New Hampshire Electric Co-op Selects Comverge’s IntelliSOURCE Platform to Power Residential Time-based Pricing Pilot Program
Norcross, GA, March 15, 2012 - Comverge, Inc. (Nasdaq: COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial + Industrial (C+I) customers, today announced that New Hampshire Electric Co-op (NHEC) has selected the Comverge IntelliSOURCE platform to support its Time-based Pricing Pilot program as part of a grant awarded to NHEC by the U.S. Department of Energy. Under the Smart Grid Investment Grant, NHEC will be conducting a voluntary two year time-based pricing pilot program utilizing Comverge’s enterprise-class software platform to help manage peak demand by sending time-of-use pricing details to Comverge’s IntelliFOCUS In-Home Display (IHD) that will give its members the ability to control energy consumption based on price.
“At NHEC, we are focused on providing solutions that help our members manage their energy consumption and lower their electric bills," said Fred Anderson, President/CEO of New Hampshire Electric Cooperative. “We are excited to work with Comverge to deploy our voluntary Time-based Pricing Pilot program as we continue to explore ways to better manage peak demand.”
The IntelliSOURCE platform will integrate with both the Elster smart meter and the IntelliFOCUS IHD, enabling seamless communications across the devices. IntelliSOURCE will communicate the pricing information to an Elster smart meter, which then relays the information to IntelliFOCUS through a Zigbee network. The AMI integration also enables program participants to see on IntelliFOCUS in real-time how any change in energy consumption is impacting their electric bills.
“NHEC has a strong track record deploying programs that help members successfully control energy usage and we are pleased that it has selected Comverge to support the voluntary Time-based Pricing Pilot program,” said R. Blake Young, Comverge president and chief executive officer. “The flexible and scalable architecture of IntelliSOURCE will enable rapid integration with both the Elster AMI and Comverge’s IntelliFOCUS, which is a growing competitive advantage given the importance of device integration to a successful Intelligent Energy Management program.”
The New Hampshire Electric Cooperative (NHEC) is a member-owned and controlled electric distributor serving approximately 80,000 members in 115 towns and cities. NHEC maintains over 5,500 miles of energized line that traverse nine of the 10 counties in New Hampshire.
With more than 500 utility and 2,100 commercial customers, as well as five million residential deployments, Comverge brings unparalleled industry knowledge and experience to offer the most reliable, easy-to-use, and cost-effective intelligent energy management programs. We deliver the insight and control that enables energy providers and consumers to optimize their power usage through the industry's only proven, comprehensive set of technology, services and information management solutions. For more information, visit www.comverge.com.
Forward Looking Statements
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 are not, and should not be construed as historical facts, do not constitute guarantees of future performance and are based on numerous assumptions that, while believed to be reasonable, may not prove to be accurate. These forward looking statements include successful implementation of the program, anticipated results, expectations of future performance under the program and certain assumptions upon which such forward-looking statements are based. The forward-looking statements in this release involve a number of factors that could cause actual results to differ materially, including risks associated with Comverge's business involving our products, the development and distribution of our products and related services, regulatory changes, economic and competitive factors, our key strategic relationships, and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the information or announcements described herein.
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