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World's Largest Energy Service Company Takes Over Powerit

Tue, 10 Jan 2006, 17:10:00 EDT

Edited by Carly Zander

SEATTLE, WA (SEND2PRESS NEWSWIRE) -- E.ON Sweden, the world's largest private-sector energy company, has purchased Powerit MIC's European operation headquartered in Lund, Sweden, and plans to integrate Powerit's suite of peak energy management products into a customer-focused energy efficiency group. Currently, there are more than 500 Powerit systems in operation worldwide and E.ON plans to expand this by offering the Powerit system to their extensive European and Scandinavian customer base.

E.ON has over EUR 50 billion in sales and is currently traded on both the New York and Frankfurt stock exchanges. E.ON, Dusseldorf, Germany, provides integrated distribution and sales of power and gas in Central Europe, the United Kingdom, Northern Europe and the Midwest of the United States. E.ON is the parent company of LG&E Energy, a leading energy provider in the Midwest US, particularly Kentucky.

In connection with the Powerit MIC sale, the US entity Powerit Solutions, headquartered in Seattle, WA, USA, was purchased by Seattle investors led by Claes Olsson, former president of Frigoscandia Equipment. The company will remain in Seattle with offices in the historic Pioneer Square District. In 2002, Powerit Solutions introduced the US version of the Powerit electrical peak load management system, the Energy Director(tm), and has since applied the technology to over 50 customer applications across the United States. As part of this sale, all technology and intellectual property rights were transferred to Powerit Solutions along with an agreement assigning exclusive rights to North America with additional open terms for marketing & distribution in all other non-European countries.


About Powerit Solutions:

Powerit Solutions(TM) delivers dedicated energy management systems for reducing power demand and controlling energy costs to commercial and industrial manufacturing facilities throughout the world. The Energy Director(tm) from Powerit Solutions is an automated control system that reduces and regulates facility peak demand without compromising production or building comfort.

Successful applications include metal foundries & casting, newspaper printers, cold storage, food processing and ice rinks with customers such as Frito Lay, Pacific Steel Casting, San Jose Mercury News, P&O Cold Logistics and the San Diego Ice Arena.

For more information, please visit Powerit Solutions at www.poweritsolutions.com

or, contact:
Bob Zak, General Manager, Powerit Solutions
PH 866-499-3030, FAX 20-340-9201, bobz @ poweritsolutions.com

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