Constellation Energy, GE, Qualcomm and Verizon Ventures Make in Smart Grid Company Consert Inc.

Consert Inc. announced that Constellation Energy, GE Energy Financial Services, Qualcomm Incorporated, Verizon Ventures and private investors have invested $17.7 million to fund strategic marketing, North American sales and ongoing enhancements of Consert’s advanced smart grid software. Consert is currently providing municipal and cooperative electric utilities in North Carolina and Texas with a reliable, flexible and economical form of green operating reserves and energy management. Consert empowers consumers to manage their energy usage without compromising control, comfort or convenience through secure online energy profiles and home devices.“Consert has united the interests of utilities with those of consumers and small businesses,” said Consert CEO and President Jack Roberts. “This group of investors advances our vision of creating an integrated green energy solution with smart infrastructure, real-time communications, and intelligent in-home devices.” Wake Electric Membership Corporation in North Carolina just completed a pilot with Consert and now plans to extend the service to its member base. Its CEO, Jim Mangum, reported, “Our pilot participants realized energy savings ranging from 7 to 54 percent with an average of 17 percent and responded favorably about the ease-of-use of the Consert system. Consert gives energy conservation the attributes of generation and addresses utilities’ issues such as capacity, transmission, renewable portfolio standards and power variability from intermittent generation. Consert has the ability to solve energy issues quickly and cost-effectively and also offers advanced ancillary services such as wind and solar regulation.

“Demand side resources must be as reliable as generation assets to meet capacity obligations in today’s marketplace,” said Kathi Hyle, COO, Constellation Energy Resources and senior vice president, Constellation Energy. “The Consert solution meets this test and could benefit utilities, municipals and cooperatives nationwide. By providing measurable and verifiable capacity in the form of operating reserves for generating and distributing utilities, Consert creates a Virtual Peak Plant^SM that can defer or supplant the need for additional conventional power plants at a cost that is 70 to 80 percent less than the current capital cost of a new gas-fired peak plant with an equivalent operating cost that is 60 percent less.