Performance Systems Development Raises Growth Capital from Blue Hill Partners
Performance Systems Development, an Ithaca, NY and Pennsylvania-based building performance software and services provider, today announced that it has secured an investment from Blue Hill Partners, an investment firm focused exclusively in the Green Technology sector. The investment from Blue Hill will allow PSD to enhance and expand its industry-leading programs in public and private sector energy efficiency.
“Performance Systems Development has been an industry pioneer, and this new investment helps us keep our place at the head of an increasingly competitive pack,” said Greg Thomas, CEO of PSD. “Blue Hill has a keen eye for investing in cutting-edge green technologies, and they have a strong track record as company builders. We’re very pleased to be working with such an impressive and well connected partner.”
For more than 30 years, Performance Systems Development, LLC., has been a leading provider of energy efficiency and building performance services and software. Founder and CEO Greg Thomas designed the first-ever Home Performance program in 1995, and PSD has been at the forefront of the industry ever since. Mr. Thomas is now chair of the Efficiency First national trade association.
The company offers a comprehensive approach to energy efficiency programs. Its expertise, training programs, and software suites provide a distinctively integrated ability to supplement program design and implementation with the customization of flexible and user-friendly energy-saving benchmarking and quality assurance tracking tools. As both an enterprise software developer and implementation-consulting firm, PSD is uniquely positioned to provide rapid deployment of software and services to a wide array of clients, including state utilities, commercial businesses, residential contractors and the Federal Government.
“No other company or program can claim to offer the range of software services that we provide in our Compass platform,” said Thomas.
PSD has developed strong, tested protocols for workforce development, program outreach & marketing, quality assurance, project reporting & database management through their experience managing and supporting efficiency programs in Pennsylvania, Kentucky, and other states. The work has resulted in increased program effectiveness in improving housing stock.
With the investment by Blue Hill, PSD is poised to expand its position in the industry and to take advantage of the growing market for retrofitting homes and other buildings for energy efficiency. As part of the American Recovery and Reinvestment Act to create green collar jobs and put more Americans to work, the government has made an investment of nearly $8 billion in state and local weatherization and energy efficiency efforts, and utility companies are offering incentive programs for energy savings measures. Home Star, the multi-billion dollar home energy federal stimulus package now moving through Congress, offers opportunities for the home performance industry the likes of which have not been seen in the last 30 years. PSD’s single and multifamily building energy analysis software, is unparalleled at modeling existing homes and is pre-approved for Home Star applications.
“PSD’s expertise and products, combined with Blue Hill’s investment, means that we are well-placed to take advantage of this expanding market,” noted Thomas. “Our software and training, enable contractors to accurately and economically audit, manage, retrofit, and design energy efficiency building performance systems. Increasingly our clients and their customers care about standing behind their savings predictions and our tools are designed to meet that need.”
About Blue Hill Partners
Blue Hill Partners is an investment firm focused exclusively in the Green Technology sector with a strategic focus in energy efficiency technology and service companies. Blue Hill’s has a proven track record of building promising Green Technology businesses by providing investment capital, management resources and strategic support. Other portfolio companies include Aircuity, Inc. and Encelium Technologies. For more information visit www.bluehillpartners.com.