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East Hanover, NJ, Dec. 2, 2008 -- Comverge Inc., a provider of energy through demand response and energy efficiency, announced that it has entered into two new multi-year contracts with Austin Energy.
The first contract is for the purchase of additional Comverge energy management devices, including Comverge Superstats, and the second is for the installation of those devices and similar products in residential and commercial properties throughout Austin Energy's coverage area. These contracts have been approved by the Austin City Council and are, therefore, not subject to further regulatory approval.
The contracts, and their respective extension options, are expected to generate nearly $20 million in revenue to Comverge over a five year period and Austin Energy hopes the technology will provide customers with the opportunity to optimize their energy savings.
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