East Hanover, NJ, U.S.A. --- (METERING.COM) --- June 27, 2007 – Comverge, Inc., a provider of clean energy solutions through demand response, has entered into a definitive agreement to acquire Enerwise Global Technologies, creating the largest demand response provider in North America with over 1400 megawatts (MWs) of managed capacity.
With the addition of Enerwise, Comverge will provide a comprehensive suite of demand response and energy management solutions for all utility customer classes including residential, small to large commercial, institutional, and industrial customers. The acquisition further solidifies Comverge's position at the convergence of the clean energy marketplace through the management and registration of an additional 1049 MWs of renewable energy in several states that have adopted renewable portfolio standards across the nation. The combined company will own three energy network operations control centers in Newark, California, East Hanover, New Jersey and Kennett Square, Pennsylvania to operate its national network of programs.
"The clean energy marketplace is evolving rapidly and Comverge is positioned to meet the challenges of our clients by providing demand response and energy management solutions to all customer classes. This acquisition speaks of our commitment to the growing demand response industry and our ability to provide significant value to our many existing as well as new clients in North America," said Robert M. Chiste, Chairman, President and CEO of Comverge.
Enerwise Global Technologies has been providing managed energy services to commercial and industrial customers for over ten years. Recognized as the leading aggregator of demand response for PJM Interconnection, the regional transmission organization covering 13 states in the Mid-Atlantic and North Central regions, Enerwise has a philosophy centered around providing added value to its customers through a variety of managed service offerings including demand response, energy analytics, power systems technology and energy management. Currently, Enerwise provides 444 MWs of demand response capacity in open market programs, manages an additional 383 MWs of capacity by providing its customers with the tools and systems to enable participation in demand response programs, and facilitates the registration of 1049 MWs of renewable energy.
Through this acquisition, Comverge will form the Enerwise Group which will function as a division of Comverge and operate collaboratively with the Smart Grid Solutions Group and the Alternative Energy Resources Group. As a combined company, Comverge will directly own or operate 948 MWs of demand response capacity, provide tools for the operation of 453 MWs of energy, and manage the registration of 1049 MWs of renewable energy, in addition to having delivered over 4.5 million demand response devices to our utility customer base for the equivalent of 6000 MWs of capacity.
The Enerwise Group will continue to be led by President and COO, Dean Musser and operate from its offices in suburban Philadelphia.