Customized Energy Solutions buys Seattle power-demand adviser
Customized Energy Solutions, a Philadelphia energy consulting and services firm, announced Thursday that it is acquiring Powerit Solutions, a Seattle company that helps businesses reduce energy costs by managing power demand.
Customized Energy Solutions, a Philadelphia energy consulting and services firm, announced Thursday that it is acquiring Powerit Solutions, a Seattle company that helps businesses reduce energy costs by managing power demand.
The firms use sophisticated software to help clients to shift electricity loads to take advantage of regional wholesale power markets, which incentivize users to reduce demand during peak periods, a practice known as demand response.
"With our acquisition of Powerit, CES has taken a huge step toward offering one of the industry's most complete demand-response services," Stephen Fernands, Customized Energy Solutions' founder and president, said in a statement.
The purchase price was not disclosed.
CES was founded in 1998 by Fernands, a graduate of Pennsylvania State University and Drexel University's business school. It has 121 employees, including 76 based in its Center City headquarters. The company has offices in Mexico and Japan, and in seven North American cities.
In 2010, it opened an office in India, where it says it is pioneering in exploring integration of technologies such as energy storage, microgrids, and smart grids to Indian consumers.
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