GridPoint
{{Short description|American energy management company}}
{{advert|date=February 2016}}
{{Infobox company
|logo = GridPointLogo.png
|name = GridPoint
|foundation = {{Start date|2003}}
|location = Reston, Virginia
Roanoke, Virginia
|products = Energy management systems
Energy management software
Software-as-a-Service
Utility load and storage management software
Utility customer engagement platforms
|homepage = {{URL|http://www.gridpoint.com}}
}}
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.{{cite news|title=Movers & Shakers Interview with newly appointed CEO, Todd M. Raba, GridPoint, Inc|url=http://www.frost.com/prod/servlet/exec-brief-movers-feature.pag?mode=open&sid=287422103|newspaper=Frost & Sullivan|date=November 7, 2013}}{{cite news|title=Wendy's franchisee slashed costs with energy management system|url=http://www.chainstoreage.com/article/where%E2%80%99s-savings-%E2%80%A9|newspaper=Chain Store Age|date=December 28, 2013}}{{cite news|title=USPS Inks $28.7M Deal to Cut Energy Costs|url=http://www.environmentalleader.com/2010/05/25/usps-inks-28-7m-deal-to-cut-energy-costs-at-nearly-2300-locations/|newspaper=Environmental Leader|date=May 25, 2010}}{{cite news|title=Postal Service Turns to GridPoint to Cut Energy Use|url=https://www.washingtonpost.com/wp-dyn/content/article/2010/05/21/AR2010052104092.html|newspaper=Washington Post|date=May 24, 2010}}{{cite news|title=GridPoint Gets into Solar Integration with SMUD, ComEd|url=https://www.greentechmedia.com/articles/read/gridpoint-gets-into-solar-projects-with-smud-comed/|newspaper=Greentech Media|date=November 3, 2009}}
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.{{cite news|title=Businessweek Tech Pioneers|url=http://images.businessweek.com/ss/07/11/1129_tech_pioneers/source/10.htm|archive-url=https://web.archive.org/web/20071202230541/http://images.businessweek.com/ss/07/11/1129_tech_pioneers/source/10.htm|url-status=dead|archive-date=December 2, 2007|newspaper=Bloomberg Businessweek|date=November 28, 2007}}{{cite news|author=Esther Dyson|author-link=Esther Dyson|title=Dr. Market: Or, How I Learned to Stop Worrying and Lose Control|url=http://cdn.oreillystatic.com/radar/r1/06-05.pdf|newspaper=CNET|date=June 2005}} 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.{{cite news|title=Innovators Under 35, 2008|url=http://www2.technologyreview.com/tr35/profile.aspx?trid=698|newspaper=MIT Technology Review|date=August 2008}}{{cite news|title=GridPoint One of Five 'Companies to Watch' in 'Utilities Get Enlightened' Trend in Clean Energy Trends Report 2007|url=http://www.intelligentutility.com/article/07/04/gridpoint-one-five-companies-watch-utilities-get-enlightened-trend-clean-energy-trends-report-2007?quicktabs_11=1&quicktabs_4=1|newspaper=Intelligent Utility|date=April 11, 2007}}{{cite news|title=Success Story: GridPoint|url=http://www.masterplans.com/blog/SuccessStoryGridPoint/|newspaper=Master Plans Blog|date=November 3, 2008}}
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.{{cite news|title=Thought Leaders: Energy Management Systems and the Smart Grid|url=http://smartgridresearch.org/news/qa-with-gridpoints-mark-straton-on-energy-management-systems-and-the-smart-grid-zpryme-reports/|newspaper=Smart Grid Insights by Zpryme Research|date=June 4, 2013|access-date=October 17, 2013|archive-url=https://web.archive.org/web/20131018021245/http://smartgridresearch.org/news/qa-with-gridpoints-mark-straton-on-energy-management-systems-and-the-smart-grid-zpryme-reports/|archive-date=October 18, 2013|url-status=usurped}}{{cite news|title=Smart-grid companies feel growing pains|url=http://news.cnet.com/8301-11128_3-20006463-54.html|newspaper=CNET|date=June 2, 2010}}{{cite news|title=GridPoint Takes Aim at Energy Management|url=http://www.navigantresearch.com/blog/gridpoint-takes-aim-at-enterprise-energy-management|newspaper=Navigant Research|date=November 5, 2012}}{{cite news|title=GridPoint Refocuses on Enterprise Energy Management|url=https://www.washingtonpost.com/business/capitalbusiness/gridpoint-refocuses-business-on-enterprise-energy-management/2012/10/14/8d90f99c-1313-11e2-a16b-2c110031514a_story.html|newspaper=The Washington Post|date=October 4, 2012}}
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.{{cite news|title=GridPoint Buys ADMMicro, Strengthens Commercial and Industrial Presence|url=http://www.cleanedge.com/resources/news/GridPoint%20Buys%20ADMMicro,%20Strengthens%20Commercial%20and%20Industrial%20Presence|newspaper=Clean Edge|date=November 10, 2009}}{{cite news|title=GridPoint Acquires ADMMicro|url=http://www.sustainablebusiness.com/index.cfm/go/news.display/id/19207|newspaper=Sustainable Business|date=November 10, 2009}}{{cite news|title=GridPoint Acquires ADMMicro, Extending Smart Grid Solutions to Commercial & Industrial Customers|url=https://www.reuters.com/article/2009/11/09/idUS177136+09-Nov-2009+BW20091109|archive-url=https://web.archive.org/web/20131203025451/http://www.reuters.com/article/2009/11/09/idUS177136+09-Nov-2009+BW20091109|url-status=dead|archive-date=December 3, 2013|newspaper=Reuters|date=November 9, 2009}}{{cite news|title=GridPoint buys energy business from Lixar|url=http://www.bizjournals.com/washington/stories/2009/06/29/daily17.html|newspaper=Washington Business Journal|date=June 29, 2009}}{{cite news|title=GridPoint Acquires Lixar's Energy Business, Enhances Smart Grid Software Platform and Establishes Canadian Presence|url=https://www.reuters.com/article/2009/06/29/idUS164191+29-Jun-2009+BW20090629|archive-url=https://web.archive.org/web/20110202095814/http://www.reuters.com/article/2009/06/29/idUS164191+29-Jun-2009+BW20090629|url-status=dead|archive-date=February 2, 2011|newspaper=Reuters|date=June 29, 2009}}
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.{{cite news|title=GridPoint Appoints Board Member Todd Raba CEO|url=http://www.bizjournals.com/washington/blog/techflash/2013/10/gridpoint-appoints-board-member-todd.html|newspaper=Washington Business Journal|date=October 17, 2013}}{{cite news|title=Appointment of Todd Raba as new CEO of GridPoint, Inc. - A crucial turn for the company and the enterprise energy management solutions industry|url=http://www.frost.com/c/10077/blog/blog-display.do?id=3096023|newspaper=Frost & Sullivan|date=October 17, 2013}}{{cite news|title=New at the top: To meet Warren Buffett, this outdoorsman didn't stay lost in the woods|url=https://www.washingtonpost.com/business/economy/new-at-the-top-to-meet-warren-buffett-this-outdoorsman-didnt-stay-lost-in-the-woods/2013/10/27/924ffe10-3d83-11e3-b6a9-da62c264f40e_story.html|newspaper=The Washington Post|date=October 27, 2013}}{{cite news|title=MidAmerican Energy names Raba president|url=http://globegazette.com/business/midamerican-energy-names-raba-president/article_79baf043-fcbb-5e4f-8eee-3231640822f3.html|newspaper=Mason City Globe Gazette|date=August 5, 2004}}
In 2016, Mark Danzenbaker became GridPoint's CEO. he had been with GridPoint since 2009.{{citation needed|date=January 2022}}
In 2018, GridPoint partnered with Shell and Sparkfund to launch a new smart building subscription solution for commercial businesses.{{cite web |title=Shell Partners With Sparkfund and GridPoint on a New Smart Building Subscription Service |url=https://www.greentechmedia.com/articles/read/shell-partners-with-sparkfund-and-gridpoint-on-smart-building-subscription#gs.y7kp6VU}}
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.{{Cite web|url=https://www.businesswire.com/news/home/20191002005112/en/GridPoint-Hannon-Armstrong-Announce-Transformational-Pricing-Strategy|title=GridPoint and Hannon Armstrong Announce Transformational Pricing Strategy to Expand Commercial Energy Efficiency Opportunities|date=2019-10-02|website=www.businesswire.com|language=en|access-date=2020-03-05}}
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.{{Cite web |last=writer |date=2006-09-27 |title=Goldman Sachs Powers Up GridPoint |url=https://dealbook.nytimes.com/2006/09/27/goldman-sachs-powers-up-grid-point/ |access-date=2022-12-20 |website=DealBook |language=en}}
Technologies and services
{{More citations needed|1=paragraph|date=April 2024}}
GridPoint offers hardware and software services that collect data about equipment-level energy consumption and building environmental conditions. They also aggregate and analyze data and communicate{{vague|date=April 2024}} what actions can be taken to reduce energy consumption and carbon emissions, improve operational efficiency and capital utilization, and help ensure business continuity.{{cite news|title=GridPoint Software Displays, Analyses, and Controls Energy Endpoints|url=http://www.solarnovus.com/gridpoint-software-displays-analyses-and-controls-energy-endpoints_N3093.html|newspaper=Solar Novus Today|date=June 28, 2011}}{{cite news|title=GridPoint Enables Cost Savings in Retail Sectors with Data-Driven Approach to Energy Management|url=http://www.greentechlead.com/2012/11/13/gridpoint-enables-cost-savings-in-retail-sectors-with-data-driven-approach-to-energy-management/|newspaper=Greenech Lead|date=November 13, 2012}}
=Energy management hardware =
{{Unreferenced|1=section|date=April 2024}}
GridPoint offers controllers to 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 offers an energy management software platform called GridPoint Energy Manager. It 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.{{cite news|title=GridPoint Takes Energy Management to the Cloud|url=http://www.greenbang.com/gridpoint-takes-energy-management-to-the-cloud_18893.html|newspaper=Greenbang|date=July 25, 2011}} The software platform can be accessed using either GridPoint or third-party hardware.{{citation needed|date=April 2024}} The software platform also includes demand response functionality and distributed energy resources integration.{{citation needed|date=April 2024}}
Company reception
GridPoint was designated as a 2008 Technology Pioneer by the World Economic Forum.{{cite news|title=GridPoint Selected by World Economic Forum as 2008 Technology Pioneer|url=https://www.reuters.com/article/2007/11/29/idUS09838+29-Nov-2007+BW20071129|archive-url=https://web.archive.org/web/20131202223417/http://www.reuters.com/article/2007/11/29/idUS09838+29-Nov-2007+BW20071129|url-status=dead|archive-date=December 2, 2013|newspaper=Reuters|date=November 29, 2007}}
GridPoint's institutional investors include Goldman Sachs and New Enterprise Associates (NEA).{{cite web|title=Goldman Sachs Powers Up GridPoint|url=https://dealbook.nytimes.com/2006/09/27/goldman-sachs-powers-up-grid-point/|work=New York Times, September 27, 2006|date=27 September 2006 }}{{cite web|title=GridPoint Takes $120 Million|url=https://dealbook.nytimes.com/2008/09/24/gridpoint-takes-120-million/?_r=0/|work=New York Times, September 24, 2008| date=24 September 2008 }}
See also
References
{{Reflist|30em}}
External links
- {{Official website|http://www.gridpoint.com/}}
{{DEFAULTSORT:GridPoint}}
Category:Energy companies of the United States
Category:Energy conservation in the United States
Category:Software companies based in Virginia