Comverge, Inc. Announces Funding of $13.6 Million Series "B" Preferred Financing Round
Rockport Capital Leads Round As New Investor; "Hap" Ellis to Join Board
EAST HANOVER, NJ, October 28, 2004 – Comverge, Inc., a leading provider of "intelligent" power
management solutions serving hundreds of North America's electric utilities, announced the closing of its
Series "B" Preferred Share financing round. The company drew significant support with new investment
totaling approximately $13.6 million. Lead by Rockport Capital Partners, the investor syndicate includes
previous investors Nth Power, EnerTech Capital Partners, NorskHydro Ventures, and Ridgewood Capital.
Robert M. Chiste, Comverge's Chairman and CEO stated: "We are extremely pleased to have earned the
continued support and confidence of such a range of investors. This additional funding will enable us to
strengthen our market position and will support further growth and development in our Demand
Response, Load Management, AMR, and Virtual Peaking CapacityTM solution-based offerings."
Comverge also announced that Mr. Alexander "Hap" Ellis, a Partner of Rockport Capital Partners, will join
its Board of Directors. "Hap's extensive industry experience coupled with his enthusiasm and drive would
make him an asset to any Board, and Comverge is fortunate to have him as part of our team," said
Ellis, equally positive about the opportunity, stated "Rockport has seen Comverge successfully execute on
both its traditional business and its new Virtual Peaking CapacityTM offering over the last several years.
We are very excited about leading this funding round as a new investor and share the optimism and
confidence of Comverge's entire investor base that the company will continue to create extraordinary
shareholder value by leading their industry in innovation and solutions-based services. I look forward to
participating as a Board Member and being a part of the inspiring growth we see in Comverge."
About Comverge, Inc.
Comverge, Inc., The Power in Power TechnologyTM, 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.
About Rockport Capital Partners
Rockport Capital Partners is a venture capital firm based in Boston, MA that invests in companies in the
energy, environmental and advanced materials sectors. The firm is committed to companies with
breakthrough technologies that deliver significant economic value to large potential markets. For more