WegoWise, the leading Boston-based building performance analytics provider, today announced that it will acquire Melon Power, an award-winning analytics platform for the commercial building sector. This strategic acquisition bolsters commercial building capabilities on the WegoWise platform.
WegoWise provides a web-based utility analytics platform for the building-performance industry. Their platform analyzes large aggregations of energy, water and gas usage data and transforms the results into useful, actionable information for building owners, managers, energy auditors and building efficiency programs. Using this information, energy managers are able to automatically track, understand and benchmark building performance, and make better efficiency investment decisions. WegoWise’s platform can also track performance after efficiency upgrades allowing them to see the return on investment.
Melon Power is an analytics platform for the commercial building sector which recently placed second in the Department of Energy’s 2012 Apps for Energy Contest and was a semifinalist at the 2012 Cleantech Open. Melon Power’s methodology, leverages Green Button and other utility data to help commercial buildings affordably and easily receive Energy Star benchmarks.
As part of the acquisition, WegoWise will acquire all assets of Melon Power, Key members of Melon Power’s team will also join WegoWise in senior-level positions in analytics and development, including Founder Craig Isakow, a building-industry veteran with experience at the Department of Energy and Johnson Controls.
Ecopreneurist spoke exclusively with Andrew Chen, CEO of WegoWise and Craig Isakow, Director of Commercial Solutions at WegoWise and former Melon Power CEO on the acquisition.
“We are very excited to join WegoWise and become a part of their mission”, said Craig Isakow. “We have learned a lot from the commercial energy analytics space and the growing benchmarking mandate in many areas. There is a lot of data available through GreenButton, but if you do not measure energy use, you cannot manage it. WegoWise has a proven track record in the multi-family market and we hope to extend their capabilities to the commercial segment.”
WegoWise will extend its platform with Melon Power’s methodology, which leverages Green Button and other utility data to help commercial buildings affordably and easily receive Energy Star benchmarks.
Andrew Chen, added, “It was a natural decision to combine our collective innovations in the multifamily, single-family and commercial building markets to offer a cohesive and affordable resources as one company. We think of data the same way as Melon Power. There is a ton of data available from a lot of buildings, from building systems, but without benchmarking you cannot identify how your building is performing relative to others.”
WegoWise regularly identifies impressive opportunities for cost savings, as inefficient buildings typically pay four times the utility costs of efficient buildings.
“If you can tell a bad building you can help remedy it and not leave money on the table. We work with data to solve a problem for property managers and help increase their bottom line.”, says Chen.
The WegoWise platform works by automatically collecting utility data from a portfolio of buildings, then normalizing and comparing those buildings by energy intensity and building characteristics. Their platform can handle compliance, analysis, benchmarking and tracks utility use - water, gas and electricity. Visually compelling charts and graphs help users immediately target retrofits and verify building performance. Since 2010, WegoWise has developed the world’s largest multifamily utility database, covering 10,969 buildings representing 176,292 residential units and 644,000 utility bills over more than 164.3 million square feet of space across the United States and Canada.
WegoWise’s acquisition of Melon Power builds on recent partnerships with the USGBC and the Green & Healthy Homes Initiative, which marked the company’s expansion from multi-family housing into single-family building offerings. The acquisition accelerates WegoWise’s entry into the commercial building efficiency space, expanding the reach of the company’s tracking, benchmarking and business intelligence offering.