Cox Enterprises Utilizes Stem Energy Storage System to Conserve Energy and Reduce Costs
Initiative part of Cox Conserves, the company's national sustainability program
ATLANTA, June 25, 2014 /PRNewswire/ -- Through its Cox Conserves sustainability program, Cox Enterprises is utilizing an energy storage system at its Manheim Southern California auction location in Fontana, Calif. Stem's 18kW PowerStore system provides the location with real-time data analytics that are used to optimize efficiency and reduce electricity costs.
"Cox has been investing in energy efficiency projects for many years, so piloting the Stem technology was a natural fit," said Lacey Lewis, Cox Enterprises senior vice president of finance. "Cox Conserves has a legacy of doing what's right for the environment and our bottom line. This system helps us do both by creating energy efficiency and reducing operating costs."
Cox is an early adopter of the Stem PowerStore system, which manages peak usage in Manheim Southern California's main facility. Stem's predictive software allows the building to use the most economical form of power available at any given moment, whether from the battery-based storage or from the grid.
"Cox has a strong culture of leveraging innovation to streamline its operations and reinforce its competitive advantage," said Stem CEO John Carrington. "Stem's energy intelligence platform will help Cox to reduce energy costs by tackling peak demand and enabling the company to focus on key business operations."
The pairing of energy storage and smart software is becoming increasingly important as companies look for ways to manage cost effectiveness and increase investments in renewable energy.
In addition to the Stem PowerStore system, the Manheim Southern California location has implemented HVAC controls and reduced outdoor lighting wattage to conserve energy. Cox Enterprises also utilizes alternative energy in Southern California through fuel cells and solar projects at Cox Communications, the company's broadband communications and entertainment division.
Cox expanded its sustainability goals earlier this year and plans to send zero waste to landfill in the next 7-10 years and become carbon and water neutral in the next 25-30 years. The company also announced a national employee solar program that provides financial incentives for employees who choose to install solar panel systems on their homes.
Since 2007, Cox has prevented approximately 120,000 tons of carbon from entering the environment and saved more than 125 million gallons of water. The company has diverted 15,000 tons of waste from entering landfills since 2013. Cox's Supplier Sustainability Initiative has engaged suppliers that represent more than $160 billion in products and services. Cox Enterprises and its affiliated foundations have invested more than $100 million in sustainability and conservation through operations projects and grants to environmental nonprofits.
About Cox Enterprises:
Cox Enterprises is a leading communications, media and automotive services company. With revenues of nearly $16 billion and approximately 50,000 employees, the company's major operating subsidiaries include Cox Communications (cable television distribution, high-speed Internet access, telephone, commercial telecommunications and advertising solutions); Manheim (vehicle auctions, repair and certification services and web-based technology products); Cox Media Group (television and radio stations, digital media, newspapers and advertising sales rep firms); and AutoTrader Group (automotive media and software solutions). The company's national consumer brands include AutoTrader.com, Kelley Blue Book, Savings.com and Valpak.
About Cox Conserves:
Launched in 2007 by Chairman James C. Kennedy, Cox Conserves is Cox Enterprises' national sustainability program. Cox Conserves focuses on reducing waste and energy consumption, as well as conserving water. The program engages each of the company's major subsidiaries (Cox Communications, Manheim, Cox Media Group and AutoTrader Group) and encourages Cox Enterprises' 50,000 employees and their families to engage in eco-friendly practices.
Stem, a leading provider of energy optimization services, combines big data, predictive analytics and energy storage to reduce electricity costs for businesses. The company's solution requires no compromises on building occupant comfort and offers unparalleled energy insights, allowing a comprehensive view into past, present and future energy use. As demands on the grid continue to increase, Stem's system enables good energy citizenship and unlocks the potential for expanded renewable energy integration. Headquartered in Millbrae, California, Stem is funded by a consortium of leading investors including Angeleno Group, Iberdrola (Inversiones Financieras Perseo) and GE Ventures.
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SOURCE Cox Enterprises
For further information: Elizabeth Olmstead; email@example.com; 678-645-0762
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