Eon (NYSE:EON)
Historical Stock Chart
From Jan 2020 to Jan 2025
Comverge Announces 30 MW Expansion of Virtual Peaking
Capacity(TM) Portfolio
EAST HANOVER, N.J., June 28 /PRNewswire/ -- Comverge, Inc. announced today
that it has added an additional 30 MW of capacity to its Virtual Peaking
Capacity(TM) (VPC(TM)) contract portfolio through the expansion of an existing
contract. The first fully-outsourced business model of its kind to receive
regulatory approval in 3 states, the VPC(TM) programs target residential and
small business customers in a utility's service area in order to reduce peak
load.
Entirely owned and operated by Comverge, the programs provide much needed
relief to strained grid conditions during peak summer months by cycling
participants' central air conditioning units. Concentrated on direct load
control for the present, the programs are built on migratable technology that
provides the foundation for a future thermostat-based price-responsive program.
Frank Magnotti, President and COO of Comverge's Enterprises Group, stated "We
are very pleased with the recent regulatory approval of this expansion. We feel
that the confidence regulators have placed in our experience and migratable
technology speak to the proven reliability and effectiveness achievable through
our programs. We look forward to implementing this fully outsourced residential
load management system and working with our clients to achieve outstanding
results for tomorrow, today."
About Comverge, Inc.
Comverge, Inc., The Power in Power Technology(TM), is a leading energy
intelligence company recently recognized as one of Red Herring's Top 100
Private Companies in North America for 2005. Comverge's investors include Nth
Power, EnerTech Capital, Data Systems & Software, Inc. (OTC: DSSI) (BULLETIN
BOARD: 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 http://www.comverge.com/.
Media Contact
At Comverge, Bud Vos, Vice President of Marketing, 973.884.5970,
DATASOURCE: Comverge, Inc.
CONTACT: Bud Vos, Vice President of Marketing, Comverge,
+1-973-884-5970,
Web site: http://www.comverge.com/