MELBOURNE, Fla., July 12, 2002 — Metretek, Incorporated, a Florida-based subsidiary of Metretek Technologies, Inc. (Nasdaq:MTEK), announced that it has received an order, valued at approximately $870,000, for several hundred electronic gas volume correctors from a major utility in the Northeast.
According to Thomas R. Kellogg, president and CEO of Metretek, Incorporated, the order provides additional evidence of growing market acceptance of the company’s natural gas instrumentation products. “For some time the utility has purchased our automatic meter reading (AMR) devices,” said Kellogg. “With this order, the utility will upgrade its system by replacing older pulse recorders — as well as existing volume correctors supplied by a competitor — with a single corrector unit that communicates directly with a proprietary host-computer-based software system supplied by Metretek, Incorporated.”
Electronic gas volume correctors are typically fitted to custody transfer meters installed at industrial and commercial customer locations. They provide flowing gas pressure and temperature compensation, thereby facilitating accurate billing of actual gas consumption. When coupled with Metretek, Incorporated’s DC2000 data collection and management software system (which features a relational database built on Microsoft’s SQL 2000 client/server software along with powerful data collection and processing engines), the 6000 Series correctors are designed to ensure a seamless integration of data and unsurpassed programming flexibility.
Metretek Technologies, Inc., through its subsidiaries — Metretek, Incorporated; Southern Flow Companies, Inc.; and PowerSecure, Inc. — is a diversified provider of energy measurement products, services and data-management systems to industrial and commercial users and suppliers of natural gas and electricity. Additional information about Metretek, Incorporated’s products and services can be found at www.metretekfl.com.