Carbonetworks has adopted a new name in what seems to be a move away from the narrow focus on carbon markets. The company used to describe itself as a software platform that helps companies create effective carbon emissions strategies that reduce costs and capitalise on emerging global markets.
The new name is ENXSuite and the new identity is aimed at reflecting “the company’s broad customer adoption as an energy performance management provider”. Basically, this is a broader view of resources, including energy, greenhouse gases, carbon, water, waste and other energy sources, all of which are analysed in the same way other business assets are managed, i.e. turning complex data into useful intelligence to improve business decision-making.
Founder and CTO Michael Meehan said “Our new identity will enable us to continue demonstrating the financial benefits of reducing a company’s impact on the environment through carbon and energy reductions for its business, its customers and the environment. Companies are really starting to recognise that their energy use is a tangible asset that can be managed just like sales data – which means it can be measured, managed and monetised.”
At the same time, the company announced it has hired Beatriz Infante as CEO and secured further funding.
I guess this shouldn’t be entirely unexpected. The specialist carbon management companies face strong competition from established financial and ERP players, the likes of SAP and Oracle, so can’t afford to stand still for long. The name distances the company from the narrow carbon focus and implies a broader remit, particularly becoming a ‘suite’ – much more enterprise-friendly – and additional funding will help build the broader product appeal.