Comverge Named for Fourth Time as 'Most Promising Company' at Energy Venture Fair V
EAST HANOVER, N.J. and ATLANTA, GA., November 22, 2004 – Comverge, Inc., today announced that it was named "Most Promising Company" among the 75 energy companies that presented at the Energy Venture Fair V, held in San Jose earlier this month.
Energy Venture Fair V 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, Energy Venture Fair III and Energy Venture Fair IV.
Comverge recently closed on its "Series B" Preferred investment by a broad investor group including: Rockport Capital Partners, Nth Power, EnerTech Capital Partners, NorskHydro Ventures, and Ridgewood Capital.
Comverge CEO, Robert M. Chiste, said, "The Venture Fair has been very useful for us over the past few years to spread awareness of our company among energy investors. We are delighted that Comverge has received this distinguished award for the fourth time and believes 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 $13.6 million in Series "B" Preferred funding primarily to expand our Virtual Peaking Capacity business, 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™, is a leading energy intelligence company whose investors include 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 (NYSE: NHY), Rockport Capital Partners, and Shell Internet Ventures, an affiliate of the Royal Dutch/Shell Group of Companies (NYSE: RD). Comverge is represented across the world with offices and research facilities in Atlanta, Georgia; East Hanover, NJ; Newark, California; Pensacola, Florida; and Tel Aviv, Israel. Providing software and system solutions to over 500 clients in the electric utility industry, Comverge implements both integrated and outsourced solution based models for remote meter reading, distributed generation monitoring, and time-of-use billing and demand response, and direct or voluntary load control initiatives. For more information visit www.comverge.com.
Media Contact At Comverge, Bud Vos, Vice President of Marketing, 973.884.5970,
