An increasing number of government agencies and private businesses want lower utility bills, which is good news for a State College company that makes energy-monitoring software.
EnergyCAP's software products keep track of utility bills, produce reports on where an organization is using energy and show how energy usage can be trimmed. The company's technology also automates payment of bills while ensuring that customers don't pay bills for energy usage in buildings they used to own but no longer do. CEO Steve Heinz says EnergyCAP primarily serves public entities, like state and local governments, school districts and colleges, which receive hundreds of bills per month.
He says rising energy bills, acceptance of Web-based software and the growing interest in sustainability — how many people knew what a carbon footprint was 10 years ago? — have all contributed to EnergyCAP's 55 percent growth in business over the past three years. “It's a good sector to be in because the software can fund itself,” Heinz says. “It almost becomes a no-brainer for organizations that don't have something like this.” EnergyCAP, which has 40 employees and took in $4.6 million in revenue last year, was named No. 3340 on Inc. magazine's recent list of the country's 5,000 fastest-growing companies.
Now the company is adding new features to its software, including enhancing it so it can be used in other countries. That involves adding additional languages, international weather data, and currencies and units of measurement used overseas.
Source: Steve Heinz, EnergyCAP
Writer: Rebecca VanderMeulen