FLORHAM PARK, N.J., May 15, 2002 — Comverge Technologies, Inc., a subsidiary of Data Systems & Software Inc., announced Monday its acquisition of Reliant Energy HL&P’s “Energy Partners Program,” an energy conservation program serving approximately 50,000 residential customers in the greater Houston area.
The turnkey demand-side program, which Comverge has renamed, “The Texas Energy Partners Program,” can provide 70MW of Virtual Peaking Capacityà¢â€ž- to meet electricity demand during peak power periods and up to 160 MW under emergency conditions. Specific terms of the transaction, through a newly formed subsidiary of Comverge, were not disclosed.
Robert M. Chiste, Chief Executive Officer of Comverge stated, “This is truly a breakout project for Comverge, which will begin generating a strong cash flow for the remainder of 2002 and continue generating recurring revenues into the future.”
Joseph Lopez, Vice President, Customer Services, at Reliant Energy HL&P, stated, “As a result of deregulation requirements, Reliant Energy sought out a company with long-term load control expertise that could continue to provide the valuable load management capacity we had developed over the last several years. Comverge Technologies brings to this market the innovative business acumen required to own and operate an existing load control program. We are pleased that this successful program will be continued, particularly under an organization like Comverge. This program can provide significant benefits to electricity consumers in the Houston metropolitan area.”
Chiste continued, “We believe that Comverge’s operation of its newly acquired system will be an important component in managing the ever increasing peak power requirements in Texas. Our Enterprises group intends to develop similar opportunities throughout the US.”
As deregulation issues continue to shape and change the Power Technology and Energy Intelligence markets, Comverge continues to emerge as The Power in Power Technologyà¢â€ž- with End-to-End Energy Intelligenceà¢â€ž- solutions.
About Reliant Energy
Reliant Energy, based in Houston, Texas, is an international energy services and energy delivery company with approximately $42 billion in annual revenue and total assets exceeding $35 billion. The company has nearly 31,000 megawatts of power generation in operation in the U.S. and is one of the largest marketers of both power and natural gas in North America. The company also has wholesale trading and marketing operations and nearly 3,500 megawatts of power generation in Western Europe. Reliant Energy’s retail marketing and distribution operations serve nearly five million electricity and natural gas customers in the U.S. More information on Reliant Energy can be found on its web site at www.reliantenergy.com.
Comverge Technologies Inc. has more than 500 utility clients accounting for 5 million end-use devices, in 15 countries around the globe. Comverge has offices, research facilities, representatives and agents located worldwide. For more information visit www.comverge.com.
In addition to the energy management solutions business conducted through Comverge, Data Systems & Software is a provider of computer consulting and development services, and is an authorized direct seller and value added reseller of computer hardware. Through its DSIT subsidiary, DSSI provides IT solutions.