GridPoint

GridPoint is an American clean technology company based in Reston, Virginia, that provides energy management and sustainability services to enterprises and government agencies, such as electric utilities.[1][2][3][4][5]

GridPoint
Founded2003 (2003)
HeadquartersReston, Virginia
Roanoke, Virginia
ProductsEnergy management systems
Energy management software
Software-as-a-Service
Utility load and storage management software
Utility customer engagement platforms
Websitewww.gridpoint.com

GridPoint services include building management systems, equipment-level submetering and monitoring hardware, software analytics, and related energy management services.

History and growth

GridPoint was founded in 2003 by Peter L. Corsell.[6][7] Through its early growth and into 2009, GridPoint's Smart Grid Platform provided an intelligent network for utilities to integrate load measurement and control devices, energy storage technologies, and renewable energy sources into the electric grid.[8][9][10]

In 2009, the company began utilising the data and analytics research and knowledge from its utility-facing smart grid technologies to develop tools to assist large energy consumers, particularly in the enterprise and government sectors, in managing their energy consumption.[11][12][13][14]

Later that year, GridPoint acquired ADMMicro, a developer of energy management systems for the commercial and industrial (C&I) sector and Lixar, a cloud-based energy management software technology company.[15][16][17][18][19]

In 2013, former Berkshire Hathaway executive Todd Raba joined GridPoint as CEO. Raba had previously run the Berkshire Hathaway companies Johns Manville and MidAmerican Energy Company.[20][21][22][23]

In 2016, Mark Danzenbaker became GridPoint's CEO. he had been with GridPoint since 2009.

In 2018, GridPoint partnered with Shell and Sparkfund to launch a new smart building subscription solution for commercial businesses.[24]

In October 2019, GridPoint announced an investment by Hannon Armstrong which allows the company to offer its energy management platform as an all-inclusive service, requiring zero capital down with a monthly pricing structure.[25]

GridPoint has raised over funds from investors including Goldman Sachs, Shell, Fortress Investment Group, New Enterprise Associates, I Squared Capital, QVT Financial, TOMS Capital, Twenty First Century Utilities, and Kensington Capital Partners.[26]

Technology and services

GridPoint's integrated energy management solution includes hardware, software and services that collect data about equipment-level energy consumption and building environmental conditions, aggregate and analyze that data and then communicate what actions can be taken to reduce energy consumption and carbon emissions, improve operational efficiency and capital utilization and help ensure business continuity.[27][28]

Energy management hardware

GridPoint's real-time controllers manage lighting schedules and HVAC (heating, ventilation and air conditioning) temperature setpoints across a network of facilities. Equipment-level submeters measure circuit-level power consumption for equipment such as individual HVAC units, chiller boiler systems, lighting, refrigeration, kitchen equipment, plug loads and signage and monitoring devices collect environmental data such as temperature, humidity and CO2 levels. Captured data is then fed into the GridPoint Energy Manager software platform.

Energy management software

GridPoint's energy management software platform, GridPoint Energy Manager, is a cloud-based data aggregation and analytics service that presents equipment-level energy consumption and building environmental information through SaaS-based dashboards, reports and alarms.[29] The software platform can be used with either GridPoint equipment or third-party hardware via open, standards-based public interfaces. The software platform also includes demand response functionality and distributed energy resources integration.

Energy management services

GridPoint's energy management services include energy advisory services, advanced reporting, custom savings analyses, alarm management, facility triage, equipment diagnoses and training.

Utility solutions

GridPoint's current utility solutions include enterprise energy management and submetering systems to support utilities' commercial and industrial customers by providing information about energy consumption patterns and load and storage management solutions that capture and dispatch energy by storage assets located in a utility's transmission and distribution system. For residential utility customers, GridPoint provides software-based dashboards that provide information about energy consumption, predicted energy usage and carbon impact.

GridPoint was designated as a 2008 Technology Pioneer by the World Economic Forum.[30]

GridPoint's institutional investors include Goldman Sachs and New Enterprise Associates (NEA).[31][32]

See also

References
  1. "Movers & Shakers Interview with newly appointed CEO, Todd M. Raba, GridPoint, Inc". Frost & Sullivan. November 7, 2013.
  2. "Wendy's franchisee slashed costs with energy management system". Chain Store Age. December 28, 2013.
  3. "USPS Inks $28.7M Deal to Cut Energy Costs". Environmental Leader. May 25, 2010.
  4. "Postal Service Turns to GridPoint to Cut Energy Use". Washington Post. May 24, 2010.
  5. "GridPoint Gets into Solar Integration with SMUD, ComEd". Greentech Media. November 3, 2009.
  6. "Businessweek Tech Pioneers". Bloomberg Businessweek. November 28, 2007. Archived from the original on December 2, 2007.
  7. Esther Dyson (June 2005). "Dr. Market: Or, How I Learned to Stop Worrying and Lose Control" (PDF). CNET.
  8. "Innovators Under 35, 2008". MIT Technology Review. August 2008.
  9. "GridPoint One of Five 'Companies to Watch' in 'Utilities Get Enlightened' Trend in Clean Energy Trends Report 2007". Intelligent Utility. April 11, 2007.
  10. "Success Story: GridPoint". Master Plans Blog. November 3, 2008.
  11. "Thought Leaders: Energy Management Systems and the Smart Grid". Smart Grid Insights by Zpryme Research. June 4, 2013. Archived from the original on October 18, 2013. Retrieved October 17, 2013.
  12. "Smart-grid companies feel growing pains". CNET. June 2, 2010.
  13. "GridPoint Takes Aim at Energy Management". Navigant Research. November 5, 2012.
  14. "GridPoint Refocuses on Enterprise Energy Management". The Washington Post. October 4, 2012.
  15. "GridPoint Buys ADMMicro, Strengthens Commercial and Industrial Presence". Clean Edge. November 10, 2009.
  16. "GridPoint Acquires ADMMicro". Sustainable Business. November 10, 2009.
  17. "GridPoint Acquires ADMMicro, Extending Smart Grid Solutions to Commercial & Industrial Customers". Reuters. November 9, 2009. Archived from the original on December 3, 2013.
  18. "GridPoint buys energy business from Lixar". Washington Business Journal. June 29, 2009.
  19. "GridPoint Acquires Lixar's Energy Business, Enhances Smart Grid Software Platform and Establishes Canadian Presence". Reuters. June 29, 2009. Archived from the original on February 2, 2011.
  20. "GridPoint Appoints Board Member Todd Raba CEO". Washington Business Journal. October 17, 2013.
  21. "Appointment of Todd Raba as new CEO of GridPoint, Inc. - A crucial turn for the company and the enterprise energy management solutions industry". Frost & Sullivan. October 17, 2013.
  22. "New at the top: To meet Warren Buffett, this outdoorsman didn't stay lost in the woods". The Washington Post. October 27, 2013.
  23. "MidAmerican Energy names Raba president". Mason City Globe Gazette. August 5, 2004.
  24. "Shell Partners With Sparkfund and GridPoint on a New Smart Building Subscription Service".
  25. "GridPoint and Hannon Armstrong Announce Transformational Pricing Strategy to Expand Commercial Energy Efficiency Opportunities". www.businesswire.com. 2019-10-02. Retrieved 2020-03-05.
  26. writer (2006-09-27). "Goldman Sachs Powers Up GridPoint". DealBook. Retrieved 2022-12-20.
  27. "GridPoint Software Displays, Analyses, and Controls Energy Endpoints". Solar Novus Today. June 28, 2011.
  28. "GridPoint Enables Cost Savings in Retail Sectors with Data-Driven Approach to Energy Management". Greenech Lead. November 13, 2012.
  29. "GridPoint Takes Energy Management to the Cloud". Greenbang. July 25, 2011.
  30. "GridPoint Selected by World Economic Forum as 2008 Technology Pioneer". Reuters. November 29, 2007. Archived from the original on December 2, 2013.
  31. "Goldman Sachs Powers Up GridPoint". New York Times, September 27, 2006.
  32. "GridPoint Takes $120 Million". New York Times, September 24, 2008.
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