President Obama speaks at headquarters of smart grid firm OPower

Arlington, Va., March 8, 2010 — Delivering a speech on clean energy jobs from the headquarters of OPower, President Barack Obama heralded the company as an American success story and “a model of what we want to be seeing all across the country.”

OPower is an energy efficiency and smart grid software company that helps utilities meet their efficiency goals through effective customer engagement, providing utility customers with the insightful information needed to reduce energy usage and deliver savings on monthly utility bills.

Highlighting the company’s continued success in driving large-sale reductions in energy usage and helping utilities deliver on the promise of the smart grid, President Obama made numerous references to OPower during his speech, which was carried live and widely reported by the national cable news networks.

“It is great to be here at OPower,” Obama said. “The work you do here, as we just heard, is making homes more energy efficient, it’s saving people money, it’s generating jobs and it’s putting America on the path to a clean energy future”And so this is a model of what we want to be seeing all across the country.” He went on to add, “We know that there have been success stories all across America. OPower is one of those success stories. This is a company that works with utilities to help folks understand their energy costs and how they can save money on their energy bills.”

Working with more than 25 utility partners, including six of the ten largest, OPower has been independently verified to deliver a two to three percent average reduction in energy consumption across homes receiving analysis of past usage and individualized energy savings tips from OPower.

OPower’s platform uses patent-pending algorithms to determine the likeliest source of inefficiency inside a home, and the latest in behavioral science to present that information in a highly engaging and motivating fashion. Scaled nationwide, the company’s reporting system would save enough energy to power more than three million homes, while saving customers more than $5 billion annually.

“We’re honored and humbled that the president selected OPower as the venue for his remarks on clean energy jobs and the clean economy. The President’s recognition of the work we have been doing with our utility partners and the tremendous results we have been able to achieve validates our innovative approach to energy efficiency,” said Dan Yates, founder and CEO of OPower. “Utilities are increasingly recognizing that effective customer engagement is the missing component for unlocking the potential of energy efficiency, as well as the value of their smart grid investments. OPower’s unique platform enables utilities to reach and engage all customers, providing them with easy-to-understand, relevant and actionable information about their energy usage, and motivating energy saving actions on an unprecedented scale.”

OPOWER is a maker of energy efficiency and smart grid software, providing a multi-channel customer engagement platform proven to deliver energy efficiency gains to its utility partners.

Six of the ten largest utilities in the U.S. use OPower to improve the effectiveness of their energy efficiency portfolios. For utilities with advanced metering infrastructure (AMI), the OPower platform is a cost-effective way to convert hourly data into measurable peak and overall savings, delivering the value of the smart grid directly to their customers. Founded in 2007 and privately held, OPower is headquartered in Arlington, VA.



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