Energy and technology go hand in hand. In the Spokane region, a few companies in these sectors are doing quite well.
Let’s take a look at some of the highlights.
- Ecova – formerly Advantage IQ – recently acquired LPB Energy Management. This grows Ecova’s client base to nearly 700 commercial companies.
- ReliOn Inc. expects strong revenue growth this year because of expanding markets, new product sales and more, according to The Journal of Business.
- Itron recently acquired SmartSynch, which analysts say puts the Liberty Lake-based business in exclusive company as the only supplier not pushing just one kind of communication.
All three are spinoffs of Avista (formerly Washington Water Power), and Ecova is still owned by Avista. This is an example of how much one company can spur innovation and investment.
Jobs at these companies are well-paid, and the more Ecovas, ReliOns and Itrons we have, the larger our region’s tax base. Companies like these also spur research and innovation, and can attract top-tier businesses to our area. Itron, as one example, has put this region on the national map. Its Smart Grid technology has even landed the global company a meeting at the White House.
So what does this good news mean for our area? It shows how the energy sector plays a strong role in the Spokane region. It shows that clean technology companies – like Demand Energy Networks, Flyback Energy and Ag Energy Products, to name a few – have access to resources here that can help grow their business.
Innovate Washington – formerly Sirti – is anchored in downtown Spokane and works to aid start-ups and accelerate technology-based innovation.
It’ll be interesting to see where things in the energy and technology sector go from here. Ecova, ReliOn and Itron are three great companies laying the foundation for future growth.