EnerNOC funded the Series A round of financing of San Francisco-based Genability, a software company that licenses its database of electricity tariffs for use with third-party products such as energy intelligence software (EIS).
EnerNOC says by connecting Genability’s tariff engine to its EIS applications, businesses will be able to see energy savings articulated in dollars instead of kilowatt hours.
In addition to providing an undisclosed amount of Series A funding, EnerNOC signed a licensing agreement, which gives it certain exclusive rights to Genability’s technology for EIS offerings that serve the commercial, institutional and industrial sector.
EnerNOC Chairman and CEO Tim Healy will join Genability’s Board of Directors.
Genability says it’s working on a new product – Verified By Genability – which will provide an independent assessment of potential electricity cost savings coupled with a monthly report on what was actually saved.