Computing Technologies International, Inc. Marks Its Entry into the Worldwide Power Generation Industry; Company Completes funding arrangements with Helix Investments (Canada) Ltd., and ships its EnergiTools product.
Its first product, EnergiTools, is an interactive set of platform independent modular software tools which can be integrated into existing power plant operations resulting in improved efficiency, reduced operating costs and optimized chemical emissions. EnergiTools comes at a time of deregulation of the industry and implementation of the Clean Air Act. Its availability enables the utility company to be more competitive in the open market and conform with Clean Air Act requirements.
EnergiTools was recently chosen by Vattenfall AB of Sweden. Installation has begun at their 3500 MWe Ringhals Nuclear Power Plant. "We plan to enhance the system by integrating add-on interactive tools over time as our needs develop," said Kjell Ringdahl Of Vattenfall AB. "We believe that EnergiTools will give us an even better understanding of our process and also better ways to keep track of and improve efficiency, which translates to considerable savings in plant operation and maintenance activities. EnergiTools integrates well with our existing systems and requires only moderate training."
Helix Investments of Toronto, Canada is the sole funding partner. "CTI's unique approach to reducing the cost of making electricity presents a tremendous opportunity for the electric utility industry and for Helix," said Ben Webster, chairman and president, Helix Investments.
"The formation of our company and availability of EnergiTools comes at a very important time for electric utilities in domestic and overseas markets," said Parveen Jain, chairman and president of CTI. "In the United States, utilities are faced with service deregulation and Clean Air Act regulations. With EnergiTools, utility companies can meet the competitive and regulatory requirements of both without changing the traditional way they do business."
"Internationally, government owned electric utilities are being transferred to private ownership in increasing numbers, leading to intense competition in those markets," said Earl Thelen of CTI. "In markets that have government owned utilities, there are strict operation and maintenance guidelines with emphasis on efficiency and solutions to environmental issues. These are the catalysts which are increasing worldwide demand for the availability of new technologies and efficiency tools."
The company was formed by three versatile and seasoned Silicon Valley technology and business professionals who are intimately familiar with the electric utility industry: Dr. Parveen K. Jain, chairman and president; Earl Thelen, executive vice president, marketing and sales; and K. Jeyarasasingam, executive vice president, engineering.
CTI develops and markets productivity enhancement software that improves plant efficiency and optimizes chemical emissions for the electric utility and process industries worldwide.
CONTACT: Computing Technologies International, Inc.
Earl Thelen, 408/436-8011 ext. 214