Blake Young will step in as the new, permanent CEO of Comverge.
Young has been on the company's board since 2006. Comverge provides demand response services, i.e., flipping off heaters, pool pumps and air conditioners during peak power events on behalf of utilities. Unlike EnerNoc, which mostly specializes in curbing power at industrial sites, Comverge specializes mostly in small businesses and residences. Although demand response services are gaining in popularity, it takes a long time to move to profitability. In the third quarter of 2009, Comverge lost $9.4 million on $33.2 million in revenue. Comverge will give the report for the fourth quarter and the full year in March. EnerNoc had its first quarterly profit in the third quarter of 2009, but acquisitions put it in the red again in the fourth quarter.
Still, both companies are expanding the amount of power they can curb during peaks. Comverge nearly has 3 gigawatts under its control and EnerNoc has over 3 gigawatts.
Meanwhile, in Pennsylvania, green Governor Ed Rendell said the state spent $5 million more out of a $650 million alternative energy fund to build 13solarprojects. By December 2010, Pennsylvania will rank among the top five states in terms of total solar power capacity.
Speaking of money, GreenRoad has secured $10 million in funding from the Generation IM Climate Solutions Fund. The Redwood Shores, Calif.-based start-up makes software and systems that warn drivers when they're accelerating too fast, braking too hard, or otherwise driving like energy-slurping jerks. Following the system's green-, yellow-, and red-light warning systems can help cut accidents in half and reduce average fuel use by up to 10 percent. Basically, it's like a digital mom. Last year, the company raised $15 million.
Finally, Ecology Coatings has come out with a line of bio-based coatings that get cured with UV light. Back in 2005, the company showed off a version of waterproof paper that in some ways they discovered by accident. Expect to hear more about green chemistry like these coatings in 2010. Industrial chemicals sell for higher prices than biofuels. Thus, many biofuel makers have begun to tweak their products to get into the chemistry market.
Today's stories also prove that not everything occurs in California. Both EnerNoc and Comverge are on the East Coast (Boston and New Jersey, respectively) and Ecology Coatings is located in Michigan.