DENVER, Colo., Sept. 19, 2001– Metretek Technologies, Inc. today announced that PowerSecure, Inc. has recently been awarded a contract from a large industrial customer to design and install a distributed generation project. The value of the contract is approximately $500,000.
“It is gratifying to announce this project,” said Sidney Hinton, president and CEO of PowerSecure. “We have built a team that excels in execution, and we are rapidly building a reputation for operational excellence as well. This customer has been extremely pleased with our ability to develop a solution that is unique to their specific situation. Additionally, the customer has numerous other sites in North America and has requested PowerSecure’s assistance in reviewing the various sites to ascertain which additional sites would benefit – both operationally and economically – from distributed generation.”
“PowerSecure, which is doing exceptionally well in its first year of operation, has quickly proven its ability to engineer and market DG solutions,” added Phil Marcum, president and CEO of Metretek Technologies. “Their success in delivering projects on time and within budget is building strong momentum for another good year in 2002.”
Distributed generation involves the design and construction of electric generation equipment and controls directly within a commercial or industrial customer’s facility. The onsite equipment provides the customer’s plant with supplemental and backup power generation capacity, and, in many cases, may also provide the customer with stable power quality and a real-time means by which to mitigate electricity price spikes such as those currently being seen across the country.
Metretek Technologies, Inc. through its subsidiaries – PowerSecure, Inc.; Metretek, Incorporated; and Southern Flow Companies, Inc. – is a diversified provider of energy technology products, services and data management systems to industrial and commercial users and suppliers of natural gas and electricity.