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Comverge Named for Third Time as 'Most Promising Company' at
Energy Venture Fair IV
FLORHAM PARK, N.J. and ATLANTA, GA., October 21, 2003 - Comverge, Inc., today announced that it was named "Most Promising Company" among the 75 energy companies that presented at the Energy Venture Fair IV, held in Philadelphia last week.
Energy Venture Fair IV is an event organized to bring together emerging companies in the energy sector with an audience of more than 250 angel investors, venture capitalists, equity partners, investment banks and utility companies. Comverge also won the award at Energy Venture Fair II and Energy Venture Fair III.
Comverge recently closed on its "Series A" Preferred investment by a broad investor group including: Nth Power, EnerTech Capital, Data Systems & Software, Inc. (NASDAQ: DSSI), E.ON Venture Partners GmbH (NYSE: EON), Ridgewood Capital, Easton Hunt Capital Partners, L.P., Norsk Hydro Technology Ventures, Shell Internet Ventures, an affiliate of the Royal Dutch/Shell Group of Companies (NYSE: RD), and Comverge executives.
Comverge CEO, Robert M. Chiste, said, "We are delighted that Comverge has received this distinguished award for the third time. We believe that this is a recognition by the financial and energy industry community that Comverge continues to meet our objectives, grow our existing and new business ventures, and expand our target markets. With our recent success in closing on $18.6 million in Series "A" Preferred funding and the closing of several multi million dollar long-term software, demand control and metering contracts, we are poised to expand our leadership position in the Energy Intelligence Industry."
About Comverge, Inc.
Comverge, Inc., The Power in Power Technology™ has more than 500 energy supplier clients worldwide. Comverge has offices, research facilities, representatives and agents located in Atlanta, Georgia; Florham Park, New Jersey; Newark, California; Pensacola, Florida; and Tel Aviv, Israel. The Company's PowerCAMPTM Group and new 6DiNET Group provide End-to-End Energy Intelligence™ software solutions. Comverge's Technologies Group provides integrated, full-spectrum solutions for direct or voluntary load control programs, remote meter reading, price-responsive programs, time-of-use billing, distributed generation monitoring, theft/outage detection and more. Comverge's Enterprise Group provides pioneering turnkey business solutions including owned and operated systems, Virtual Peaking Capacity™ "negawatt" contracts, and joint ventures. For more information visit: www.comverge.com.
MEDIA CONTACTS
At Comverge, Debbie Nygren, Assistant to CEO, 713.562.6257, dnygren@comverge.com.
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