David Energy

David Energy is a software-enabled retail electricity provider that analyzes and controls customer demand in real-time. The company's core offering is its software platform, Mycor, which integrates with customers' energy devices such as smart thermostats, EV chargers, HVAC systems, backup generators, battery, and solar systems. This integration allows David Energy to optimize energy efficiency and cost for commercial buildings by leveraging distributed energy resources (DERs) directly into electricity markets. The company buys and delivers power to customers more efficiently than incumbent providers, introducing transparency and modernity into the traditionally opaque energy industry.

David Energy's approach defies legacy methods by aligning its incentives with its customers through shared savings generated by the platform. The company's technology enables it to reduce costs and avoid power outages for customers while simultaneously reducing the need for fossil fuel-powered "peaker plants" on the grid. This capability is particularly valuable as energy prices rise, market volatility increases, and the proliferation of DERs contributes to grid decentralization.

As of March 2022, David Energy was operating as a retail energy provider in New York, New Jersey, and Massachusetts, with plans to expand into Texas. The company had launched its software platform for Small and Medium-sized Businesses (SMB) in New York and was developing a residential product for the New York and Texas markets. David Energy's business model positions it to capitalize on the ongoing shifts in the energy sector, including grid decarbonization, decentralization, and digitization.

Key customers and partnerships

David Energy serves commercial customers with large and growing real-estate footprints in New York State. The company's clientele includes energy-intensive businesses such as fitness clubs and quick-service restaurants, which are particularly sensitive to changes in power prices. One notable customer mentioned is Crunch Fitness, whose regional manager praised David Energy for providing peace of mind and efficient operations. The company was planning to rapidly scale up its SMB offering in New York and expand its service to Texas, as well as launch a beta residential offering across both markets.