Sparc spins off energy services unit

Staff Report
Published Feb. 17, 2014

Charleston-based Sparc plans to spin off its energy services line of business, 5twenty, to enable it to grow as an independent company.

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The technology-based company helps building owners, managers and key stakeholders reduce energy costs of their buildings.

Sparc initially developed 5twenty to deliver energy efficiency assessments for the Veterans Affairs Department. 5twenty has since expanded into the commercial market to provide energy management solutions to building owners, operators, consultants and other building services providers.

“Given the development of the 5twenty platform and the opportunities the team has cultivated, it makes sense to prop 5twenty up as a stand-alone entity,” Sparc CEO Eric Bowman said in a statement. “The company will always have its roots here at Sparc, but I couldn’t be more pleased with the development of the platform and the achievements of the 5twenty team.”

Jeff Beck, former product manager with Sparc, will take a senior role in the new entity. 5twenty will continue to develop its financial analysis tools and more solutions.

“Planning for and executing more in-depth projects has historically been expensive and risky. We’re changing that,” Beck said in a statement. “We are delivering solutions that make those deep energy savings a reality, without that expense and risk.”

Sparc provides software development services for the government and commercial sectors, and develops commercial software products for the executive leadership, human resources, energy management, big data analytics and mobile markets. Sparc has offices in Charleston and Washington, D.C.

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