Retroficiency Adds Four Utilities as Clients of Savings Platform

(Bloomberg) — Retroficiency Inc., a closely held provider
of energy-efficiency software, is adding four utility customers
to a base that’s grown to more than two dozen.

The contracts were signed with AEP Ohio, Kansas City Power
& Light Co., Puget Sound Energy Inc. and United Illuminating
Co., Boston-based Retroficiency said in a statement Tuesday. The
terms weren’t disclosed but Chief Executive Officer Bennett Fisher said they’re for one to three years and are worth as much
as “seven figures.”

“We’ve come into the equation to help them analyze all of
those buildings and figure out which buildings to target, and
how to engage customers to drive efficiency and peak-load
reduction changes,” Fisher said in a telephone interview.

A yearlong pilot project with Consolidated Edison Inc. that
examined about 1,000 buildings found 176 gigawatt hours of
efficiency savings, and other utilities are seeking similar
results, Fisher said.

Retroficiency has raised about $7.3 million, with Point
Judith Capital as its top investor.

To contact the reporter on this story:
Justin Doom in New York at
jdoom1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Steven Frank

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