WegoWise Acquires Melon Power to Expand Services to Commercial Buildings
Strategic acquisition bolsters commercial building capabilities in WegoWise
BOSTON, Dec. 18, 2012
BOSTON, Dec. 18, 2012 /PRNewswire/ --WegoWise, a leading building performance
analytics provider, today announced that it has reached an agreement to
acquire Melon Power, an award-winning analytics platform for the commercial
building sector. WegoWise will extend its platform with Melon Power's
methodology, which leverages Green Button and other utility data to help
commercial buildings affordably and easily receive Energy Star benchmarks. The
acquisition is expected to close in the first quarter of 2013.
"Melon Power is widely regarded as a leader in using Green Button data in
creative ways," said Andrew Chen, CEO of WegoWise. "We have been following
Melon Power at every stage of its progress and its addition brings valuable
domain expertise and technical competencies into the WegoWise platform. It was
a natural decision to combine our collective innovations in the multifamily,
single-family and commercial building markets to offer a cohesive and
affordable toolset to improve efficiency in all types of buildings."
As part of the acquisition, WegoWise will acquire all assets of Melon Power,
which placed second in the Department of Energy's 2012 Apps for Energy
Challenge and was a semifinalist at the 2012 Cleantech Open Mid-Atlantic. Key
members of Melon Power's team will join WegoWise in senior-level positions in
analytics and development, including Founder Craig Isakow, a building-industry
veteran with experience at the Department of Energy and Johnson Controls. The
acquisition will also establish a Washington D.C. location for the
"WegoWise has served as a model for Melon Power as we've grown, and we're
pleased to become a part of their mission to provide building owners with
actionable utility data analytics at an affordable price," said Isakow,
Director of Commercial Solutions at WegoWise and former Melon Power CEO.
"WegoWise's technological expertise and strong commercial channels will enable
Melon Power's team to fulfill their mission to deliver easy Energy Star
benchmarking to all commercial building managers. Our existing customers and
partners will benefit from WegoWise's development experience and relationships
WegoWise's acquisition of Melon Power builds on recent partnerships with the
USGBC and the Green & Healthy Homes Initiative, which marked the company's
expansion from multi-family housing into single-family building offerings. The
acquisition accelerates WegoWise's entry into the commercial building
efficiency space, expanding the reach of the company's tracking, benchmarking
and business intelligence offering.
The WegoWise platform works by automatically collecting utility data from a
portfolio of buildings, then normalizing and comparing those buildings by
energy intensity and building characteristics. Visually compelling charts and
graphs help users immediately target retrofits and verify building
performance. Since 2010, WegoWise has developed the world's largest
multifamily utility database, covering 11,024 buildings representing 176,292
residential units and 644,000 utility bills over more than 164.3 million
square feet of space across the United States and Canada.
WegoWise provides an industry-leading web-based utility analytics platform for
the building-performance industry. Bridging big data and energy efficiency,
WegoWise distills large aggregations of energy and water data into useful,
actionable information for building owners, managers, energy auditors and
building efficiency programs, enabling them to automatically track, understand
and benchmark building performance, and make better efficiency investment
decisions. WegoWise's platform regularly identifies impressive opportunities
for cost savings, as inefficient buildings typically pay four times the
utility costs of efficient buildings. Learn more at wegowise.com.
Contact: Zoe Fishman of Antenna Group, +1-415-977-1929,
email@example.com, for WegoWise
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