Innovest Provides Update On Retail Energy Marketing Effort
Innovest Global Inc., which describes itself as a diversified industrials company, provided an operational update for the Innovest Energy Group, including its recently announced retail energy marketing effort
As previously reported, Innovest issued a news release concerning what it termed a "joint venture agreement" with Entrust Energy, under which as, stated by Innovest, "Entrust Energy will staff a representative at the Innovest Global Headquarters to manage a brand new team of energy business development specialists provided by Innovest. They will utilize best practices to continue aggressive growth initiatives that both companies saw as a natural fit."
In a March 20 news release, Innovest again used the term "joint venture" in describing an update to the program
Innovest stated, "The Previously announced joint venture between Innovest Electric Solutions and Entrust Energy (02/25/2019 press release) has launched with the hiring of four new Business Development Specialists who began their corporate orientation on Tuesday March 19, 2019. The new business development team will start offering the Innovest Electric suite of products to commercial clients immediately, with the operational launch of Innovest’s joint venture with Entrust Energy."
Innovest also offers a DCR-100 (Demand Cost Reduction) proprietary energy solution for commercial and industrial customers. Innovest has described the system thusly: "The DCR System is a primary metering system. It steps in between the unmitigated electricity flow and the client, eliminating up to 50-70% of wasted demand charge, reducing electricity cost by 30-40%. It is ideal for manufacturers and others with high energy use, and is an installed product with a six-figure price."
In an update to the DCR business, Innovest said, "The Innovest Energy Group previously developed and began implementing the DCR-100 proprietary energy solution for commercial and industrial customers (announced in our (12/04/2018 press release). We are happy to report that two (2) of these DCR projects are complete to the customers satisfaction and now online. The projects generated over $300,000 to the company in revenue. These new industrial clients will each save an estimated $40,000 per year in electric costs, making the system cash-flow positive for them after only three (3) years."
"Finally, the Innovest Energy Group is exited to announce contracts with four sales channel partners for the purpose of expanding our national sales footprint. We are currently training their sales representatives on the suite of products offered by Innovest including but not limited to the DCR-100, custom infrastructure projects and LED lighting and retrofitting of light housings," Innovest said