Dive Brief:
- Opower held its initial public offering on Friday. After pricing at $19, Opower (NYSE: OPWR) opened at $25.
- Opower traded throughout the day at around $23, ending at $23.09 and selling about 6.7 million shares.
- Opower is a cleanweb startup that provides behavioral efficiency and customer engagement software-as-a-service to electric utilities.
Dive Insight:
After a lull, Opower's success story could pave the way for other cleantech IPOs.
Stuart Bernstein, global head of Goldman Sachs' Clean Technology and Renewables Group, expects between "half a dozen to a dozen" cleantech companies to IPO this year, noting that some have already registered IPOs confidentially as Opower just did, according to the Wall Street Journal.
