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.