[June 09, 2015]

C3 Energy Announces Fiscal Year 2015 Results

C3 Energy announced results from its fiscal year 2015, which ended on March 31, 2015. The company achieved significant increases in bookings, deployments, new and renewal contracts, product enhancements, and strategic hires.

C3 (News - Alert) Energy's irrevocable contracts grew by 115 percent over the prior fiscal year. These bookings include new, renewal, and expansion contracts awarded after rigorous and highly competitive evaluations by leading utilities across North America and Europe.

"C3 Energy's cloud-based SaaS (News - Alert) model, its well architected technology platform, and its machine learning capabilities - which enable outcomes to quickly and drastically improve over time as the analytics engine runs and more data sources are fed into it - are important differentiators recognized by utilities globally," said Roberta Bigliani, associate vice president with IDC (News - Alert) Energy Insights.

Utility Smart Grid Deployments with Unprecedented Results

During the fiscal year, the company launched more than 10 successful deployments averaging only six months from kickoff to production, delivering on time, on budget, and to full specifications. With these deployments, C3 Energy has produced measurable results through its smart grid applications. Notable utility engagements included:

• Enel, Italy's largest power company, selected C3 Energy for a $64.4 million contract to provide Software-as-a-Service and professional support services. C3 Energy and Enel are enabling a step change in smart grid reliability and operational efficiency through predictive grid maintenance and advanced power fraud detection using C3 Revenue Protection, C3 Predictive Maintenance, and C3 Residential solutions. The deployment across 44 million meters in Italy and Spain will be the largest SaaS smart grid data analytics deployment in the world, with the potential to deliver €15 per meter in annual economic benefit to Enel and its customers.
• Eversource (formerly Northeast Utilities) selected C3 Energy customer analytics applications as the engagement platform for informing customers about the specifics of their energy use, providing custom recommendations for saving energy, and enabling customers to take action to achieve energy savings goals. The first phase of the deployment went live in February, on time and on budget.
• Baltimore Gas & Electric, an Exelon subsidiary, deployed C3 Revenue Protection and C3 AMI Operations across its two-million-meter smart grid network in six months to drive grid efficiency and fraud detection efforts. Within 90 days, the applications identified thousands of non-technical loss cases equating to 120 percent of BGE's target project value, and 3,600 meter health issues with 99 percent accuracy rates POWERGRID International named this the Smart Grid Project of the Year based on its size, scope, innovation, and benefit to the utility, its customers, and the power industry as a whole.
• AEP selected C3 Energy customer analytics applications as a comprehensive engagement solution for residential and small and medium business customers. The solution is being deployed across the full service area of AEP Public Service Company of Oklahoma.

Other implementations during the fiscal year included product launches or upgrades at Endesa, ENGIE (formerly GDF Suez), Commonwealth Edison, DTE Energy, Entergy Corporation, Hydro-Québec, San Diego Gas & Electric, Westar Energy, Citizens Utility Board of Illinois, and Pacific Gas and Electric Company. The company's current contracts cover more than 52 million smart meters and 80 percent of the European market.

Robust Platform-as-a-Service Solution Proven at Scale

C3 CyberPhysix™, the company's IoT operating platform, is in production use at enterprise scale at twenty energy companies in the United States and Europe. The platform integrates production data from hundreds of independent data sources and tens of millions of sensors aggregated using highly scalable elastic computation and storage architectures, providing processing capabilities that exceed 1.5 million transactions per second. A platform-as-a-service offering, C3 CyberPhysix is a comprehensive design, development, provisioning, and operating platform for deploying industrial-scale cyber physical applications for the energy industry. The platform's built-in tools and services allow developers to rapidly create and deploy custom applications, integrate with existing enterprise or web applications and connect data from any system - in an open, scalable, and secure environment.

Expansion Across Oil & Gas Market and International Locations

With the platform at its core, C3 Energy has expanded its product line to include additional smart grid applications for utilities as well as applications for oil and gas companies. The company is developing a suite of applications designed to meet the unique requirements of oil and gas companies from predicting rotating equipment failures to optimizing enhanced oil recovery production. Applying next-generation technologies to decade-old challenges, C3 Energy increases the efficiency and effectiveness of decision making from well development and production to pipeline transportation and downstream operations. These applications unlock up to $2.4 billion per year in economic benefit for a typical oil major, or approximately $2.90 per barrel of oil equivalent (BOE).

C3 Energy has also expanded its international locations in France, Italy, and Japan and established a European advisory board. Members of the board include Jacques Attali and Lady Barbara Judge. Attali, an Honorary Member of the French Council of State, a former Special Adviser to the President of the Republic of France, and founder of the European Bank for Reconstruction and Development in London, is currently CEO of A&A. Lady Judge, a trained commercial lawyer with both British and American citizenship, has an unusually broad and successful international career as a senior executive, chairman and non-executive director in both the private and public sectors.

Recognized for Innovation

C3 Energy's innovation and success have been recognized with industry awards throughout the year, including being named an IHS (News - Alert) 2015 Energy Innovation Pioneer, winning Ventana Research's Technology Innovation Award, and receiving POWERGRID International's 2015 Smart Grid Project of the Year award with BGE. The company was also acknowledged as a technology leader in the Global Cleantech 100, AlwaysOn's Top 100 Private Cloud-Computing Companies and Global 250 Top Private Companies, among others.

"The momentum of IoT is having a tremendous impact as the grid becomes sensored, connected, and smarter, producing immense amounts of data. This necessitates next-generation technologies and analytics solutions to deliver value from those data," said Ed Abbo, president and CTO, C3 Energy. "C3 Energy has responded to this 'Internet of Energy' demand - our highly-scalable platform and suite of applications are in use at 20 energy companies, across Europe and North America."

About C3 Energy

C3 Energy enables energy companies to realize the full benefit of their IoT and system investments. C3 Energy applies the power of big data, advanced analytics, social networking, machine learning, and cloud computing to improve the safety, reliability, and efficiency of power generation and delivery. It is transforming the energy value chain with a family of tested and proven SaaS and PaaS products that deliver end-to-end solutions across the entire smart grid - from generation, transmission, distribution, and advanced metering to the customer experience. We make the Internet of Energy a reality. Learn more at C3Energy.com.

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