Customer Value Leadership Award in Building Energy Management Solutions, and Groom Energy selected GridPoint as a top ten Enterprise Smart Grid Leader out of 200 providers.