May 18, 2007 EnerNOC Ends Up on Busy IPO Week Clean-power solutions company EnerNOC Inc. ended a busy week in the IPO market on a strong note on is first day of trading. Industrial-goods company TriMas Corp., the only other initial public offering on Friday, also showed healthy trading gains. A total of 10 companies went public this week, taking the total this month to 20. Another eight are on the calendar for next week. EnerNOC closed at $31.13 a share on the Nasdaq Stock Market (nasdaq: NDAQ), above its initial public offering price of $26. The Boston company's offering priced above the expected range of $23 to $25, which was raised earlier this week from $21 to $23. EnerNOC's IPO drew comparisons to another company that went public this year, Comverge Inc., which rose 24 percent on its first day of trading in April. "They both are in the sweet spot of companies that are considered 'green'," said Scott Sweet, managing director of IPOBoutique.com, an IPO research service. Sweet added that some investors could include mutual funds that have a mandate to buy socially responsible companies. EnerNOC uses its network operations center to remotely manage and reduce electricity consumption across commercial, institutional and industrial customer sites. EnerNOC is paid recurring revenue for managing the demand response capacity. As of mid-April, the company had more than 1,308 customer sites and about 579 megawatts of demand response capacity under its management. EnerNOC's revenue grew to $26.1 million last year from $9.8 million in 2005. Its 2006 loss widened to $5.8 million from $1.8 million the previous year. Venture capital firm Foundation Capital remains EnerNOC's major holder with 19.7 percent of the company, down from 24.7 percent before the public offering.