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GridPoint and SRE Sign Acquisition Agreement
ARLINGTON, VA – Jan. 18, 2010 − GridPoint, Inc., an established leader in smart energy solutions for consumers and producers of energy, and Standard Renewable Energy (SRE), a leading provider of energy efficiency and renewable energy solutions, today announced that the companies have entered into an agreement for GridPoint to acquire SRE. GridPoint expects to close the transaction in the first quarter of 2010, subject to customary closing conditions.
“GridPoint solutions empower utilities, businesses and consumers to optimize the production and consumption of electricity,” said Peter L. Corsell, CEO, GridPoint. “SRE’s expertise in renewable energy integration solutions supports our vision for products and services that deliver a more efficient and clean 21st century power system.”
The acquisition of SRE would enhance GridPoint’s existing renewables integration software offerings and augment GridPoint’s commercial and industrial sub-metering and energy management product suite with additional renewables delivery and integration products and services capabilities. SRE would also expand GridPoint’s base of residential, commercial and industrial, and government customers.
“We are proud to become part of the GridPoint team,” said John Berger, CEO, Standard Renewable Energy. “SRE enables our customers to take control of their energy costs by providing turnkey solutions from lighting and weatherization to solar and wind alternatives. By bringing these innovative teams together, we are able to provide greater and deeper value to our customers, partners, and business owners across the nation.”
About Standard Renewable Energy
Founded in 2006, Standard Renewable Energy (SRE) is the nation’s largest Distributed Energy Services Company (DESCO) and leading provider of energy efficiency and on-site renewable energy solutions for homes, businesses and government entities. Products and services include solar and wind energy systems, energy monitoring services, energy audits, high-efficiency heating and cooling products, high efficiency insulation and lighting, solar window film, and more. For further information, visit www.sre3.com
GridPoint is committed to building a clean, efficient energy future. We empower key stakeholders in the energy ecosystem with the visibility and control required to more efficiently consume, generate and distribute energy. Our smart energy solutions consist of hardware, software and services that integrate, aggregate and manage sources of energy consumption, generation and storage. An enterprise-class platform provides a shared foundation for our products, creating a common point of integration, asset provisioning and real-time management. GridPoint customers include Fortune 100 retail and restaurant chains, leading North American utilities and thousands of residential energy consumers.