Metretek (AMEX:MEK)
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From Sep 2019 to Sep 2024
Metretek Technologies, Inc. (Amex: MEK) announced that its
PowerSecure subsidiary has procured new contracts that are expected to
generate approximately $50 million in total revenues to PowerSecure
during 2007 and 2008.
At the customer’s request, said Sidney Hinton,
president and CEO of PowerSecure, the company is not at this time
disclosing any further information regarding the contracts.
“We have pursued this opportunity for some
time, and we are delighted to have won the business,”
said Hinton. “An order of this magnitude is a
testament to our standing within the industry and our ability to provide
our customers with compelling distributed generation solutions.”
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 release are made
within the meaning of and pursuant to 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 concerning the revenues expected
to be realized from the new business referred to in this release, the
time frame during which the anticipated revenues are expected to be
realized, and 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; and
statements of assumptions underlying 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 ability of PowerSecure to timely and successfully
complete these projects to its customers' satisfaction; the ability of
PowerSecure to obtain sufficient raw materials and equipment to fulfill
these orders on timely and commercially reasonable terms; the ability of
PowerSecure to continue to develop, expand and market its core
distributed generation products and services, to expand the scope,
markets and business segments of its offerings including its new
energy-related businesses, services and technologies, to manage its
growth and to deliver anticipated benefits to its customers; the effects
of future changes in tariff structures and environmental requirements on
PowerSecure's ability to deliver an economically viable solution;
changes in customer and industry demand and preferences; the size,
timing and terms of sales and orders and the risk of customers delaying,
deferring or canceling purchase orders or making smaller purchases than
expected; the ability of the Company to attract, retain and motivate key
personnel; the effects of competition; the ability of the Company to
secure and maintain key contracts and relationships; the effects of
pending and future litigation, claims and disputes; general economic,
market and business conditions; and other risks, uncertainties and other
factors identified from time to time in the Company's Annual Report on
Form 10-K for the fiscal year ended December 31, 2005, as well as in
subsequent filings with the Securities and Exchange Commission,
including reports on Forms 10-Q and 8-K. 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.