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Nest Acquires MyEnergy

MyEnergy’s Technology and Talent Further Nest’s Goal of Helping People Understand and Address Home-Energy Consumption

Palo Alto, California — May 7, 2013 — Nest Labs, Inc. (nest.com) today announced that the company has acquired MyEnergy to further Nest’s goal of helping people understand and address home-energy consumption. The acquisition also accelerates Nest’s services for energy providers, giving them a cost-effective way to share data with their customers. MyEnergy has users in all 50 U.S. states and spans more than 1,500 utility territories, allowing people to track their electric, gas, and water usage in one place online.

“Giving our customers more in-depth access and analysis of their energy usage has always been part of the Nest vision,” said Tony Fadell, Nest founder and CEO. “We’ve made great strides in the past year and a half; by bringing MyEnergy into the Nest family, we can reach our goals even faster. The MyEnergy team is incredibly like-minded and we’ve already begun working with them to find ways to integrate their technology into Nest products.”

MyEnergy is an online service that allows you to gather all of your utility usage and bills in one place, and lets you compare them with your friends and family. You can see the evolution of your usage and costs month over month, year over year, and can compare your performance to other homes in your neighborhood. For energy providers, MyEnergy offers an affordable and modern online solution for customer engagement that’s easy to implement across organizations of all sizes and doesn’t require any smart grid technology or smart meters for adoption.

“With less than 25 percent of the U.S. population connected to the smart grid, we’ve focused on developing technology that makes it easy for people to access the information they need to make decisions about their energy use,” said Ben Bixby, co-founder and CEO of MyEnergy. “We’re excited about the opportunity to join Nest to continue giving people useful, actionable information.”

To learn more about MyEnergy and to sign up for the service, visit www.myenergy.com.

About Nest

Nest is focused on addressing home-energy consumption with elegantly designed solutions, including the Nest Learning Thermostat and Nest Energy Services. Nest thermostats are installed in 80+ countries and have helped save more than 750,000,000 kWh of energy to date. Founded by Apple alums Tony Fadell and Matt Rogers, Nest is privately funded and based in Palo Alto, Calif. For more information, visit nest.com.

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