Comverge Selected by Dominion for Key Pilot on Demand Response Technologies
EAST HANOVER, N.J., June 2, 2008/PRNewswire-FirstCall via COMTEX News Network/ -- Comverge, Inc. (Nasdaq: COMV), a leading clean capacity provider through demand response and energy efficiency, announced today that it has been selected for a key pilot program at Dominion Resources, Inc, (DRI) one of the nation's largest producers and transporters of energy, to run a pilot residential demand response program. The pilot will be deployed at Dominion Virginia Power, a subsidiary of DRI.
Dominion will deploy smart programmable communicating thermostats (PCT's) and intelligent load control switches. The pilot will operate through this summer, and will include Comverge demand response equipment in approximately 2,000 homes.
Comverge's demand response solutions allow electric utilities to respond to rising peak loads, by enabling them to reduce energy usage at critical times. For this program, Comverge's load management system will send a communication signal to the demand response devices installed at the home to cycle air conditioners. Additionally, the program allows participating residents to program and control the temperature setting of their home thermostats using the Internet.
Dominion will deploy the regulatory-approved pilot in three major metropolitan regions of Virginia-Northern Virginia, Richmond and the Norfolk/Virginia Beach/Tidewater area.
"We are pleased to have been selected by Dominion on this project, using the advanced capabilities and proven reliability of Comverge's demand response solutions," said Robert M. Chiste, Comverge Chairman, President and CEO. "We are a trusted partner in the industry and confident that we can help Dominion with its demand response and energy efficiency programs to meet business operational goals."
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. For more information, visit www.comverge.com .
About Dominion Virginia Power
Dominion is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 26,500 megawatts of generation, 1.1 trillion cubic feet equivalent of proved natural gas and oil reserves, 14,000 miles of natural gas transmission, gathering and storage pipeline and 6,000 miles of electric transmission lines. Dominion also owns the nation's largest underground natural gas storage system and operates about 975 billion cubic feet of storage capacity and serves retail energy customers in 11 states. For more information about Dominion, visit the company's Web site at http://www.dom.com.
For Comverge Investors:
This release contains forward-looking statements which 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 any continuation or expansion of the pilot program or guarantee of future business from the pilot program. Those statements involve a number of factors that could cause actual results to differ materially, including risks associated with the company's business involving the company's products, their development and distribution, economic and competitive factors and the company's key strategic relationships, and other risks more fully described in our most recently filed Quarterly Report on Form 10-K 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.
For Additional Information
Christina Kelly
Communications Marketing Manager
Comverge Inc.
509-435-6341
ckelly@comverge.com |