Comverge Technologies Inc. Recognized in Florida Governor's New Product Award.Business Editors/Hi Tech Writers FLORHAM PARK, N.J.--(BUSINESS WIRE)--June 7, 2001 Comverge Technologies, Inc. today announced that its Maingate(R) gateway system was recognized for excellence in association with Gulf Power's GoodCents Select energy management program. Gulf Power was recently awarded the Florida Governor's New Product Award for 2001, which recognizes the quality, innovation and economic contribution of new products. Gulf Power is using Comverge's MainGate gateway product to implement its award winning GoodCents Select program. The GoodCents Select program allows customers to trim their energy bills by shifting their usage from peak electricity demand periods-such as hot summer afternoons when the price for electricity is higher-to low demand periods, such as evenings and weekends, when prices are lower. MainGate employs a two-way communications gateway and a smart thermostat thermostat, automatic device that regulates temperature in an enclosed area by controlling heating or refrigerating systems. It is commonly connected to one of these systems, turning it on or off in order to maintain a predetermined temperature. from Honeywell to communicate with and respond to pricing signals from the utility. The MainGate system allows the utility customer to program an automated response to the pricing signal, allowing the customer to curtail air conditioning air conditioning, mechanical process for controlling the humidity, temperature, cleanliness, and circulation of air in buildings and rooms. Indoor air is conditioned and regulated to maintain the temperature-humidity ratio that is most comfortable and healthful. during peak demand, high priced periods and shift use to lower demand, lower priced periods. The customer can also manually override the automated settings to maintain a desired temperature in peak periods. The system also allows the customer to set their heating and hot water systems and pool pumps from the thermostat interface to automatically take advantage of lower cost periods. "We see the need throughout the nation for residential real time pricing to combat high energy costs. Utility executives have estimated the potential annual nationwide electricity-cost savings from real time pricing to be billions of dollars," stated Frank Magnotti, President of Comverge. "Implementation of our Maingate system allows customers to save money and eases the strain on power systems, while preserving consumer choice." Comverge Technologies, a subsidiary of Data Systems & Software Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DSSI DSSI Diversified Scientific Services, Inc. DSSI Digital Storage Systems Interconnect DSSI Dead Sea Scrolls Institute (Trinity Western University, Canada) DSSI Digital Small Storage Interconnect ), is the "new power in power technologies" providing over 5000 MW of peak load reduction to over 450 energy companies worldwide. Comverge provides end-to-end, two-way communication solutions including automated meter reading, utility and/or customer controlled appliance cycling, outage out·age n. 1. A quantity or portion of something lacking after delivery or storage. 2. A temporary suspension of operation, especially of electric power. detection, load profiling, home automation, environmental monitoring and distributed generation Distributed generation generates electricity from many small energy sources. It has also been called also called on-site generation, dispersed generation, embedded generation, decentralized generation, decentralized energy or monitoring. Comverge is headquartered in Florham Park, NJ, with offices, research facilities, representatives and agents around the world. For more information visit Comverge's website at www.comverge-tech.com. In addition to the energy product solutions business conducted through Comverge, DSSI is a provider of computer consulting and development services, and is an authorized direct seller and value added reseller See VAR. (company) value added reseller - (VAR, or "value added retailer") A company which sells something (e.g. computers) made by another company (an OEM) with extra components added (e.g. specialist software). of computer hardware. This release contains 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. as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets , financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts. |
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