Able Energy, Inc. Engages PricewaterhouseCoopers Securities.Business Editors ROCKAWAY Rockaway, narrow peninsula, c.10 mi (16 km) long, SW Long Island, SE N.Y., in Queens borough of New York City. Separating Jamaica Bay from the Atlantic Ocean and isolated from the rest of New York City, the densely populated peninsula owes its growth to road and rail , N.J.--(BUSINESS WIRE)--March 15, 2001 Able Energy, Inc. ("Able") today announced that it has engaged PricewaterhouseCoopers Securities LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("PwCS") as its exclusive financial advisor. PwCS will act as exclusive financial advisor to Able's subsidiary, PriceEnergy.Com, Inc. ("PriceEnergy"), which is a growing e-commerce based distribution channel for liquid fuels and services. PriceEnergy has conducted a very successful Beta Test A test of new or revised hardware or software that is performed by users at their facilities under normal operating conditions. Beta testing follows alpha testing. Vendors of packaged software often offer their customers the opportunity of beta testing new releases or versions, and the phase and is convinced that this process will revolutionize the sale and distribution of home heating oil and diesel fuel on-line. This site ensures the completion of the proverbial "last-mile" of distribution, which is so integral to e-commerce success. Price Energy is the first fully integrated company to successfully market retail fuel products on-line and provides the best available price. By utilizing its end-to-end proprietary web technology, PriceEnergy intends to achieve cost leadership and create a competitive advantage in the industry. Timothy Harrington, Able's Chief Executive Officer, stated, "PwCS's confidence in Able and in Price Energy further validates our business model and reinforces the PriceEnergy concept. "Customers have become very sensitive to the high cost of home heating fuel, and Price Energy offers the consumer a way to save on their heating bills." PwCS will assist Able and PriceEnergy in updating its business plan, preparing a private placement memorandum private placement memorandum The documentation that provides information on a new security issue. It is similar to but less extensive than a prospectus. , and will act as placement agent for potential financing. PriceEnergy is seeking approximately $15 million, in this round of funding, to support the expansion of the business throughout the Northeast. Able successfully completed its initial public offering of common stock on June 25, 1999. Able is a holding company for six operating subsidiaries, including PriceEnergy, that are engaged in the retail sale, distribution, and provision of services to customers using home heating oil, diesel fuel, and propane gas. In addition, Able provides 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 sales, installation, maintenance, 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , 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. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion