Posts tagged: advantage iq
Last week one fun story was a business section review of how two area firms, Ecova and Nuvodia, ended up choosing their business names. Nuvodia was a brand new name for a reconstituted part of Spokane-based Inland Imaging Business Services.
Ecova was the new name for Advantage IQ.
We were looking around during the research and found another example that didn't make it into the story. Spokane Valley tech firm FlyBack Energy was not originally named thus.
When first launched, the firm carried a name that left a lot to be desired, said current CEO John Overby. It was Advanced Research and Development.
The name changed when the company locked onto its business focus, which is to conserve significant amounts of electrical engineering through devices that eliminate the “flyback” effect in an AC circuit.
Spokane's Ecova, which started life as Avista Advantage and went through a few name changes, has hoisted a new sign on its company office building, 1313 N. Atlantic. The most recent name was Advantage IQ.
The company, which manages and analyzes office energy consumption and billing, was recently featured as the April volunteer of the month for the City of Spokane Parks & Recreation Department.
Spokane-based Ecova has completed the purchase of a Georgia-based competitor with the similar-sounding name of Prenova, Inc. Terms of the purchase were not disclosed.
Earlier this year Ecova renamed itself from Advantage IQ. The similar names is pure coincidence.
Ecova officials began moving toward the new name two years ago, well before discussions were launched to acquire Prenova, a company statement noted.
Both companies offer corporate energy management and efficiency services.
Prenova has roughly 80 corporate customers that are now part of Ecova’s portfolio. Most of those are in the southeast United States, according to a company spokeswoman.
The transaction is expected to be neutral to Ecova’s earnings in 2012. Prenova reported revenue of $12.4 million for the first three quarters of 2011. It reported the same sales for all of fiscal year 2010.
With the addition of the new clients, Ecova’s customer list now exceeds 600 and expands the company’s reach into the education and government sectors.
Advantage IQ was launched in 1997 as a subsidiary of Avista Corp. It now has more than 900 employees with offices in Cincinnatti, Portland, Denver, Minneapolis, Seattle and San Francisco.
One company that sometimes misses recognition for its green value is Spokane-based Advantage IQ. The firm, which spun out of Avista, provides detailed utility expense analysis and efficiency management for large companies.
Company President and CEO Jeff Heggedahl will explain how it does that work in the next Executive Connect breakfast, on May 26 at the Georgian Room of the Spokane Club, 1102 W. Riverside. Hosted by Connect Northwest, the event begins at 7:30 a.m. (doors open at 7).
Advantage IQ has received an EPA Energy Star sustained excellence award for five consecutive years. The most recent award noted the company in 2010 provided energy ratings to more than 38,000 buildings, an 11 percent increase over 2009.
Admission is $30. To reserve a spot, contact Catherine Greer, at firstname.lastname@example.org or 509.358.2114.
For information on Advantage IQ, here's the website.
Spokane's Advantage IQ is one of 111 companies named Energy Star partners for energy efficiency, based on the annual U.S. Environmental Protection Agency summary of green companies.
The awards are grouped into three categories: Partner of the Year, Awards of Excellence and Sustained Excellence.
Advantage IQ provides companies with detailed, ongoing management of utility, telecom and other office expenses. It was one of 46 groups in the 2011 Sustained Excellence category.
The company's energy accomplishments include: