Prior to joining Foundation Capital, Adam was president of Excite@Home's 1,400-person Subscriber Networks division, as well as co-founder, president, and CEO of Catapult Entertainment. Neil will provide details on our financial results, but from an operating perspective, I like what we achieved in the second quarter. We believe this is the prudent course given the size of the third quarter relative to the full year. More recently, EnerNOC was recognized with a 2012 Platts Global Energy Award for Industry Leadership, and Tim H was honored as CEO of the Year by the Massachusetts Technology Leadership Council. "Grids are more volatile than ever, and the energy industry needs a trusted source of insights to manage risk and prevent blackouts. Prior to Lighthouse, Ned held various senior management positions at Avid Technology from 1993 to 1999, including General Manager of the Office and Consumer Group, Senior Vice President of Business Development, and Treasurer. Carbon Recycling: Microbes, Jet Fuel and Leggings. There may be some lumpiness from quarter-to-quarter and that's principally because we still have a services business which comprises roughly $15 million of our $75 million enterprise business and there is some lumpiness in the projects related to that service business from quarter-to-quarter. Jeff St. John June 22, 2017 The expiration of the contract I just mentioned resulted in high utility churn rates for the quarter. That's when we'd start to potentially see us getting down to a smaller megawatt portfolio because in the interim we will still have an opportunity to mix our portfolio with capacity performance as well as the current baseline products that exist. David . So it's a multi-year transformation that is happening in our market and I think that's driving the utilities to start really ramping up their engagement with customer activity around engagement, demand response, energy efficiency. Revenue increased by 65% year-over-year including a doubling of our enterprise revenue and we posted an overall gross margin of 54%. When discussing implementing a similar practice at Ayer Labs,Alex Wright-Gladsteinnotes: Be really careful about hiring, dont just hire fast as you need to fill a role, make sure its the right person, because firing sucks. In 2007, he led EnerNOC's initial public offering, which was named IPO of the Year by the Association for Corporate Growth Boston and Mass High Tech magazine, and received the Ernst & Young Entrepreneur of the Year Award in New England. Tims final words of advice for the event trust your gut. These forward-looking statements made today represent our views as of August 6, 2015. So I think there is a lot going on in the ecosystem. We will go to the line of Angelica Jarvenpaa and [Operator Instructions]. Again, we're going to manage a diversified portfolio, this isn't the only place that we're having exciting demand response activity take place. So we're looking out four or five years and as we mentioned, we believe that we had the foresight, five to six, seven years to invest in technology and business processes that have put us ahead of the pack when it comes to being able to adapt to continued evolution of how demand response is operated and measured in these markets and we've been very effective in continuing to meet the needs of customers and meet the needs or I should say the compliance requirements of the grid operators that we serve. Also in the quarter, we expanded our demand response engagement with Japanese utilities; our Japanese JV doubled the size of its portfolio with Japan's largest utility, TEPCO, and was awarded initial pilots with the country's second and third largest utilities. Speaking of the roller coaster ride of working at a start-up, he noted: It took about five years of R&D. You may recollect that on last quarter's call, we noted that customer and site counts could decline as we right-size our portfolio following the significant increase in customers and sites that accompanied the World Energy Solutions acquisition. We believe that between $5 million and $10 million of our 2015 net income is at risk if EPA's motion is not successful and the mandate takes effect sometime this year. Enel has been acquiring companies to get there, starting with Demand Energy in January, and now EnerNOC. And it makes me really proud. Tim Healy. During this call, we will refer to non-GAAP financial measures, including non-GAAP income and loss, non-GAAP income and loss per share, free cash flow, and adjusted EBITDA. The last publicly traded U.S. demand response company standing is going private. I would like to begin by discussing some recent highlights which you can see on Slide 3. That would keep us on solid financial footing which we believe is the most prudent way to attack the large and nascent EIS market. And we're excited to see this starting to take shape. And how does the kind of the payment structure work and would you look to work with other solar companies such as may be Sun Edison for solar who are also involved in big commercial projects? And I would just like to ask first of all, could you talk a little bit about any expectations you have for the PJM auction later this month given the new performance criteria this year? We're seeing that there is a dramatic increase in our effectiveness with working with our customers to ensure that we identify what those customers are trying to achieve in terms of their customers' success objectives, making sure we identify those early on. degree from Northwestern Law and a B.A. It isn't as familiar with the type of metrics that drive this part of our business as they are with what has driven our growth over the past seven or eight years. If granted, the stay would help ensure grid reliability through this summer and next winter and provide an opportunity for the EPA to address the Court's decision through a revised rule. Eric ushers in a new approach to selling software to our customers and is having a significant impact on our go-to-market activity. Prior to EnerNOC, Tim worked in the Energy Technology Laboratory for Northern Power Systems, Inc., and held positions with Merrill Lynch, International Fuel Cells (now UTC Fuel Cells), and the venture capital firm Commonwealth Capital Ventures. His advice: Build a great team with people who complement your thinking. Enterprise gross margin in the quarter was roughly 63%, up from approximately 60% in Q1, and 47% in the second quarter of 2014. Q2 GAAP net loss was $19 million or $0.66 per diluted share compared to a net loss of $27 million or $0.96 per diluted share in the second quarter of 2014. And so whether it is some of the initial exploratory work that we are doing with ERP vendors, some of the work that we are doing the CRM vendors, we see our ability to provide very targeted, very specific value proposition in our component of the information layer in a key foundational area that is now subject to much more active management activity for the enterprise, bodes well for us as we think about other partners. That program worth almost $4 million annually was not renewed because the utility had excess capacity and decided not to continue with demand response. These are non-GAAP financial measures that are not prepared in accordance with generally accepted accounting principles. Tim Healy brings a career of senior executive experience in energy, utilities and demand response solutions. Former EnerNOC Chairman and CEO, Tim Healy, Among New Entering text into the input field will update the search result below. Keep your funding profile updated with new funding raised/committed and message interested investors with any new milestones achieved. "The company is at an exciting stage to shape the market to ensure the energy transition happens correctly. Shifting gears to our grid operator business, we continue to execute on our strategy to diversify our grid operator revenue through international expansion and we're excited about the progress we've made in South Korea which is expected to be our third largest international market this year. "After my first board meeting at EnerNOC, I had people giving me 10-20 ideas on what we should do. No securities transactions are executed or negotiated on or through the EquityNet platform. Timothy Healy owns about 1,353,907 units of Enernoc Inc common stock. "The energy industry has underinvested in advanced technologies for decades. Sure, happy to. Software companies like EnerNOC come in; they've got a great software. It is a multistep process that we are asking our team to take and be very disciplined with. David has pioneered efforts to make customer participation in these markets more effective through improved market rules and technologies. Since EnerNOC, Tim has dedicated his time to changing the way the world uses energy. However as you can see on Slide 6, we achieved a negative 4% net churn rate, driven by significant negative net churn for our enterprise EIS platform. Additional information concerning these Risk Factors is contained in our filings with the SEC, including our annual report on Form 10-K and quarterly reports on Form 10-Q available at www.sec.gov. You need to be prepared for the longer journey and dont go alone. And so we're optimistic. Thanks. Okay, great. Packetized Energy provides utilities in the U.S. and Canada with energy flexibility software and IoT solutions and is headquartered in Burlington, Vermont. Any sense of what the, I guess, more substantial barriers to adoption are for EIS software and how you are working to identify overcoming those? Thats what you need to do as the Founder and CEO of your company. The healthy pipeline has led many analysts to tag EnerNOC's shares as undervalued. Throw away 80% of what was just said and find the 20% that has all of the value. If you have an ad-blocker enabled you may be blocked from proceeding. Christian Weeks is CEO at enVerid Systems, a company which makes air purification and efficient HVAC modules, after having spent nearly 10 years atEnerNOC. Discover Tim Healys Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Be proactive in messaging many investors and include a simple way for them to connect with you for a web meeting or call, such as a Calendly link. Our next question comes from the line of Monika Garg with Pacific Crest. Policy & regulation are aligning with renewables cost declines to make projects more profitable and portfolios more sustainable. Tim Healy | Greenbiz So, how much is Tim Healy worth at the age of 69 years old? In 2014 we repurchased $30 million of stock in conjunction with our convertible debt offerings. EnerNOC's (ENOC) CEO Tim Healy on Q3 2015 Results - SeekingAlpha Okay, great. As a reminder, ladies and gentlemen this conference is being recorded. Turning to margin, we posted consolidated gross margin of 54% in the second quarter, which represented a significant improvement over the 37% we achieved in the second quarter of last year. Matthew Healy was born in London, England in April 1989. EnerNOC | EquityNet Reporter covering the green technology space, with a particular focus on smart grid, demand response, energy storage, renewable energy and technology to integrate distributed, intermittent green energy into the grid. At this time all participants are in a listen-only mode. The wind industry is in a period of intensifying competition and shifting demand that requires a multi-faceted view of the global market. Christian Weeksalso iterated on the importance of team building, especially in a startup environment. What's more, its combination of demand response with software for energy procurement and management covers both utility-facing and customer-facing parts of the revenue equation. 2005-2023 EquityNet Inc. All Rights Reserved. These are the people that will make you sharper and balance your perspective Christian Weeks, CEO of enVerid Systems, The reality is, youre going to have valleys of death and multiple mountains beyond that first peak. Ladies and gentlemen, good morning. Tim Healy co-founded EnerNOC in 2001 and serves as its Chairman and CEO. Im looking forward to helping Packetized Energy bring those insights directly to regulators and decision-makers.. We are coming in there with something that is incredibly important but has not been managed or allocated existing budget. Tim recalled a conversation during the early days of starting EnerNOC, when a new employee disclosed some uncertainty in their career choice to work at the cleantech start-up. Our utility revenue increase modestly year-over-year to $13 million. Now let me share with you our outlook for the third quarter and the remainder of the year. Tim co-founded EnerNOC in 2001 and served as its Chairman and CEO until its sale to Enel in 2017 for over $300M. "To have Tim, the pioneer in demand-response technology, and Catherine, a dominant figure in global commodities, join our board only solidifies the important work Amperon is doing. So, how much is Tim Healy worth at the age of 71 years old? View Tim Healy's profile on LinkedIn, the world's largest professional community.

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