Able Energy, Inc. Develops E-commerce Based Distribution Site.Business/Technology Editors ROCKAWAY, N.J.--(BUSINESS WIRE)--May 1, 2000 Able Energy, Inc. ("Able") today announced that it is developing an Internet solution that should revolutionize the sale and distribution of energy products on-line. Version 1.0 of this application should be released later this quarter. It is anticipated that Version 1.0 will be able to support Internet based revenue from its inception. Able has retained Burntsand, Inc., an e-solutions consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a to develop the new site. Burntsand is considered the foremost creator of energy exchanges in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Timothy Harrington, Able's Chief Executive Officer, stated, "the development of the site will allow us to exploit the commercial opportunities that exist on the Internet. People shop for all types of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. on the Internet. Shopping for energy products should be no different. In today's economy a company cannot be purely brick and mortar See bricks and mortar. , nor can it be purely Internet based. We believe that with our new Internet See Web 2.0 and Internet2. site we will strike a perfect balance as a "Click and Mortar" company." To complete its distribution network, Able will be approaching other companies in this sector to compliment its own distribution abilities. Mr. Harrington commented that such a business model "may be the perfect way to turn competitors into partners. By combining the resources of an unlimited number of companies we can provide services and prices that could not be provided by any one energy company". Able successfully completed its initial public offering of common stock on June 25, 1999. The offering consisted of 1 million shares of common stock at an initial offering price of $7.00 per share. Able is a holding company for five operating subsidiaries, which are engaged in the retail distribution of, and the provision of services relating to, home heating oil, diesel fuel, propane gas and natural gas. Able also offers complete HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free installation and repair. Able's common stock is traded on the Nasdaq Small Cap Market under the Symbol "ABLE" and on the Boston Stock Exchange The Boston Stock Exchange (BSE) is a regional stock exchange located in Boston, Massachusetts. The third-oldest stock exchange in the United States, it was founded in 1834. On October 2nd, 2007 Nasdaq agreed to acquire BSE for $61 million. under the Symbol "AEI AEI American Enterprise Institute AEI Archive of European Integration AEI Australian Education International AEI Automotive Engineering International AEI Australian Education Index AEI Albert Einstein Institute ". The statements contained in this Press Release contain certain forward-looking statements, including statements regarding Able and its subsidiary's expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Able's management as at the date hereof and actual results may vary based upon future events, both within and without the control of the Able's management. |
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