McKinstry Spins Off Energy Management Software
McKinstry announced the sale of its Enterprise Energy Management (EEM) software to Energy Hippo, a company that is run by former McKinstry employees and contractors – many of whom came to McKinstry as part of its acquisition of EEM Suite from Itron in 2010. That purchase coincided with the growth of McKinstry’s work consulting with building owners and operators to make facilities more energy efficient.
The software, which McKinstry has been using since 2007, enables it to monitor, analyze and report on buildings’ energy and water usage. McKinstry will license EEM from Energy Hippo and continue to use it as part of its energy-management offerings.
McKinstry says the divestiture allows it to focus on its core competency of serving clients as advisors on building systems, operations and energy efficiency. Nitin Manchanda, CEO of Energy Hippo, says the company will advance the EEM software.
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