Energy Manager EnerNOC to Raise $31.4M in Public Offering


EnerNOC (ENOC), which sells demand response and energy management services to commercial and industrial customers, was one of the rare successful exits in the cleantech world — the Boston-based company went public earlier this year, netting nearly $100 million. Today, the company filed to offer 4 million shares of its common stock for net proceeds of $31.4 million, based on Friday’s closing price of $42.13.

The company says it expects to offer 800,000 of the shares, with an additional 3.2 million shares to be offered by certain selling stockholders. EnerNOC says it will use the funds for a variety of plans: to grow its business into new regions, bring in new customers, R&D, and possibly future acquisitions.

The company needs to scale its business now that it has some competition; Comverge (COMV) recently bought commercial and industrial-focused Enerwise. A few weeks ago we asked EnerNOC’s CEO Tim Healy five questions, check them out.

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