Press Releases
ConsumerPowerline expands Strategic Energy Management Platform to include Steam Asset Management in metro - New York AreaNations Leading Demand Response Provider Partners with Mosto Technologies, NYC's Leading Steam Management Provider
NEW YORK, April 11, 2006 -ConsumerPowerline (www.consumerpowerline.com), one of the nation's leading strategic energy asset management firms, announced that it has partnered with Mosto Technologies (MTI), New York's leading steam management provider to expand its platform of energy management services to include steam assets in its portfolio.
The partnership will allow ConsumerPowerline (CPLN) to integrate steam services into it's client offerings while enabling Mosto's roster of clients to take advantage of ConsumerPowerline's leading energy management offerings-specifically participation in local demand response programs. In addition to this specific deal, a key feature of this partnership is the unique rewards it can create for entrepreneurs like Steve Mosto, founder and CEO of MTI, to partner with the company. ConsumerPowerline has created a unique revenue sharing structure that transparently incentivizes partners, and shares with the entrepreneur any new revenue and profit that this relationship creates.
In the case of the Mosto/ConsumerPowerline partnership, CPLN will provide MTI the capital required to automate its unique offerings. Any such automation that MTI creates with ConsumerPowerline translates into an equity ownership for MTI in ConsumerPowerline and its steam subsidiary and a higher transaction price if MTI and ConsumerPowerline decide to merge the two companies in the future.
Vinay Gupta, Chief Operating Officer of ConsumerPowerline added, "The transaction price is transparently determined by the revenue, profitability and growth of the entrepreneur's and ConsumerPowerline's joint efforts.
This unique structure eliminates the risk for the entrepreneur seeking to work with a bigger firm and reduces the time that is needed to complete the transaction.
ConsumerPowerline intends to use this same relationship structure to attract other entrepreneurs to work with its portfolio to deliver their unique value and hence participate in that incremental growth - not just in terms of new revenue and profits - but as equity partners."
Clients of both firms stand to gain from the combined electricity/steam offering. "A little known fact among many New York City building owners is that spending on steam assets can equal or surpass spending on electricity each year. Beyond that, most do not understand that steam, like electricity, is a controllable expense, and that with smart, strategic counsel, consumers can save a great deal of money," said Chelle Izzi, Direct of Asset Services at ConsumerPowerline. "Our clients look to ConsumerPowerline for a complete suite of energy management offerings, and adding steam to our portfolio will allow us to more completely serve the needs of our clients in New York City."
Steve Mosto, founder and CEO of Mosto Technologies added, "By partnering with the leading energy asset firm in the New York City market, we have broadened our ability to provide a more robust energy management platform. ConsumerPowerline is a trailblazer in the energy curtailment and asset management market and few, if any, companies can deliver the breadth and depth of client expertise and energy knowledge like ConsumerPowerline. We are honored to have ConsumerPowerline as a strategic partner and look forward to developing additional offerings to service our combined client base." After a detailed analysis of steam usage in New York, Mosto Technologies has found that 3-5% of steam use in the city is being wasted or poorly utilized, resulting in the waste of millions of dollars annually. The company currently works with clients such as Tishman Speyer, Cushman & Wakefield, Equity Office, Vornado, as well as providing its expertise at many signature buildings including the McGraw-Hill building, and the Chrysler Center.
"As the majority of New York's commercial and residential buildings utilize steam resources year round -for heating in the winter and cooling in the summer by working with large steam using customers, Mosto has been able to implement remediation programs to dramatically lower costs to the tune of millions of dollars each year," added Gupta. "We look forward to bringing these savings to our current and future clients." "As the energy markets become more sophisticated, it is imperative for firms like ConsumerPowerline to offer holistic services to its clients in order to distinguish itself from the competition. We are always looking for new ways to maximize a building's energy assets for potential savings and steam energy has been an area we had been investigating for some time," Gupta concluded. "With Mosto Technologies as our newest partner, we have been able to fill this void in our product offerings and we anticipate an eager adoption of these steam monitoring services by our customers."
About ConsumerPowerline
ConsumerPowerline (www.consumerpowerline.com) is full service strategic energy asset management firm with a proven track record of helping its clients, large energy users, uncover hidden market revenues and cost savings opportunities available with their real estate assets. Currently, CPLN is the largest non-utility provider of demand response services in the U.S.
ConsumerPowerline enables its clients to make intelligent choices about the selection, sequencing and timing of capturing revenue and cost saving opportunities through a comprehensive energy management strategy that balances financial opportunities with operational requirements and tenant needs. CPLN offers its clients a broad array of services, including: tax savings, energy curtailment, engineering, demand response and steam management.
ConsumerPowerline's client list features notable public and private firms including: CB Richard Ellis, Morgan Stanley, Macy's, Starwood Hotels, Hines Property Management, Forest City Ratner Corporation, Co-op City, Macklowe Properties, RFR Realty, New York Presbyterian Hospital, Newmark Properties, Douglas Elliman Property Management, Cooper Square Realty, Wentworth Management and dozens of other substantial end-users of energy.
The firm's clients include: CB Richard Ellis, Morgan Stanley, Macy's, Starwood Hotels, Hines Property Management, Forest City Ratner Corporation, Co-op City, Macklowe Properties, RFR Realty, New York Presbyterian Hospital, Newmark Properties, Douglas Elliman Property Management, Cooper Square Realty, Wentworth Management, and dozens of other substantial end-users of energy.
About Mosto Technologies
Mosto Technologies (MTI) is the largest provider of steam services in the Metro New York Region. With nearly 20 years of experience in delivering real value for its clients, the company has built a roster of satisfied customers that currently includes Rockefeller Group Development Corp, the New York City Housing Authority, Pfizer, Cushman & Wakefield, Tishman Speyer Properties, Brookfield Properties, Equity Office Properties, Macklowe Properties, CBRE, SL Green, The Port Authority Bus Terminal and many others.