FLORHAM PARK, N.J., July 30, 2002 — Comverge Technologies Inc. has formed an exclusive alliance with Xanboo Inc.
Xanboo’s investors include Motorola, Inc., Globespan Virata, Inc. and Lantronix, Inc. The Comverge/Xanboo alliance was created to offer the first end-to-end solution for advanced load curtailment, automated meter reading (AMR), local and remote video monitoring, and appliance/device control and diagnostics, to North America’s electric, gas, and water utilities and their ultimate customers.
Comverge and Xanboo will jointly develop energy intelligence-related products. In addition, Comverge has been designated as Xanboo’s exclusive seller/reseller of Home Automation and Monitoring devices to North American utilities.
This new alliance combines proven Comverge technology, including the award winning Maingateà¢â€ž- price-responsive load curtailment and automated meter reading (AMR) solutions, with Xanboo’s patented technology for controlling devices over the Internet in real time. For the first time, utilities can offer their commercial and residential customers an end-to-end product line of integrated, advanced services.
The comprehensive line of Xanboo wireless sensors, controls, and web video cameras, along with a broadband portal interface, enhances Comverge’s Maingateà¢â€ž- two-way energy gateway services and is introduced as a new line of Comverge branded home automation products called, Maingateà¢â€ž- Lookouts.
Robert M. Chiste, Chief Executive Officer of Comverge, stated, “This agreement exemplifies our commitment to focus on and expand our Maingateà¢â€ž- interactive systems, while adding an extensive new revenue opportunity within the nascent, value-added market of ancillary services to our core utility markets. The addition of our new Maingateà¢â€ž- Lookouts product line further demonstrates Comverge’s strategy of leveraging our broad existing customer base into new, high-growth, value-added revenue streams.”
Bill Diamond, President of Xanboo, Inc., stated, “With deregulation continuing to shape and change the electric utility marketplace, utilities are searching for broadband services to increase customer satisfaction, maintain customer loyalty, and add new revenue streams. The completely modular aspect of the Comverge-Xanboo product offering enables utilities to offer a technology migration path from core AMR and load curtailment to an entire end- to-end home management system.”
“The truly exciting thing,” Diamond commented, “is that all of this technology is available immediately. This is not a positioning statement. These are real products that are award-winning, cost-effective, and ready to ship.”
Chiste added, “Earlier this year, Comverge was named the most promising company at Energy Venture Fair II—a forum organized to bring emerging companies in the energy sector together with an audience of more than 300 professional investors, venture capitalists, equity partners, investment banks and utility companies. It’s a great opportunity to be in an alliance with Xanboo, the company that won the same award last year at Energy Venture Fair I. Great things are sure to happen when two award-winning entrepreneurial companies come together to deliver high-quality, advanced energy intelligence solutions to utilities. Comverge continues to demonstrate its commitment to value creation for its customer base and investors.”
About Maingateà¢â€ž- Lookouts
Maingateà¢â€ž- Lookouts enable the utility’s broadband customers to take advantage of remote video monitoring and device control for thermostats, lighting systems, pool heaters, sprinklers, door locks, garage doors, and other common household appliances. In addition, acoustic and water/flood sensors are currently available, with additional sensors to be developed. Utility customers have access to their own web interface account with historical data, so they can remotely monitor and manage their home’s energy consumption and track their energy usage by date, by device, and over a specified period of time.
Comverge Technologies, Inc., The Power in Power Technologyà¢â€ž-, has more than 500 utility clients, accounting for over five million end-user devices, in 15 countries. Comverge has offices, research facilities, representatives and agents located worldwide. Comverge’s End-to-End Energy Intelligenceà¢â€ž- software suite, PowerCAMPà¢â€ž-, combined with its field-proven hardware development and manufacturing expertise, enables scalable information infrastructures-custom-designed to meet the needs of recently’s innovative energy suppliers.
Comverge Technologies group provides integrated, full-spectrum solutions for direct or voluntary load control programs, remote meter reading, price-responsive programs, time-of-use billing, distributed generation monitoring, theft/outage detection and more. Comverge Enterprises group provides innovative business solutions including owned and operated systems, negawatt power purchase agreements, and joint ventures. For more information visit www.comverge.com.
Xanboo, Inc. offers a smart home management system with real- time video notification and device controls that enable users to control and monitor their homes or businesses, from anywhere in the world via the Internet.
This technology enables a connection over the Internet via a gateway, PC or cable set top box, in the home or business. Xanboo designs and engineers all Xanboo Home Internet Management System hardware and software, including video cameras, sensors, and control devices. Xanboo is headquartered in New York City where its executive management team leads its marketing, sales, software and Web site design and engineering divisions.
About Data Systems & Software
In addition to the energy management solutions business conducted through Comverge, Data Systems & Software Inc. 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. For additional information on DSSI, visit: www.dssiinc.com or www.nfnonline.com/dssi. For additional information on DSIT, visit www.dsi.co.il.