EnerNOC acquires Baltimore firm
EnerNOC Inc., a Boston company in the energy-management business, said today that it paid $4.75 million to buy South River Consulting LLC, a privately held Baltimore firm focused on energy procurement and risk management services.
EnerNOC uses technology to automate the so-called demand response process for electricity utilities by signing up commercial and industrial companies to conservation programs; during peak demand periods, such as hot summer days, EnerNOC uses its technology to remotely curtail the electricity consumption of companies that have signed onto the program as a way to lower the likelihood of brownouts and outages.
EnerNOC and South River have previously collaborated in helping mutual clients, and EnerNOC said that the integration of South River's wholesale market knowledge and technology will strengthen the portfolio of energy-management solutions it can offer to customers.
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(By Chris Reidy, Globe staff)
