Boston-based energy intelligence software (EIS) company EnerNOC has invested in San Francisco-based Genability Inc., which develops and licenses a database of electricity tariffs and rate engine for use with third-party products. EnerNOC Chairman and CEO Tim Healy will join Genability's board of directors.
In addition to providing Series A funding, EnerNOC has signed a licensing agreement that gives it certain exclusive rights to Genability's technology for EIS programs for the commercial, institutional and industrial sector.
Genability's Switch software is used to assess potential savings in dollars from the installation of a solar power system. It also integrates data from the solar provider about the system itself, along with electricity tariffs and available energy usage data.
Jason Riley, founder and CEO of Genability, says the agreement with EnerNOC will enable his company to expand its personnel and advance product development.