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(COMV, COVR, MJGCF, NGD, MFN) Featured Stock by Stock-PR.com

December 21st, 2011 at 03:30 pm

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Comverge, Inc. (Nasdaq:COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial & Industrial (C&I) customers, announced that it has been selected by Eskom, the largest electricity provider in Africa, to manage its complex supply and demand challenges by creating and co-managing Africa's first open market for demand response resources. Under the terms of the approximately $27 million agreement, Comverge will deploy the IntelliSOURCE 2.0 platform for Eskom to register, dispatch and operate a new competitive demand response market in South Africa for an initial 500 Megawatts (MWs) of demand response resources. In addition, the agreement calls for Comverge to provide at least 100 MWs directly as one of the new curtailment service providers (CSPs) serving this newly established market.

Additional Details on the South African Demand Response Deployment

This is the first client win since Comverge established its new International subsidiary in March 2011 and represents the nineteenth deployment of Comverge's IntelliSOURCE platform.

The Comverge IntelliSOURCE 2.0 platform is the industry's most advanced, enterprise-class software platform and operating environment that incorporates the insight and control needed to realize the value from a true two-way dialogue between energy providers and consumers.

This new competitive market for demand response resources will help optimize energy usage in South Africa by creating and fostering new demand response companies within the country.

The scalability and flexibility of the Comverge IntelliSOURCE 2.0 platform across multiple customer classes will allow Eskom to accurately evaluate the potential for commercial, industrial and residential demand response programs in the country.

The terms of the contract are for a pilot program scheduled to run through March 31, 2013.

To support the partnership with Eskom, Comverge will open a new office in Johannesburg, South Africa.

With more than 500 utility and 2,100 commercial customers, as well as five million deployed residential devices, Comverge brings unparalleled industry knowledge and experience to offer the most reliable, easy-to-use, and cost-effective intelligent energy management programs. We deliver the insight and control that enables energy providers and consumers to optimize their power usage through the industry's only proven, comprehensive set of technology, services and information management solutions.

More about COMV at www.comverge.com



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