Green Mountain Power Named to Fast Company’s List of the World’s Most Innovative Companies for Third Year in a Row
GMP Ranked #5 for Energy and Joins Apple, Stitch Fix, and Peloton on Prestigious 2019 List
20 February 2019
COLCHESTER, Vt. – For the third year in a row, Green Mountain Power earned a spot among the top ten most innovative energy companies in the world, landing at number five in Energy as Fast Company released its prestigious list of the World’s Most Innovative Companies for 2019. GMP joins companies like Apple, Stitch Fix and Peloton on the list.
Fast Company highlighted GMP’s groundbreaking work on grid transformation to cut carbon and costs with stored energy, saying, “By adding batteries to individual homes, the grid gets stronger… the utility can draw from the network of batteries and avoid emissions.” Last summer, GMP and Vermont led the way by drawing from shared energy in hundreds of Powerwalls in customers’ homes along with larger, utility-scale batteries to offset carbon and more than $500,000 in costs for all GMP customers.
“This recognition for team Vermont is so meaningful. It is proof that innovation is critical to cut carbon and lower costs for all of the customers we serve, and that the work can’t stop,” said Mary Powell, GMP’s President and CEO. “Vermont is a small state but we can make a big impact working together and leading the way for other states in innovation and the fight against climate change.”
The World’s Most Innovative Companies is Fast Company’s signature franchise and provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy. The list honors the businesses making the most profound impact on both industry and culture, showcasing a variety of ways to thrive.
“Established players are showing the same kind of nimbleness that we’ve generally associated with startups,” said Fast Company deputy editor David Lidsky, who oversaw the issue with senior editor Amy Farley.
“GMP, in partnership with so many, has long led the way in innovation in Vermont and this honor is no surprise. It again shows how entrepreneurial thinking is part of our economy’s DNA,” said Frank Cioffi, who works with big Vermont tech firms and leads the Greater Burlington Industrial Corporation.
Along with the Powerwall program, GMP also broke new ground by designing and launching a super-transparent, interactive online Outage Center where customers can report outages, track progress, and get estimated restoration times. The maps and stats load easily on cellphones to empower customers with information in real time (info updates as GMP gets it) during outage events. GMP’s Business Innovation team also worked with large and small companies across the state on energy transformation projects that help them reduce fossil fuel use to cut costs and carbon – all told these 2018 projects will offset 80 million pounds of carbon. In 2019, GMP already has a full slate of new Business Innovation projects and, construction is set to start on three solar installations with large batteries to increase local clean power generation, and cut carbon and costs for all customers. GMP is also preparing to launch new, industry-leading products and services this spring that will offer customers more ways to reduce their carbon footprints cost-effectively.
“There is an urgent need to take action and that means energy transformation right now through partnerships across Vermont, and products and services that help both residential and business,” Powell said. “Delivering the best service and value for our customers is our North Star, and we’re excited to continue to make more progress.“
Fast Company’s Most Innovative Companies issue (March-April 2019) is now available online at https://www.fastcompany.com/most-innovative-companies/2019 as well as in app form via iTunes and on newsstands beginning February 27th. The hashtag is #fcmostinnovative.
About Green Mountain Power
Green Mountain Power (GMP) serves approximately 265,000 residential and business customers in Vermont and is partnering with them to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective and reliable power in Vermont. GMP was the only utility named to Fast Company’s 2018 list of Most Innovative Companies for Energy and is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. J.D. Power’s 2018 rankings also put GMP among top utilities for customer satisfaction.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine Of The Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.