SUNNYVALE, CA — (Marketwire) — 07/25/11 — POWRtec (OTCBB: POWT), an innovative California-based energy monitoring company, is pleased to comment on recent activities in the smart meter industry.
All over the world, legislation demands the implementation of smart meters. In Norway, the government has re-scheduled the final date of completion for installing smart meters to 2016 — two years ahead of the original plan. In the UK, the government plans on having every household equipped with a smart meter by 2020. With POWRtec-s Nordic Advisory Board and its significant presence in Northern Europe, the company has a strong position to expand within these markets.
POWRtec is developing smart meters which not only communicate with utility providers but also with consumers. They empower consumers to track their consumption while at the same time reducing overhead costs and enable greater efficiency for utility companies that provide energy to homes and businesses. Reducing power consumption and electricity waste is one of the most immediate and efficient ways to lower carbon dioxide emissions.
“We are very pleased that the general public as well as governments all over the world realize the potential of smart meters,” Grant Jasmin, CEO of POWRtec, comments. “Our industry currently sees double digit growth rates, and we look forward to reacting on current developments and aggressively attacking potential new markets.”
POWRtec is a dynamic and unique energy monitoring company with the potential to dominate the smart meter industry with its innovative intelligent smart meters. POWRtec-s meters are network-enabled and can be built to utilize virtually any communications protocol. This empowers the intelligent smart meters to directly control network enabled, power-draining devices by switching them on and off in accordance with the desired energy output, resulting in more efficient use of resources, smaller energy bills and enormous benefits to the environment. POWRtec-s products can directly reduce the amount of energy waste and make a meaningful difference to the environment.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company-s annual report on Form 10-K and other filings made by such company.
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