FirstFuel Closes Q2 with Major New Utility Customers

7/26/17

LEXINGTON, Mass.--(BUSINESS WIRE)--FirstFuel Software, the global leader in business customer engagement for the energy industry, announced today that it has experienced continued growth in 2017, increasing its customer roster to 30 utilities in North America and Europe while successfully posting strong results with utilities and energy providers that have rolled out its cloud-based platform this year.

FirstFuel's cloud-based platform, which provides web and mobile tools that enable utilities to deliver personalized insights directly to business customers, is foundational to four of the company's most recent wins, including:

  • FirstEnergy, one of the largest investor-owned electric systems in the U.S., is leveraging FirstFuel’s platform to deliver an enhanced digital experience by providing customers with easy access to their energy consumption data, enabling easier bill comparison and communications about new services.
  • Alliant, a Wisconsin-based public utility holding company, is partnering with FirstFuel to maximize its investment in Advanced Metering Infrastructure (AMI) and drive participation in efficiency programs through digitally-enabled efficiency recommendations.
  • PEPCO, a public utility owned by Exelon, is using FirstFuel to enhance the digital customer experience for business customers by equipping account teams with data analytics under an organization-wide business intelligence initiative.
  • National Grid, an investor-owned utility servicing territories in Massachusetts, New York and Rhode Island, is using FirstFuel’s platform to empower account teams with customer intelligence to improve business customer segmentation, targeting and engagement.

“The utility landscape is rapidly changing, with new energy options emerging that trigger more customer questions,” said David Moreira, Director of Commercial Sales at National Grid. “We’re leveraging customer insights to enable our sales teams to deliver improved customer service and build better relationships. We can now more efficiently pinpoint which products and services are best suited to serve our customers’ needs, based on their energy use, location and specific business activities.”

In addition to adding new utility customers to its roster, FirstFuel continues to expand relationships with existing customers, including Pacific Gas & Electric (PG&E), Washington Gas Energy Services (WGL), Exelon and Con Edison. Baltimore Gas and Electric, another FirstFuel customer, recently received “Best Analytics Project” at CS Week 2017 for its “Building Tune Up” Program, which utilizes customer intelligence to engage business customers in retro-commissioning projects. The program has identified 49,000 MWh in energy savings, increased retro-commissioning project applications by 60 percent and delivered 4.5 / 5.0 customer satisfaction scores.

FirstFuel also announced that Energy Impact Partners (EIP), an investment firm that focuses on companies driving value for utilities, has become a strategic investor. EIP’s investment will enable FirstFuel to continue to expand its customer portfolio and platform technology. EIP’s limited partners comprise more than a dozen global utilities, including Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista and others.

“At EIP, we are focused on bringing a collaborative approach to energy innovation by investing in and partnering with companies that are shaping the energy landscape of the future,” said Hans Kobler, CEO and Managing Partner at Energy Impact Partners. “Business customer engagement is an area of critical importance for utilities as they become more customer-centric and deliver more tailored solutions. FirstFuel’s platform is leading the way in helping utilities leverage customer intelligence to provide strategic insights, drive new revenue streams and build better relationships.”

“The demand for our SaaS business customer engagement platform has grown immensely in the past year as utilities recognize that building better customer relationships is critical to their long-term success,” said Swapnil Shah, CEO, FirstFuel Software. “Businesses represent 60 percent of utility revenues, and we’re helping utilities understand those customers to deliver an improved experience across all communication channels.”

About FirstFuel Software
FirstFuel Software is the global leader in business customer engagement for utilities, using advanced analytics to help 30 energy providers in North America and Europe improve business customer satisfaction, drive sales and revenue, and reduce service costs. Combining data science, building science, and software, our business customer engagement platform derives intelligence from over 4 million meters, transforming energy providers into trusted advisers to their business customers. Our SaaS solutions deliver accurate, insightful, and cost-effective results at scale. Founded in 2010 and privately held, FirstFuel is headquartered in Lexington, MA. For more information about FirstFuel, please visit www.firstfuel.com and follow us on Twitter @FirstFuelSW.

About Energy Impact Partners

Energy Impact Partners is a collaborative strategic investment firm that invests in companies optimizing energy consumption and improving sustainable energy generation. Through close collaboration with its strategic investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP's utility partners include Southern Company, National Grid, Xcel Energy, Ameren, Great Plains Energy, Fortis Inc., AGL, Avista, MGE Energy Inc., TEPCO, PTT Public Company Limited, OGE Energy Corp. and TransCanada. For more information, visit www.energyimpactpartners.com.

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