Comverge Teams with Eaton Corporation to Establish Strategic Channel Relationship
East Hanover, NJ - January 23, 2008: Comverge, Inc. (Nasdaq: COMV), a leading clean capacity provider through demand response and energy efficiency, announced today that through their Enerwise subsidiary, they have entered into a strategic alliance with Eaton Corporation to bring demand response and managed energy service offerings to Eaton and its customers. The offerings include a combination of strategic consulting and energy efficiency solutions. The relationship establishes Eaton's Electrical Group as a recognized channel which will offer Comverge solutions to their customers. Eaton's Electrical Group had sales of $4.2 billion in 2006 and is a recognized leader in electrical control, power distribution, uninterruptible power systems and industrial automation products and services.
"Eaton is committed to offering customers sustainable and renewable energy products and services through our PowerChain(TM) Management solutions. Demand response related service is at the forefront of sustainable solutions through conservation, energy reduction and energy efficiency. By combining Eaton's engineering services and energy management products such as Pow-R-Command(TM) lighting controls and Power Xpert(R) metering with Comverge demand response and energy efficiency programs, we are helping our customers 'go green'," said Frank Campbell, vice president of Global Sales for Eaton's Electrical Group.
Comverge's solutions enable commercial and industrial customers to reduce energy costs, capture increased value from demand response and energy efficiency markets and take advantage of alternative power initiatives. Eaton will market these commercial and industrial solutions to their customer base as part of their overall energy management and environmental solution offering, thereby providing a strategic distribution relationship for Comverge. Additionally, Eaton will offer Comverge's residential solutions to its residential construction customers.
"The combination of Comverge's Demand Response, Energy efficiency, and managed energy service capabilities and Eaton's extensive distribution channel reach will afford customers the best and most comprehensive enterprise energy management solutions available today," said Dean Musser, President and COO of Comverge's Enerwise Group. "We look forward to working together to enable Eaton and their customers to gain immediate benefits from our solutions."
About Comverge:
Comverge is a leading provider of clean energy solutions that improve grid reliability and supply electric capacity on a more cost effective basis than conventional alternatives by reducing base load and peak load energy consumption.
About Eaton:
Eaton's electrical business is a global leader in electrical control, power distribution, uninterruptible power supply and industrial automation products and services. Eaton's global electrical brands, including Cutler- Hammer(R), MGE Office Protection Systems, Powerware(R), Holec(R) and MEM(R), provide customer-driven PowerChain(TM) Management solutions to serve the power system needs of the industrial, institutional, government, utility, commercial, residential, IT, mission critical and OEM markets worldwide.
Eaton Corporation is a diversified industrial manufacturer with 2007 sales of $13.0 billion. Eaton is a global leader in electrical systems and components for power quality, distribution and control; fluid power systems and services for industrial, mobile and aircraft equipment; intelligent truck drivetrain systems for safety and fuel economy; and automotive engine air management systems, powertrain solutions and specialty controls for performance, fuel economy and safety. Eaton has 64,000 employees and sells products to customers in more than 140 countries.
For Comverge Investors:
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance, including the impact that the Energy Independence and Security Act of 2007 (the "Energy Act") will have on our businesses, including our Demand Response, Smart Grid technologies, and Energy Efficiency solutions. These forward-looking statements involve a number of factors and assumptions that could cause actual results to differ materially, including risks that the agencies responsible for implementing the policies set forth in the Energy Act will do so in a manner that is not advantageous to us, that the provisions of the Energy Act that require the use of advanced technologies will not incorporate or favor the technologies used by us in our business, that the implementation of the Energy Act may be delayed by legal challenges from parties adverse to the implementation of the Energy Act and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and other of the company's filings with the Securities and Exchange Commission. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
Contact:
Investor Relations
Michael Picchi
Chief Financial Officer
770-696-7660, invest@comverge.com
Media Relations
Chris Neff
Director of Marketing
973-947-6064, cneff@comverge.com
Mark Horner
Manager, Public Relations and Internal Communications
Eaton Corporation, Electrical Group
412-893-3590, markhorner@eaton.com
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