NEW YORK, NY--(Marketwired - Sep 28, 2016) - Energy Impact Partners LP (EIP) today announced the addition of Avista Corp. (NYSE: AVA) to its Nexus strategic partner network. Avista joins Southern Company (NYSE: SO), National Grid plc (NYSE: NGG), Xcel Energy Inc. (NYSE: XEL), Ameren Corporation (NYSE: AEE), Great Plains Energy (NYSE: GXP), and Fortis Inc. (TSX: FTS) as strategic utility partners collaborating to increase revenues, reduce costs and improve service to customers through innovation.
EIP is a private equity fund that invests in emerging technologies, products, services and business models throughout the electricity supply chain from generation to consumption. EIP recently announced investments in Opus One Solutions, which provides visibility and control to electric distribution utilities; Sense Labs, which enables customers to know exactly how much energy every device in their homes is consuming; and AutoGrid Systems, which offers big data analytics and cloud computing solutions for the energy industry.
"We are pleased to join some of the country's leading utilities to develop leading-edge energy solutions through EIP," said Avista Chairman, President and CEO Scott Morris. "Avista has a long history of innovation in energy delivery. We recognize that technology is changing rapidly and with that the needs and expectations of our customers are changing as well. Working with EIP and this coalition of progressive utilities will help ensure that innovation remains firmly at the core of our utility business."
"Avista will bring new perspectives to Energy Impact Partners," commented EIP CEO and Managing Partner Hans Kobler. "We at EIP, our partners and our portfolio companies look forward to learning from their insights and experience. Their long track record of identifying opportunities and incubating effective solutions makes Avista a unique addition to our network."
"Avista is purposeful and focused in identifying and vetting unique and creative solutions for the energy needs of today, while preparing to meet those that will arise in the future," added Ed Schlect, Avista's Chief Strategy Officer. "Our collaboration with EIP will allow us to take those efforts to an entirely new level. Working together with the EIP team will provide comprehensive market coverage, better collective insights, and the ability to develop and support robust and reliable providers of new services to the utility and to our customers."
About Energy Impact Partners
Energy Impact Partners (EIP) is an investment firm focused on companies optimizing energy consumption and improving sustainable energy generation. EIP is based on a collaborative strategic investment approach, pioneered by the firm's principals at GE. EIP seeks to bring the best companies, experience and vision in the industry to bear on the emerging energy landscape. EIP's strategic partners include Southern Company, National Grid plc, Xcel Energy Inc., Ameren Corporation, Great Plains Energy, Fortis Inc., and Avista Corp. Key focus areas are set by EIP's strategic partners and include energy efficiency, sustainable generation, energy storage, connected devices, big data and software solutions, and energy management -- "The Grid of Things."
About Avista Corp.
Avista Corp., incorporated in 1889 and based in Spokane, Wash., is an energy company involved in the production, transmission and distribution of energy as well as other energy-related businesses. Avista Utilities is the operating division that provides electric service to 372,000 customers and natural gas to 335,000 customers. Its service territory covers 30,000 square miles in eastern Washington, northern Idaho and parts of southern and eastern Oregon, with a population of 1.6 million. Alaska Energy and Resources Company is an Avista subsidiary that provides retail electric service in the city and borough of Juneau, Alaska, through its subsidiary Alaska Electric Light and Power Company. Avista stock is traded on the New York Stock Exchange under the ticker symbol "AVA." For more information about Avista, please visit www.avistacorp.com.