SEATTLE, Wash., May 8, 2002 — Powerit Solutions announced Wednesday their commitment to providing industrial and commercial customers with a low cost, reliable solution for peak power demand management.
As power production and transmission requirements increase, peak demand charges will continue to have a significant impact on a utility customer’s monthly rates.
The Energy Directorà¢â€ž- products by Powerit Solutions enable businesses to monitor and control energy usage in real-time, reducing peak power demand and associated demand charges. Energy Director technology, developed in Sweden, has helped over 270 customers worldwide achieve immediate and sustained demand charge reductions and overall energy savings.
The Energy Director product line was designed to provide a cost effective, easily installed solution to generate real dollar savings and improve power utilization. As an energy consumer, knowledge of how you consume power and what your facilities power demand characteristics and associated demand costs are crucial. Of proposals made by Powerit Solutions in the first quarter, 2002, the average peak demand reduction was 26 percent and the average kilowatt (kW) reduction 321 per customer.
Energy Director’s technology provides multiple benefits reaching beyond the direct customer to encompass the environment as a whole. Electric power demand management results in reduced requirements for new power plants and transmission systems. Optimizing energy usage has a positive impact on the environment by lowering overall pollutants and emissions associated with most forms of power generation technologies. Power demand management stabilizes electric utility consumption resulting in reduced energy costs to industrial and commercial users.
The Energy Director was developed in Sweden in 1994, as a solution to higher energy costs in Europe. Funded by Stellar Venture Partners, Powerit Solutions, headquartered in Seattle, WA, has now made this technology available throughout North America.
About Powerit Solutions, LLC
Powerit Solutionsà¢â€ž- delivers systems for controlling power demand and reducing energy costs for commercial and industrial facilities throughout North America. The company is committed to providing energy management solutions to a wide variety of markets looking to maximize their energy efficiency, reduce their power demand and realize significant savings, including manufacturing and food processing plants, the forest products industry, sports facilities and commercial buildings.
The Energy Directorà¢â€ž- from Powerit Solutions provides intelligent energy optimization coupled with Web-based management to substantial and immediate cost savings. For more information and a product tour, please visit Powerit Solutions at www.powerit-solutions.com.
About Stellar Venture Partners
Stellar Venture Partners is the venture investment group of Stellar International Holdings, an international investment company.
Stellar’s executive management has broad experience in investing, developing and managing real estate and venture businesses in the United States and Europe. Current Stellar investments include a mix of private equity and real estate, such as the Frank Russell Building, the Pacific Place mall, Powerit Solutions and multiple other technology companies.