2012 Utility Technology Challenge Winners Announced

AUSTIN, Texas, July 2, 2012 /PRNewswire/ -- From 14 finalists presenting technology solutions at the CTSI Utility Technology Challenge in Santa Clara at TechConnect World, a top solution winner and three fund awardees were selected from a top tier pool of promising utility-focused clean tech solutions.

CTSI and its program committee congratulate Varentec, the 2012 CTSI Top Utility Solution, and the three demonstration fund awardees: Retroficiency, Simple Energy, and WegoWise. The program committee, comprised of Fraunhofer TechBridge, Kauffman Foundation, Arsenal Venture Partners, TechConnect, AC-NET, Austin Energy, Constellation Energy, National Grid, Northeast Utilities, and Shell Gamechanger selected the winners on June 20, following 8-minute presentations to a crowded audience.

"Our applicant pool nearly doubled in size this year, consisting of a truly amazing set of clean technology opportunities," said Matthew Laudon, director of CTSI. "We are incredibly proud of all of the finalists who made it to Santa Clara and are eager to follow the progress of those who will move on to utilize pilot funding with Fraunhofer TechBridge."

Varentec (www.varentec.com) provides dynamic grid optimization technology and solutions at the edge of the network, delivering increased capacity, energy savings, grid stability and improved asset utilization to utilities large and small in both domestic and international markets.

"Varentec is excited to have been selected winner of the Utility Technology Challenge for our Edge of Network Grid Optimization product," said Andrew Dillon, Varentec co-founder.  "The insights and validation from the review committee of utilities and investors is invaluable. Programs like this from CTSI truly benefit both utilities and the emerging utility technology companies. The opportunity to implement this field pilot, as a result of the contest, is an important step in delivering Varentec's transformational grid solution."

Retroficiency (www.retroficiency.com) delivers actionable operational and retrofit recommendations by leveraging an extensive database of commercial building models and advanced data analytics. Using a matching engine, the Virtual Energy Assessment forms a weather-normalized reference model for a building and compares it to the building's actual performance to determine overall dollar and energy savings estimates.

"With just a year's worth of interval data, Retroficiency's Virtual Energy Assessment identifies buildings with the greatest efficiency potential, and allows utilities to engage those customers with specific energy reduction opportunities, in minutes and without ever going on-site. Being selected by the Utility Technology Challenge's industry leading panel of judges allows us to demonstrate how our analytics-based approach is a much more effective way to drive utility efficiency programs than today's untargeted process. We thank CTSI, Fraunhofer TechBridge and their partners for putting together a great competition and event," said Bennett Fisher, CEO and co-founder of Retroficiency.

Simple Energy (utilities.simpleenergy.com) leverages behavioral science and game mechanics delivered on technology platforms most people use to instigate measurable and verifiable energy efficiency, demand side management, and smart grid results.

"Simple Energy is thrilled that CTSI has shown a strong support for the validity of behavior-based energy efficiency through social game mechanics," said Yoav Lurie, founder and CEO of Simple Energy. "CTSI, the leader in commercialization of emerging clean technologies, has clearly stated that behavior based demand side management (DSM) has its place among the mix of reliable, clean alternative energy sources."

WegoWise, Inc. (www.wegowise.com) offers a suite of analytical tools, intuitive graphical interface, customizable reporting and flexible sharing to easily disseminate utility information across business and personal networks.

"There is a lot of low-hanging fruit to substantially reduce utility bills by making buildings more efficient, but most people just don't know where to start," said Barun Singh, founder of WegoWise. "This win reinforces the value of WegoWise. We're helping utilities and property managers quickly discover their biggest energy drains and prioritize energy efficiency upgrades for the least efficient buildings. By making this process easy and reliable, we help people break paralysis and dramatically cut costs with minimal investment."

The Utility Technology Challenge is an annual program beginning in the autumn with a call for applicants with solution focus areas determined by a committee of utilities and technology integrators. At the beginning of the following calendar year, committee members review pre-vetted, qualified companies and determine semifinalists to present in June at TechConnect World Conference. Those interested in the 2013 Challenge should contact Chris Erb ([email protected]) for more information.

About CTSI:

The Clean Technology & Sustainable Industries Organization (CTSI), a 501c6 non-profit industry association, represents the organizations developing, commercializing, and implementing energy, water, and environmental technologies. Clean technologies offer much needed solutions to growing resource security and sustainability concerns and are critical to maintaining economic competitiveness. CTSI brings together global leaders for advocacy, community development, networking, and information sharing to help bring these needed technologies to market more rapidly. Visit www.ct-si.org for more information.

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SOURCE Clean Technology & Sustainable Industries Organization