Celerity Energy acquires Reliable Power Co.

PORTLAND, Ore., Aug. 8, 2002 — Celerity Energy has acquired Reliable Power Co. Reliable Power Company is a distributor of power-related products and an experienced systems integrator.

“By combining Celerity’s expertise in networking standby distributed generation with Reliable Power’s products and services, we’ve created a winning combination,” said David Hoffman, Celerity Energy CEO. “Through the addition of Reliable Power’s generation and power quality equipment Celerity can offer customers a total networking solution.”

Celerity Energy, founded in 1999, provides value to both energy suppliers and end-users by managing distributed energy resources. Distributed resources include loads that can be controlled and reduced, as well as stand-alone generators found in many commercial buildings and industrial facilities to provide emergency power should a utility power outage occur.

By networking and remotely controlling these underused assets as part of a Networked Distributed Resource (NDR) facility, Celerity offers utilities access to additional energy resources when needed. Owners of the stand-by generators benefit through on-going maintenance of their units and assurance that they will operate as designed in emergency situations.

“We believe the acquisition of Reliable Power Company by Celerity Energy is the right next step for both companies. I am very excited about the possibilities,” said Nels Gabbert, founder of Reliable Power and new Celerity Energy board member.

Vance Peterson, vice president of Reliable Power said, “This will allow us to leverage our ten years of experience into new applications and new markets. The distributed resources arena is one that has interested us for a long time.”

Celerity Energy and Reliable Power Company are already collaborating on a demonstration project for the Bonneville Power Administration to initially network a number of small generating sites and controllable loads among Bonneville’s customers.

Reliable Power Company became a wholly owned subsidiary of Celerity Energy July 29, 2002.

Celerity Energy, Portland, Ore., was founded in 1999 and is one of the first companies in the U.S. to tap the aggregated potential of distributed generation. It identifies and networks independent distributed generation resources and controllable load and in turn provides peaking energy and other system benefits to electric utilities and power marketers and energy services to electric power users throughout the world.

In January 2001, the company announced the first commercial distributed resource power project in the western United States in partnership with Public Service Company of New Mexico. www.celerityenergy.com

Reliable Power Company, Inc., founded in 1990, offers power reliability solutions on a turnkey basis. It sells a full line of power related equipment, including standby power generation, uninterruptible power supplies and transient voltage surge suppression. In addition it is a full service provider of power solutions including assessment and design, procurement and installation, and maintenance and repair service.

Reliable Power Company has recently developed the Automated Generator Asset Management Controller (AGAM), a standby power management tool that can more than double the length of time a remote communications site can operate off a limited fuel supply during a power failure. www.reliablepowercompany.com

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