Echelon Corp. (San Jose, Calif.): Michael Anderson is now senior V.P. responsible for smart grid sales and go-to-market strategies to utilities worldwide. He will report directly to Robert Maxfield, Echelon’s president and CEO. Previously, Anderson was a senior exec with several telecommunication companies, including ADC Software Systems, Big Planet, Telismart, and AT&T. He has a BA in political science from the University of Washington in and completed a fellowship at the Georgetown University Law Center.
Archive for November 11th, 2009
Investment Banker Robert W. Baird Quotes Electrical Wholesaling in Report on M&A Activity in the Electrical Market
Interesting report just released on M&A trends in the electrical market by Robert W. Baird & Co., an investment banking firm based in Milwaukee. The report says M&A activity in this market will increase as the economy improves. In part the report said, “Given the industry’s appeal and consolidation drivers, we expect the building backlog of deals to translate to pent-up demand among strategic buyers and private equity firms once the M&A market recovers.”
By the way, information from Electrical Wholesaling magazine was sourced extensively in the report, including EW’s Electrical Pyramid and data from its 2009 Top 200 listing.
Lutron forms new unit for smart grid
In effort to fill the gaps that currently exist between utilities and their customers in the smart grid demand response arena, Lutron Electronics Co., Inc., Coopersburg, Pa., today announced an initiative to broaden the use of its technologies used in lighting systems to help connect power utilities’ smart meters to the electrical infrastructure in both homes and commercial buildings. The initiative will also include focused new technology development efforts led by a newly-formed Energy Solutions Business Unit.
Square D Wins Contract for Metering Equipment from U.S. Dept. of Veterans Affairs
Schneider Electric, Palatine, Ill., announced on Nov. 11 that Square D Co. has been awarded the U.S. Department of Veterans Affairs (VA) Advanced Electrical Metering project under the Square D General Services Administration (GSA) Contract #GS-07F-9462G. The $24.9 million project, expected to commence before the end of 2009 and mandated to complete within 365 days, will include the design and installation of an integrated, advanced electrical metering system to read, analyze, accumulate and communicate energy data at nearly 1,000 buildings across 169 VA sites nationwide. Managed by the VA National Energy Business Center in Seven Hills, Ohio, the project will help the VA comply with federal energy efficiency requirements outlined in the Energy Independence and Security Act of 2007 (EISA 2007) and the Energy Policy Act of 2005 (EPAct 2005).
The VA owns more than 5,000 buildings segmented by Veterans Integrated Service Network (VISN) regions. Twenty VISNs are covered by the project, along with four business administration offices and one headquarters location. The new Advanced Electrical Metering system will be composed of Square D® PowerLogic® advanced energy and power meters and PowerLogic ION® Enterprise Energy Management (EEM) software for data acquisition. All energy and power quality data will be funneled to the primary PowerLogic ION EEM software, which will be hosted remotely by Schneider Electric.
EMCOR to Handle Maintenance Services for GSA Contract at Georgia Air Force Base
As part of a contract from the General Services Administration (GSA) supporting the Office of the Surgeon General, U.S. Air Force for facilities operations and maintenance services at the medical facilities at Robins AFB, Georgia EMCOR Group Inc., Norwalk, Conn., will handle preventive maintenance services for the security, fire protection and electrical equipment and other systems included in the building. The contract, which commenced on Oct. 1, is for an initial twelve-month period, with options permitting GSA to extend the contract period through Sept. 30, 2014.
Robins AFB is the home of Warner Robins Air Logistics Center, the 78th Air Base Wing and more than 60 other units that make up a vital part of the Air Force war fighting team. It’s the largest industrial complex in Georgia, employing a workforce of over 25,000 civilians, contractors and military service personnel. Details
Coleman Cable Sees 3Q YTY Sales Sag But Nice Boost in Quarterly Total Pounds Shipped
While 3Q YTY sales for Coleman Cable Inc., Waukegan, Ill., sagged just over 50%, the company enjoyed a double-digit increase over 2Q 2009 in volume, as measured in total pounds shipped. Said Gary Yetman, president and CEO, “While still significantly below 2008 levels, we are encouraged by continued stability in our volumes, which, measured in total pounds shipped, increased 10.5 percent on a sequential basis from the second quarter of 2009. We continue to believe that the improvements we have made in our business during the past year have us well positioned to benefit as the U.S. economy rebounds.
“Our outlook remains cautious, however, as we believe economic conditions will remain challenging in the near term, and our results are likely to continue to be impacted by pricing pressures resulting from excess industry capacity and weak overall demand. These issues may be more prevalent in the fourth quarter where, relative to other quarters, industry-wide demand levels have historically been lower. Additionally, our visibility of when we may experience a sustained period of volume growth remains limited.”
Full release
N.J.’s PSE&G Gets Green Light to Expand Solar Program
Public Service Electric and Gas Company (PSE&G) today received approval from state regulators to expand its innovative solar loan program by approximately $143 million to finance the installation of an additional 51 megawatts of solar energy systems on homes, businesses and municipal buildings throughout its electric service area.
Since the utility’s initial Solar Loan Program was approved by the New Jersey Board of Public Utilities in April 2008, customers have applied for loans totaling $105 million that would result in 30 megawatts of installed solar capacity. Today’s new initiative will result in a total of $248 million available for loans and 81 megawatts of solar power for New Jersey.
PSE&G would provide loans to developers or customers to cover about half of the cost of a solar installation project, depending on the projected output of the solar energy system and the cost of the system. The borrower would repay the principal, plus interest, over 10 years for residential customers and over 15 years for all other borrowers, a considerably longer investment timeframe than traditional lenders are willing to provide for solar installations.
The remaining project cost would be funded by the owner of the solar system. The owner may also be eligible for a federal investment tax credit and rebates from the NJ Clean Energy Program.
More details
GE Looking to Sell Security Business
GE is in talks to sell its security systems unit, most likely to United Technologies Corp. for more than $1.5 billion in an effort to reshuffle its extensive portfolio and raise capital for strategic acquisitions according to a new report posted by Zacks Equity Research on Nov. 11.
A big piece of GE’s security business is Edwards System Technology, a maker of fire detection equipment, which GE bought from SPX in 2004 for $1.4 billion according to a 2004 article in Electrical Marketing. Edwards was acquired by SPX in 1998 as part of its acquisition of General Signal.
Bridgeport promotes Pearson to regional VP
Bridgeport Fittings has named Jay Pearson to the newly created position of region vice president. Pearson will be the key sales executive directing all activities within the newly outlined sales territory, and will be responsible for developing and implementing regional business plans to include an overall growth strategy, annual sales plan and budget. Among his other duties, he will be responsible for maintaining and cultivating key customer relationships and implementing company sales strategies for expanding the company’s revenue stream.
Pearson brings 21 years of electrical experience, including senior management responsibilities at OZ/Gedney and Rexel.
[Ed Note: This post was changed to reflect that Pearson was already with Bridgeport.]