C3 Acquires Efficiency 2.0, Creating Integrated Energy Efficiency SaaS Software Solution for the Utility Industry
MAY 1, 2012 - 08:00 ET
Market Response - Additional Quotes about the Acquisition
Comprehensive Software Solution Allows U.S. Utilities to Achieve Mandated Energy Efficiency Targets
SAN MATEO, CA--(Marketwire - May 1, 2012) - C3, a provider of enterprise-class energy management SaaS software solutions, today announced that it has acquired Efficiency 2.0, a SaaS software company that delivers customer-facing portals that allow utilities to meet their residential and small business energy efficiency targets.
C3 provides energy efficiency software SaaS solutions for medium and large commercial and industrial corporations and U.S. utilities. Efficiency 2.0 provides SaaS energy efficiency web-portals and energy efficiency programs to utilities for the residential and small/medium business customer segments. The combination of the two offerings will represent the first integrated family of energy efficiency solutions that serve all of a utility's customer segments.
The U.S. market for energy efficiency solutions to meet the mandated and voluntary requirements of the utility industry is estimated to be $6.8 billion in 2011,i and could grow to $12.4 billion by 2020.ii The Efficiency 2.0 acquisition will allow C3 to better serve this market opportunity.
"C3 and Efficiency 2.0 have been independently experiencing very rapid growth," said Ed Abbo, President and CTO, C3. "Our respective customers have been very clear that they require an integrated energy efficiency SaaS solution to meet their pressing energy mandates. This business and technology combination is in response to market demand. We believe that C3 is now uniquely positioned to meet this growing market requirement."
"This acquisition changes the competitive landscape in the market for utilities-focused energy management solutions," said Warren Wilson, Lead Analyst, Energy and Sustainability Technologies, Ovum. "Utilities face growing pressure to help customers reduce overall energy consumption, but different segments of the market have sharply differing needs. By acquiring Efficiency 2.0, C3 drives towards a solution with a single architecture and UI that addresses all segments of the market."
"Through this combination, C3 offers utilities a single source for residential, small/medium business and large commercial and industrial energy efficiency solutions. The C3 SaaS solutions will help utilities achieve their energy savings targets and increase customer satisfaction across all customer segments at a low total cost and risk," said Saul Zambrano, Sr. Director, Products Group, Customer Energy Solutions, Pacific Gas and Electric Company.
"C3 is a recognized leader in delivering enterprise-class energy management SaaS software solutions to mid-to-large size companies and utilities. Efficiency 2.0 has been serving the utilities' residential and small/medium business segments, so the combination of companies is a logical, powerful fit," said Tom Scaramellino, founder and CEO, Efficiency 2.0. "We are delighted to join forces with the experienced C3 leadership team, which not only has a bold vision for the energy industry, but also a long track record of delivering customer value through best-in-class software solutions."
Efficiency 2.0's mission has been to provide consumer and small business energy portals to empower millions of households and small businesses to reduce energy consumption. Using Efficiency 2.0, utility customers have saved over 14 million kilowatt-hours. Efficiency 2.0 generates verified energy savings for utilities through an online customer portal and an integrated family of consumer marketing programs. Efficiency 2.0/C3 SaaS energy solutions have fourteen utility customers, including Constellation Energy, Pacific Gas and Electric Company, Southern California Edison, and Western Massachusetts Electric Company.
Energy efficiency standards mandate that utilities meet energy reduction targets that are substantial today and significantly increasing over time. Utilities are struggling with a complex patchwork of vendor and homegrown tools, which can be inefficient and costly to deploy and maintain. By contrast, C3 now delivers a comprehensive solution that offers a single point of integration and a consistent user experience. Utilities can standardize on an energy efficiency platform that is easy to implement, adopt, and support. All customers -- residential, small, medium, and large businesses -- benefit from tailored insights and actionable recommendations to reduce energy use and save money.
"Energy efficiency offers a vast, low-cost energy resource for the U.S.," said Dr. Kristina Johnson, former Under Secretary at the U.S. Department of Energy. "C3's integrated software solution represents an important step forward in helping utilities realize the full potential of energy efficiency."
C3 provides software solutions that enable organizations to predict, optimize, and control their energy usage in order to reduce cost, risk, and environmental impact. Customers include major utilities and corporations such as Adobe, Cisco, Dow, General Electric, and Pella Corporation. C3 won the GoingGreen Global 2011 "Company of the Year" award and the "Award of Excellence" from the Platts Global Energy Awards. C3 was also recently named a "Top 10 Vendor to Watch" by Groom Energy, a leading analyst firm.
C3 and Efficiency 2.0 are combining operations immediately. Located in New York City, Efficiency 2.0 will become a fully integrated business unit of C3. Tom Scaramellino will serve as its Senior Vice President and General Manager.
C3 provides an integrated family of energy management SaaS software solutions that enable organizations to reduce energy cost, risk, and environmental impact. C3 solutions are currently in use at utilities, major manufacturers, technology companies, and municipalities. For more information, please visit www.C3Energy.com.
i Wallace, Patrick. "State of the Efficiency Program Industry," Consortium for Energy Efficiency, 2012.
ii Barbose, Galen. "The Shifting Landscape of Ratepayer-Funded Energy Efficiency in the U.S.," Lawrence Berkeley National Laboratory, 2009.
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