Trading on the NASDAQ Global Market, Comverge Inc. is a provider of clean energy solutions. They are a leading Demand Response and advanced metering company dedicated to providing the best technology and services to the electric utility industry. Headquartered in East Hanover, New Jersey, Comverge has offices in Duluth, Georgia; Newark, California; and Kennett Square, Pennsylvania.
Comverge Inc.’s solutions improve grid reliability and supply electric capacity cost effectively. They accomplish this by reducing base load and peak load energy consumption. Formed from the Utility Solutions Division of Lucent Technologies and the Control Systems Division of Scientific Atlanta, the company has over 25 years of experience creating innovative demand response solutions and more than 15 patents in the field.
Comverge has more than 500 utility clients in the United States and approximately 4.5 million devices installed. Their “Pay for Performance” gives enterprises capacity that can reduce emissions, eliminate line losses, increase reliability, and put on hold the need for power generation and transmission. Comverge develops and delivers demand response, smart metering, advanced metering initiatives and advanced meter reading, as well as other monitoring and control hardware and software. These help their customers to measure, manage, shift, and reduce energy consumption in real-time.
Comverge’s services for implementing Demand Response programs include marketing, customer recruitment, measurement, and verification. These services are available as full turnkey and/or pay-for-performance offerings and are customizable to a utility’s needs. Their products include “smart” thermostats, home-energy automation systems, advanced under-glass metering gateways, and industrial facilities controls.
Comverge has residential pay-for-performance Demand Response contracts, with programs at PacifiCorp, San Diego Gas & Electric, ISO New England, and the Public Service Company of New Mexico. They also have a commercial and industrial VPC contract from Pacific Gas and Electric, and manage different aspects of programs at Gulf Power and Commonwealth Edison.
On Monday of this week, Comverge announced they are partnering with TransCanada Power Marketing Ltd. to provide energy management services to reduce energy use and costs. TransCanada is a leading electric retailer based in Westborough, Massachusetts. Comverge will extend additional energy services to TransCanada for their commercial and industrial customers.
Comverge and TransCanada will provide various product offerings to reduce energy costs during peak times when energy prices are high or there is congestion on the electricity grid. In addition, these demand response programs will compensate customers for curtailing load.
This is one example of Comverge working with leading companies in the advanced metering, commercial and industrial facilities operations, and temperature control industries. Collaborations such as these have helped Comverge bring new products to market. They are always evaluating new collaborations and alliances to further shareholders’ return on investment.
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