DENVER, March 30, 2004 (PRIMEZONE) -- Nighthawk Systems, Inc. (OTCBB:NIHK), a provider of intelligent remote power control equipment and services, today announced that it has received additional orders from two of its existing electric utility customers, Duquesne Light Company and the City of Roseville, California.
Duquesne Light Company is the principal subsidiary of Duquesne Light Holdings, which is traded on the New York Stock Exchange and provides electric energy to other utilities and 580,000 direct customers in southwestern Pennsylvania. In contrast, Roseville is a progressive city that provides electric services directly to customers through Roseville Electric, a municipal-owned service provider, rather than contracting for such services with a private company. Roseville designs and installs electrical service to new residential subdivisions and businesses, and manages conservation and load management programs.
Duquesne is purchasing Nighthawk's PT1-LC load control units in a second order from Nighthawk as part of its overall load control initiative. Roseville is making a second purchase of Nighthawk's CEO-700 whole-house disconnect units, in part to deal more effectively with troubled accounts.
Nighthawk products are already deployed in over 40 utilities across the United States. "These orders are significant," Myron Anduri, Nighthawk's President said, "because they confirm that our products are working effectively for our customers by saving them money and demonstrate the significant growth potential in repeat orders from existing customers in the electric utility market for our Company. These orders also show that both large, private utilities and small, municipal-owned utilities derive benefits from using our products."
Nighthawk recently announced that it has accepted an offer from First Associates Investments Inc. to assist it in completing an initial public offering. Net proceeds from the offering will be used primarily to expand the Company's sales and marketing of its remote power control equipment to both existing and new customers.
The CEO-700 is based on Nighthawk Systems proprietary remote control technology that uses commercial paging or satellite service for activation. The CEO700 was designed specifically for electric utilities and allows for remote control of power at the meter. It allows electric utilities to connect and disconnect residential power remotely, avoiding the need to send personnel to the location. This greatly minimizes the typically high costs associated with electrical service disconnect and reconnect. Nighthawk currently has a patent pending on the CEO-700 product.
The PT1-LC is an advanced remote control switch that utilizes paging signals on commercial or private networks for wide area control of residential and commercial loads. It is shipped completely pre-programmed by Nighthawk and does not require any additional infrastructure for use by the customer. It will control three relay outputs, which can be set to time delay or to latch until commanded.
About Nighthawk Systems, Inc.
Nighthawk Systems, Inc. designs and manufactures easy to use 'plug and play' products that can remotely control virtually any electrical device from any location. Nighthawk products are easily installed and operated by anyone, regardless of technical capability. Nighthawk services customers in a variety of markets including electric utilities, traffic control, computer systems, commercial lighting, and irrigation. For more information visit www.nighthawksystems.com.
Forward-looking statements.
Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward- looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information.