PowerHouse dynamics

About PowerHouse dynamics

Powerhouse Dynamics operates as a provider of Internet of Things (IoT) solutions tailored for multi-site commercial facilities, including restaurants, convenience stores, and retailers. The company was established in 2009 and later acquired by The Middleby Corporation in April 2019 for approximately $11 million. Following the acquisition, Powerhouse Dynamics continues to function as an autonomous business unit within Middleby. The company was founded by Carsten Steenberg and Dan Kaplan, with Martin Flusberg joining as CEO early on to develop the business plan and raise capital. Flusberg, a serial entrepreneur with a background in creating technologies addressing sustainability and energy efficiency, led the company to its successful exit. The current president is Jay Fiske, who joined in 2011 and has been instrumental in developing the company's IoT strategy and partnerships.

The business model centers on a recurring revenue stream from its software-as-a-service (SaaS) platforms, SiteSage and Open Kitchen. These platforms are designed to connect, analyze, and control equipment to improve operational efficiency and reduce energy costs. Clients are typically enterprise-level organizations with portfolios of small commercial facilities. Revenue is generated by providing these clients with the tools for remote management and automation of their equipment, which leads to savings on energy, maintenance, and labor costs.

The company’s flagship products are the SiteSage and Open Kitchen platforms. SiteSage delivers enterprise-wide energy and asset management by monitoring electricity at the circuit level, as well as tracking gas and water usage. It allows for centralized control over HVAC systems and other major loads, using analytics to diagnose performance issues and identify savings opportunities. Open Kitchen is an IoT platform specifically for the food service industry, connecting commercial kitchen equipment from any brand to a cloud-based system. This platform enables remote menu distribution, monitors food preparation and storage temperatures to automate food safety compliance, and manages energy consumption across all connected equipment, providing a single view of operations across all locations.