Acorn Factor Equity Affiliate, Comverge, Inc., Announces 62 mw Virtual Peaking Capacity Contract with Public Service Company of New Mexico.MAHWAH, N.J. -- Acorn Factor, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ACFN ACFN American Council for Fitness and Nutrition ) announced today that its equity affiliate, Comverge, Inc., a leading provider of clean energy solutions through demand response, announced it has entered into an new Virtual Peaking Capacity (VPC (1) (Virtual Processor Complex) An IBM mainframe multiprocessing system that uses several computers under tight central control. (2) See Virtual PC. ) agreement with Public Service Company of New Mexico New Mexico, state in the SW United States. At its northwestern corner are the so-called Four Corners, where Colorado, New Mexico, Arizona, and Utah meet at right angles; New Mexico is also bordered by Oklahoma (NE), Texas (E, S), and Mexico (S). (PNM PNM Public Service Company of New Mexico PNM People's National Movement (Trinidad) PNM Perpustakaan Negara Malaysia (National Library, Malaysia) PNM Price Negotiation Memorandum ) to provide up to 62 megawatts of electric capacity. The agreement is subject to approval by the New Mexico Public Regulation Commission. Under the VPC program, which will be marketed to PNM residential and small commercial customers, Comverge will install, own and operate for the benefit of PNM a demand response load management system that will encourage energy efficiency as mandated by the New Mexico Efficient Use of Energy Act and help assure energy reliability during times of peak demand. This fully outsourced, pay-for-performance, program will allow PNM to call upon needed capacity that can be dispatched within five minutes throughout the designated service territory. Robert M. Chiste, Chief Executive Officer of Comverge, stated, "With this VPC agreement, the fifth of its kinds, Comverge has over 310 megawatts of capacity under contract. We are indeed excited to have the opportunity to bring the same cost-effective and environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] demand response solution to PNM and its customers as is currently enjoyed by over 500 Comverge customers throughout 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. ." PNM Sr. Vice President Doug Hobbs stated, "We consider the Comverge VPC solution as an important step in PNM's goal of becoming a national leader in renewable energy in furtherance of our policy of environmentally sustainability. Demand response provided by Comverge not only will provide PNM with capacity when it is needed the most; it does so without the release of nitrogen oxide or sulfur and carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions." About Comverge Comverge is a leading provider of clean energy solutions that improve grid reliability and enable utilities to increase available electric capacity through reduced energy consumption during periods of peak energy demand on a more cost-effective basis than conventional alternatives. For more information, visit www.comverge.com. "Virtual Peaking Capacity" and "VPC" are trademarks of Comverge, Inc. About Acorn Factor Acorn Factor, Inc., formerly Data Systems & Software Inc., is a holding company which currently maintains an equity position in Comverge, Inc. - a leading provider of clean energy solutions that enhance grid reliability and enable electric utilities to increase available electric capacity. ACFN also owns an interest in Paketeria GmbH and a controlling position in dsIT. Additional information about Acorn Factor and its subsidiary and equity affiliates is available at www.acornfactor.com, www.dsit.co.il, www.comverge.com and www.paketeria.de. |
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