Bulletin
Investor Alert

press release

Aug. 2, 2020, 6:00 p.m. EDT

Global Utilities and Energy Retailers Realize “Chief AI Officer” Advantage for Digital Transformation and Integrated Experience with Bidgely UtilityAI Platform

Bidgely adds millions of homes served worldwide, numerous new customers, partners, products and solutions in 2020

Bidgely continues to reshape the energy sector by deploying its patented UtilityAI™ platform in partnership with new utility and energy retailer customers worldwide in the first six months of 2020 – adding millions of new homes served to its customer-base in more than a dozen countries. Joining the list of customers like Rocky Mountain Power , NV Energy and VSE , Bidgely’s suite of personalized energy experience and business intelligence solutions for both electric and dual-fuel customers are now implemented with Southern California Gas (SoCalGas®), Duke Energy , TEPCO and more.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200802005004/en/

“Integrating UtilityAI into operations is equivalent to having a Chief AI Officer on your team who can intuitively understand every customer’s energy habits, preferences, demographics and history of interactions with your organization,” said Abhay Gupta, CEO of Bidgely. “This MVP is capable of analyzing how such customer insights impact utility operations organization-wide, including DSM program participation, grid infrastructure, call center operations and revenue generation. Every area of utility operations benefits from this intelligence.”

2020 Mid-Year Results and Recognition

Utilities around the world have uniquely leveraged the UtilityAI platform to successfully design and improve their programs and services. For example, the introduction of annual energy reports in 2020 bolstered TEPCO ’s customer engagement, with 91 percent of customers finding Bidgely reports useful or very useful and 66 percent following Bidgely’s rate plan recommendations. Bidgely’s HER 2.0 solution also helped SoCalGas exceed savings for medium consumption customers, opening up hundreds of thousands of terms savings from this underserved segment who engaged in email communications at a 50 percent open rate.

AI-powered energy management was recognized for providing greater resilience, enhanced customer engagement and driving full-scale digital customer experience among utilities and energy retailers in 2020 as well, as revealed in Guidehouse Insights whitepaper “ The Power of AI for Energy Management, Q2’20 .” A second Guidehouse Insights report, Market Data: Smart Home Data Analytics , also recognized the UtilityAI platform for its role in customer engagement and analytics for smart home devices, such as smart thermostats, solar PV and smart appliances, in the burgeoning Smart Home Data Analytics Market , which is expected to reach $24.1 billion in revenue by 2029.

New Partnerships and Platform Solutions for 2020

A partnership with leading utility meter innovator Itron was announced in early 2020 to streamline and simplify deployment of Bidgely Enterprise Analytics , which helps utilities understand both customer needs and grid loads in new, data-driven ways. This coupled with UtilityAI platform expansions in the first half of 2020 saw AI integrated into new operational areas within utilities and used to engage new customer segments, including extending the personalization benefits realized by residential customers to small-medium business and commercial customers.

The Bidgely HER 2.0 Solution along with the solution for gas and dual fuel customers both delivered significant savings for medium and low usage customers in 2020, who traditionally have been untapped for energy efficiency programs. Additionally, an integrated Marketplace Solution has created a personalized e-commerce experience using AI that gives consumers the freedom to purchase discounted products and services from their preferred vendor while opening up new revenue streams for utilities and energy retailers.

To learn more about how Bidgely UtilityAI has empowered utilities and energy retailers with a Chief AI Officer, a complete platform white paper with customer success driven use cases can be accessed here: go.bidgely.com/UtilityAI-Platform-Whitepaper

About Bidgely

Bidgely is an AI-powered SaaS Company that enables utilities to create greater business value and accelerate our path towards zero carbon by delivering personalized customer experience. Powered by our unique patented technology, Bidgely's UtilityAI™ Platform transforms multiple dimensions of customer data - such as energy consumption, demographic, and interactions - into deeply accurate and actionable consumer energy insights. We leverage these insights to empower each customer with personalized recommendations, tailored to their individual personality and lifestyle, usage attributes, behavioral patterns, purchase propensity, and beyond. From smart thermostats to EV chargers, solar PVs or personalized / ToU tariffs, UtilityAI™ recommends new value-added products and services to the right customer at the right time. With roots in Silicon Valley, Bidgely has over 15 energy patents, $50M+ in funding, retains 30+ data scientists, and brings a passion for AI to utilities serving residential customers around the world. For more information, please visit www.bidgely.com or the Bidgely blog at bidgely.com/blog .

View source version on businesswire.com: https://www.businesswire.com/news/home/20200802005004/en/

SOURCE: Bidgely

Christine Bennett
Bidgely
press@bidgely.com

COMTEX_368773494/2456/2020-08-02T18:00:26

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

Copyright Business Wire 2020

Comtex
Link to MarketWatch's Slice.