|[May 14, 2014]
C3 Energy Announces Fiscal Year 2014 Results
REDWOOD CITY, Calif. --(Business Wire)--
Energy, a leading provider of Smart Grid Analytics SaaS (News - Alert) solutions
for energy companies, today announced the results that it achieved and
the milestones that it accomplished in the fiscal year ended March 31,
2014. Bookings, defined as guaranteed total contract value, grew by 385%
over the prior fiscal year. The company's cash balance increased by 50%
over the prior fiscal year. The company has no debt.
"In the past twelve months, C3 (News - Alert) Energy has experienced tremendous growth.
These results demonstrate the demand in the marketplace for smart grid
analytics and strong confidence in the C3 Energy Smart Grid Analytics
solutions," said Ed Abbo, President and CTO, C3 Energy. "We believe that
C3 Energy has the right combination of people, partners, technology
platform, and analytics solutions to provide the greatest value to our
customers, and we look forward to continued growth in fiscal 2015."
New customers and contract renewals
C3 Energy's customer list expanded in fiscal year 2014 and now includes
major utilities in the United States, Canada, and Europe. A selection of
new and renewing customers includes:
Baltimore Gas & Electric Company (BGE)
BGE has deployed C3 Revenue Protection™ and C3 AMI Operations™ across
BGE's two million meter smart grid network, to help achieve its goals of
ensuring cost-effective, efficient, and reliable energy delivery. See
May 13, 2014 news
GDF Suez Ecometering
In February 2014, GDF Suez Ecometering selected C3 Residential™ to
provide an online energy information portal for residential customers of
GDF Suez utilities, Electrabel in Belgium and CHP Dolce Vita in France.
It has also selected the C3 Energy Analytics Engine™ to serve as the
analytics platform for its forecasting and demand-side smart grid
Pacific Gas and Electric Company (PG&E (News - Alert))
C3 Energy has been selected by the Pacific Gas & Electric Company, a
utility serving about 15 million customers in Northern and Central
California, to deploy its C3 Enterprise™ energy analytics solution to
support a recently launched, invitation-only energy efficiency program
that ties incentives to savings measured using interval meter data.
PG&E also uses the Business Energy Checkup, powered by C3 Commercial, to
help its small-and-medium-sized business (SMB) customers understand
their energy use and ways they can save. The Business Energy Checkup has
been live since 2012 to help customers visualize their energy usage and
spend, complete an energy profile of their business, receive tailored
energy savings recommendations, and create energy savings plans.
In May 2014, Hydro Québec selected the C3 Residential and C3 Commercial™
software solutions to create a customer engagement platform for
residential and business customers across the enterprise.
San Diego Gas & Electric Company (SDG&E)
In March 2014, SDG&E selected C3 Commercial and C3 Enterprise™ to
provide critical energy usage insights and tailored energy-saving
recommendations to a broad range of its business customers, from
small-and-medium businesses (SMB) to a limited numberof large
commercial and industrial (LCI) customers.
Commonwealth Edison (ComEd)
C3 Energy will provide a portion of ComEd's customers with Home Energy
Reports. ComEd is a unit of Chicago-based Exelon Corporation (NYSE:
EXC), the nation's leading competitive energy provider, and provides
service to approximately 3.8 million customers across northern Illinois.
In March 2014, Entergy Arkansas renewed its subscription to C3
Residential, which powers Entergy Solutions Rewards. Entergy
Solutions Rewards relies on C3 Residential to integrate and analyze
24 months of Entergy Arkansas residential customers' energy usage, along
with home characteristic information and implemented energy actions in
order to deliver personalized energy usage profiles and tailored energy
savings recommendations to up to 550,000 residential Entergy Arkansas
C3 Energy was selected by Westar Energy, a 700,000 customer utility
serving Eastern Kansas, to deploy C3 Commercial, C3 Energy's customer
engagement portal for small and medium businesses, and C3 Outage
Analysis, Prediction & Restoration™, C3 Energy's outage management
product, across all of Westar's customers and meters.
Detroit Edison (DTE)
DTE deployed C3 Commercial to maximize the energy savings opportunities
for its small-and-medium size business customer base through
participation in an online audit/energy assessment program that is
integrated with the portfolio of DTE energy efficiency offerings and
Public Service Company of Oklahoma (PSO)
PSO is using C3 Commercial to power My Energy Advisor, an online portal
where business owners can find energy-saving ideas that reduce operating
costs. Business owners can explore financial incentives for building
upgrades, high-efficiency equipment and other energy-saving services.
Citizens Utility Board of Illinois (CUB)
Citizens Utility Board of Illinois, which serves as an advocate for
utility customers throughout the state of Illinois, has renewed its
subscription to C3 Residential. CUB Energy Saver (CES (News - Alert)) is a third
party-administered energy efficiency program that has been utilizing C3
Residential since June 2012. The CUB Energy Saver program engages
customers with advanced energy savings recommendations, feedback, and
rewards through the C3 Residential online portal.
"We are seeing significant uptake and competitive wins in our customer
engagement and energy efficiency applications and significant interest
in our grid analytics SaaS products," said Ed Abbo. "Having recently
deployed the largest smart grid analytics deployment to-date and seen
the validation of our platform at some of the largest global utilities,
enabling them to solve some of the most complex scalability and machine
learning issues, C3 Energy is well positioned to help utilities deliver
on the $300/meter/year in value through smart grid analytics."
C3 Energy significantly expanded its smart grid analytics SaaS portfolio
across customer engagement, grid operations, and analytics
Platform-as-a-Service (PaaS) solutions in fiscal year 2014.
In the area of C3 Energy Customer Analytics, C3 Energy released new
versions of its C3 Residential, C3 Commercial, C3 Enterprise, and C3
Customer Segmentation and Targeting™ products in the past six months,
allowing utilities to more effectively engage their customers through
their preferred channels, including call center, mobile, direct mail,
and web portals. Through the use of dynamic customer segmentation based
on machine learning, utilities can now better understand their
customers' needs, enabling them to proactively engage customers with the
right products and services.
In the area of Analytics Platform-as-a-Service, C3 Energy's latest
version of the C3 Energy Analytics Engine enables utilities to build
custom grid analytics applications that seamlessly integrate and manage
the massive volumes of data from their smart grid infrastructure.
Deployable in a virtual private cloud or in a private cloud behind the
utility's firewall, the C3 Energy Analytics Engine takes advantage of
elastic cloud computing to process over 1 million transactions per
second. The latest version of the C3 Analytics Engine provides data
scientists with an integrated data discovery, machine learning model
development, and model execution environment. The new data discovery
interface for data scientists and business analysts allows users to
develop new machine learning algorithms and run them iteratively against
their entire data sets, in-memory.
In the area of C3 Energy Grid Analytics, C3 Energy released six new
applications in fiscal year 2014. These applications include C3 Revenue
Protection, C3 AMI Operations, C3 Asset and System Risk™, C3 Predictive
Maintenance™, C3 Grid Investment Planning™, and C3 Demand Response
Analytics™. The new grid operations applications leverage a deep
analytics library and machine learning techniques to significantly
improve the overall yield of identified non-technical loss opportunities
and asset failure predictions, as well as to improve the accuracy of
"C3 Energy solutions are architected upon a secure, scalable, and
extensible analytical platform, the C3 Energy Analytics Engine," said Ed
Abbo, President and CTO, C3 Energy. "Customers integrate their data
sources to the platform once, and then they can deploy multiple C3
Energy Smart Grid Analytics solutions over time. This fast, modern, and
flexible approach has proven compelling with customers, as we see more
and more customers deploying multiple C3 Energy solutions over time."
Expansion in headcount and locations
Since the beginning of the 2014 fiscal year, C3 Energy has added 34 new
employees primarily in software engineering and customer service. The
number of locations has also expanded, as C3 Energy services a rapidly
growing US and international customer base. In addition to the company's
new headquarters in Redwood City, California, the company's US-based
locations now include Boston, Atlanta, and Boulder. International
expansion includes locations in France, Italy, Japan, and Hong Kong.
About C3 Energy
C3 Energy is an enterprise application software company that harnesses
the power of big data, smart grid analytics, social networking, and
cloud computing to improve the safety, reliability, and efficiency of
power delivery. C3 Energy's family of utility-tested and proven smart
grid analytics products deliver end-to-end solutions across the entire
smart grid, from energy grid capital asset allocation, transmission,
distribution, and advanced metering, to the customer experience and
energy efficiency programs. C3 Energy products enable utility operators
to realize the full benefit of their smart grid and energy system
investments. Learn more at C3Energy.com.
Copyright © 2014 C3, Inc. dba C3 Energy. All rights reserved. C3 Energy,
the C3 logo, and all other C3 Energy product names referenced herein are
trademarks of C3 Energy and may be registered in certain jurisdictions.
All other product names, marks and symbols may be trademarks or
registered trademarks of their respective owners.
[ Back To TMCnet.com's Homepage ]