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Penton Media Invests in GreenPoint Partners to Build Online "Energy Efficiency Marketplace"
NEW YORK and CHICAGO (October 4, 2012) -- In a move signaling the company's strategic push into the fast-growing field of business-to-business sustainability services, Penton Media today announced its investment in a strategic alliance with Chicago-based GreenPoint Partners to develop and commercialize "Green Per Square Foot (PSF)", a web-based "energy efficiency marketplace."
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GreenPSF will enable building owners, managers and end-users to determine ways to operate more efficient facilities, and match up with solutions providers to help implement their plans.
The service will launch in November, and will be accessible to anyone. Initial marketing will focus on Penton customers, a target audience of some six million business decision-makers in 16 industry sectors who use the company's media products and services.
GreenPSF will launch with a focus on helping businesses capitalize on lighting retrofits – switching from older systems to more efficient alternatives, including modern fluorescents and LEDs. In the near future, the platform will expand to include energy procurement, HVAC, motors, solar, and other product categories.
"As new government-mandated efficiency standards are phased in, there is a mad scramble among building owners and managers to figure out the cost benefits of transitioning from existing building systems to more efficient alternatives, and to do it sooner rather than later," said Warren N. Bimblick, senior vice president, strategy and business development at Penton. "Given the fact that Penton's National Real Estate Investor, IndustryWeek, Supermarket News, Waste Age, American City and County, American School and University and a dozen other titles have several million readers with a vested interest in making a smart switch, we think there is a significant business opportunity to launch GreenPSF in serving the enormous demand for lighting and other efficiency retrofits, particularly in these core market sectors."
Bimblick noted GreenPSF is an initiative of the new Penton Sustainability Practice being led by Jonathan A. Schein.
Penton selected GreenPoint to co-develop GreenPSF because of its experience as an energy management and sustainability consulting firm for commercial real estate interests, a primary target market for this new service. The GreenPoint team brings decades of collective success in energy, real estate, finance, and operations to GreenPSF.
"In every business, the cost of operating facilities is at the mercy of energy prices, technologies, equipment performance, financial incentives and the ROI case to change," said GreenPoint Partners CEO Dustin Gellman. "Our partnership with Penton recognizes the resource challenges every business faces, and gives each one of them access to a robust, qualified suite of cost-saving tools, professional advisors and sustainable products that can return measurable performance results."
About Penton Media, Inc.
As a leading, independent, business-to-business media company, Penton knows business and how to create and disseminate the vital content that moves markets. Penton is where professionals turn to gain the critical insight, expert analysis, and relevant connections needed to compete and succeed. The Company is headquartered in New York City with approximately 1,100 employees across key locations throughout the world including New York; Cleveland; Chicago; Overland Park, Kansas; Boulder, Colorado; Fort Collins, Colorado; and Hong Kong. Penton is a privately held company owned by MidOcean Partners and U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and its co-investors. For additional information, visit www.penton.com.
About GreenPoint Partners
GreenPoint is an energy efficiency information services company. Our mission is to provide building owners with actionable insights and facilitate sustainability improvements. Through our Green Per Square Foot platform, we collect and analyze building data, show owners and tenants how to save money, and connect them to solutions providers – including utilities, product manufacturers, installers, and financiers.
Chris Meyer, Director, Corporate Communications
Phone: (212) 204-4259
For GreenPoint Partners:
Dustin Gellman, CEO
Phone: (312) 725-4678