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    Opower Files Confidential IPO, Says the Wall Street Journal

    Feb. 12, 2014
    Opower has submitted a confidential filing for an initial public offering, according to a Feb. 12 article by the Wall Street Journal that cites unnamed sources. Morgan Stanley and Goldman Sachs Group are leading the IPO underwriting, the article says.

    Opower has submitted a confidential filing for an initial public offering, according to a Feb. 12 article by the Wall Street Journal that cites unnamed sources.

    Speculation has been circulating for months that the behavioral energy efficiency firm has plans to go public.

    Opower has retained Morgan Stanley and Goldman Sachs Group to lead the IPO underwriting, says the WSJ. The article reported no estimate on Opower’s valuation or share values.

    The article also said that Opower’s IPO relies on the 2012 Jumpstart Our Business Startups Act that eases financial disclosure rules for companies with under $1 billion in revenue the previous fiscal year.

    The Arlington, Va. company typically works with utilities to create energy efficiency and demand response programs that use behavioral prompts to encourage energy savings. It is perhaps best known for its success in getting homeowners to save energy after seeing how their usage compares to that of neighbors. The company has recently been increasing its presence in the small to medium business market, as well.

    Opower has expanded rapidly since partnering with the first utility in 2007. It now reaches 22 million households and serves more than 90 utilities. The company has 400 employees.

    See recent EnergyEfficiencyMarkets.com reporting on Opower here and here.  The WSJ’s article on the IPO is here.

    About the Author

    Elisa Wood | Editor-in-Chief

    Elisa Wood is an award-winning writer and editor who specializes in the energy industry. She is chief editor and co-founder of Microgrid Knowledge and serves as co-host of the publication’s popular conference series. She also co-founded RealEnergyWriters.com, where she continues to lead a team of energy writers who produce content for energy companies and advocacy organizations.

    She has been writing about energy for more than two decades and is published widely. Her work can be found in prominent energy business journals as well as mainstream publications. She has been quoted by NPR, the Wall Street Journal and other notable media outlets.

    “For an especially readable voice in the industry, the most consistent interpreter across these years has been the energy journalist Elisa Wood, whose Microgrid Knowledge (and conference) has aggregated more stories better than any other feed of its time,” wrote Malcolm McCullough, in the book, Downtime on the Microgrid, published by MIT Press in 2020.

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