DSSI's Comverge Technologies Awarded First New California Direct Load Control Contract
FLORHAM PARK, NJ - June 6, 2001 - Comverge Technologies, Inc. announced today that it has received the first new contract to provide direct load control in California this year. Under the contract, Comverge will provide one of California's major investor owned utilities with equipment that will enable an additional 5 to 10 MW of peak load reduction this summer. Delivery of the equipment is expected within 60 days.
The California Public Utilities Commission (CPUC) recently mandated that each of the three major investor-owned utilities in California implement a two year plan to reduce peak demand using direct load control of residential and commercial air conditioning systems. The Commission cited Comverge Technologies by name as a possible provider of air conditioning cycling programs.
"Direct load control provides a easily deployed and reliable way to address California's peak power needs. We agree with the CPUC that direct load control is a 'cost-effective' and 'potentially vast, untapped source of interruptible electricity.' We believe that air conditioning cycling programs could provide 1000 MW of peak load reduction in California over the next three years," stated Frank Magnotti, President of Comverge Technologies. "We are very proud to receive the first contract in response to the Commission's mandate. Comverge will continue do its part to help California through this energy crisis."
Comverge Technologies, a subsidiary of Data Systems & Software Inc. (NASDAQ:DSSI), is the "new power in power technologies" providing over 5000 MW of peak load reduction to over 450 energy companies worldwide. Comverge provides end-to-end, two-way communication solutions including automated meter reading, utility and/or customer controlled appliance cycling, outage detection, load profiling, home automation, environmental monitoring and distributed generation monitoring. Comverge is headquartered in Florham Park, NJ, with offices, research facilities, representatives and agents around the world. For more information visit Comverge's website at www.comverge-tech.com. In addition to the energy product solutions business conducted through Comverge, DSSI is a provider of computer consulting and development services, and is an authorized direct seller and value added reseller of computer hardware.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts.