Metretek (AMEX:MEK)
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From Jan 2020 to Jan 2025
Metretek, Incorporated ("Metretek Florida"), a
subsidiary of Metretek Technologies, Inc. (AMEX:MEK), reported that
it has won several new orders for InvisiConnect(TM), its cellular IP
communication and control system for machine-to-machine (M2M)
applications. The orders, which total approximately $625,000 in
anticipated revenues to Metretek Florida and are expected to be 90%
completed in 2006, represent new customers in two market segments --
electric utilities and transportation -- new to the company.
Among the new customers is a large Mid-West electric utility that
has placed an order for a complete InvisiConnect system consisting of
InvisiConnect Enterprise Server software, InvisiConnect Mobile Server
software, and 1000 Client Network Interface (CNI) field devices. Dan
MacDonald, vice president of Sales for Metretek Florida, noted that
the utility will take advantage of Metretek's ability to provide the
CNI for GSM and CDMA networks. "This sale represents success in the
primary market we targeted when we initially envisioned
InvisiConnect," said MacDonald. "It is gratifying indeed, and we
anticipate that it will set a precedent for other utilities needing a
secure, high-value M2M solution."
According to Joe Harley, Metretek Florida's vice president of
Business Development, included in the new business are orders destined
for state and local Departments of Transportation (DOTs). "They were
generated by new sales-channel partners and indicate that
InvisiConnect is gaining traction in a variety of DOT applications --
including variable-message signs, traffic-light controllers, and
school-zone and highway advisory radio beacon systems. These orders,
which stem from our efforts to build distribution in new markets,
support our belief that InvisiConnect has the potential to become a
formidable player in the large and growing M2M marketplace," said
Harley.
About Metretek Technologies:
Metretek Technologies, Inc. through its subsidiaries -- Southern
Flow Companies, Inc.; PowerSecure, Inc.; and Metretek, Incorporated
(Metretek Florida) -- is a diversified provider of energy measurement
products, services and data management systems to industrial and
commercial users and suppliers of natural gas and electricity.
Safe-Harbor Statement:
All forward-looking statements contained in this press release are
made within the meaning of and under the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements are all statements other than statements of historical
facts, including but not limited to statements regarding the expected
completion of the $625,000 in new orders to Metretek Florida and the
ability of InvisiConnect to penetrate the M2M marketplace, all other
statements concerning the plans, intentions, expectations,
projections, hopes, beliefs, objectives, goals and strategies of
management, including statements about other future financial and
non-financial items, performance or events and about present and
future products, services, technologies and businesses, as well as
statements of assumptions underlying any of the foregoing.
Forward-looking statements are not guarantees of future performance or
events and are subject to a number of known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially from those expressed, projected or implied by such
forward-looking statements. Important risks, uncertainties and other
factors include, but are not limited to, the Company's ability to
maintain sufficient capital and liquidity on favorable terms to meet
its operating, working capital and debt service requirements and other
capital commitments and contingencies and to fund the growth of its
business; the timely and successful development, production and market
acceptance of new and enhanced products, services and technologies of
the Company; the ability of PowerSecure to develop and expand its core
distributed generation and its new energy-related businesses, services
and technologies, to manage its growth and to address the effects of
any future changes in tariff structures and environmental requirements
on its business solutions; effects from time to time of hurricanes and
other severe weather conditions on the demand for Southern Flow's
products and services; the ability of Metretek Florida to successfully
develop and expand its products, service, technologies and markets;
the effects of competition; changes in customer and industry demand
and preferences and purchasing patterns; the Company's ability to
attract, retain and motivate key personnel; the ability of the Company
to secure and maintain key contracts, relationships and alliances and
to make successful acquisitions; the effects of pending and future
litigation, claims and disputes; changes in the energy industry
generally and in the natural gas and electricity industries in
particular, including price levels; general economic, market and
business conditions; the effects of international conflicts and
terrorism; and other risks, uncertainties and other factors identified
from time to time in the Company's reports and filings with the
Securities and Exchange Commission. Accordingly, there can be no
assurance that the results expressed, projected or implied by any
forward looking statements will be achieved, and readers are cautioned
not to place undue reliance on any forward-looking statements. The
forward-looking statements in this press release speak only as of the
date hereof and are based on the current plans, goals, objectives,
strategies, intentions, expectations and assumptions of, and the
information currently available to, management. The Company assumes no
duty or obligation to update or revise any forward-looking statements
for any reason, whether as the result of changes in expectations, new
information, future events, conditions or circumstances or otherwise.