NORCROSS, Ga., Jan. 18, 2012 (GLOBE NEWSWIRE) -- Comverge, Inc. (Nasdaq:COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial & Industrial (C&I) customers, today announced that it has partnered with Ransome CAT, a Caterpillar dealer, to offer demand response services to Ransome CAT's clients that use its energy generation services. By partnering with Ransome CAT, Comverge will be able to provide distributed energy resource capacity to help the state of Pennsylvania address the energy efficiency and demand response targets mandated by Pennsylvania Act 129. Pennsylvania's Act 129 requires utilities to develop plans to reduce electricity consumption by 1 percent by 2011 and by 3 percent by 2013. Additionally, the Act requires a 4.5 percent reduction in peak demand by 2013.
"We are one of largest and oldest family owned companies in the tri-state area and are always looking for ways to provide our commercial and industrial customers with the highest possible level of service," said Kristin Bromley, President, Ransome Engine. "Many of our customers work in energy intensive industries and we wanted to be able to provide them with a proven solution for reducing energy costs. By partnering with Comverge, we are now able to help our customers reduce energy costs, while also giving them the opportunity to increase revenues by participating in an industry-leading demand response program."
Headquartered in Bensalem, Pennsylvania, Ransome CAT employs more than 550 employees at 10 locations throughout the tri-state area. Comverge engineers worked closely with the Ransome CAT Power Systems team to integrate a comprehensive demand response service with Ransome CAT's existing energy generation services. The new integrated service allows Ransome CAT to further differentiate its energy generation services by offering its customers access to comprehensive demand response solutions from Comverge.
"By partnering with the Ransome CAT Family of Companies, we can build on our strong momentum in Pennsylvania to offer demand responses services to a new market," said George Hunt, Senior Vice President, C&I Sales, Comverge. "We look forward to working closely with Ransome CAT to help its customers understand how to leverage these new demand response services to generate incremental revenues by reducing energy demand during peak times."
About The Ransome CAT Family of Companies
Ransome CAT is the largest division of the Ransome Family of companies. The Ransome Family of Companies is headquartered in Bensalem, Pennsylvania and operates 10 locations throughout the Delaware Valley and employing over 600 people. Ransome CAT, the franchise dealer for CAT products, parts & services for the Delaware Valley, Lehigh Valley, Southern New Jersey and Northern Delaware. The Ransome Family of Companies also operates Ransome International, a Navistar Franchise headquartered in West Chester, Pennsylvania and Perkins Power Northeast, a Perkins Master Distributor from Maine to West Virginia. For more information visit www.ransome.com.
About Comverge
With more than 500 utility and 2,100 commercial customers, as well as five million residential deployments, 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. For more information, visit www.comverge.com.
Caution Regarding Forward Looking Statements
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this release are not and do not constitute historical facts, do not constitute guarantees of future performance and are based on numerous assumptions that, while believed to be reasonable, may not prove to be accurate. These forward looking statements include successful implementation of the program, anticipated results, expectations of future performance under the program and certain assumptions upon which such forward-looking statements are based. The forward-looking statements in this release involve a number of factors that could cause actual results to differ materially, including risks associated with Comverge's business involving our products, the development and distribution of our products and related services, regulatory changes, economic and competitive factors, our key strategic relationships, and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the information or announcements described herein.