Tendril buys Recurve for energy analyticsGigaom Feb 28, 2012 Back to press
Energy software company Tendril has snapped up intellectual property, employees and a San Francisco office from Recurve, the startup (formerly called Sustainable Spaces) which develops and sells software to help energy auditors determine the most cost-efficient energy efficiency measures for their customers. Tendril says it will incorporate Recurve’s building analytics into its Tendril Connect software. Terms of the deal were not disclosed.
Tendril has been enhancing its energy analytics throughout 2011, and will use the Recurve software to beef up its residential energy savings recommendations. Tendril CEO Adrian Tuck told me earlier this year that Tendril wants its software platform to act as the sort of Android layer to connect all energy-related (and even non-energy) devices in buildings and homes. And that includes developing an Amazon-style recommendation engine to help residential customers reduce their energy consumption.
Tendril bought GroundedPower for its behavioral analytics in late 2010. Tuck said recently that he thinks 2012 will be the year that energy software companies need to “go big or go home.”
Recurve originally was directly in the energy auditing business, but its core technology was software that enabled its own auditors to help home owners take steps like insulating their roof, sealing their air ducts and installing windows that minimize heat loss. But Recurve got directly out of the energy auditing business about a year ago and focused on selling its software to contractors and auditors.
The residential energy auditing market has been tough because the spending on energy efficiency projects tends to be low, and the returns on investments for service providers can be lengthy. The green building space has been difficult in general, particularly because of the weak housing market in recent years, and it was reported this week that Serious Energy plans to close one of its energy efficient windows factories.