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Austin energy company Innovari leaving town [Austin American-Statesman](Austin American-Statesman (TX) Via Acquire Media NewsEdge) Oct. 13-- Austin-based energy company Innovari is leaving town, the company said Monday. The company's management team is currently on a three-city tour, evaluating where it will move its headquarters next year, said Ed Solar, the company's executive vice president global marketing and sales. Asked to elaborate on the reason for Innovari's departure, Solar wrote, "Our strategic requirements could not be met with Austin," in an email. He did not respond to requests for additional information. The company, whose technology is involved in energy grid management, will soon pass 100 employees, Solar said. The news came as Innovari also announced Monday that it has acquired Green Bay, Wisconsin-based NetPeak Energy, which develops products for commercial customers to help with their demand response efforts. Terms of the deal were not disclosed. "Bringing the NetPeak Energy and Innovari teams together will serve to continue to strengthen our relationships with utilities and commercial customers," Innovari founder and CEO Chris Hickman said in a statement. Founded in 2011, Innovari is focused on bringing together utilities and their customers to improve how energy is used. That year, the company raised $4 million in venture backing, according to securities filings. ___ (c)2014 Austin American-Statesman, Texas Visit Austin American-Statesman, Texas at www.statesman.com Distributed by MCT Information Services |