MEK Metretek Technology

Metretek Technologies, Inc. (AMEX: MEK) announced that its PowerSecure, Inc. subsidiary has been awarded contracts to provide Interactive Distributed Generation (IDG(R)) systems to customers in two of the states targeted for expansion. According to Sidney Hinton, president and CEO of the subsidiary, it is anticipated that the projects, which are expected to be completed by year-end, will together generate approximately $1,750,000 in revenues to PowerSecure. "Each of these orders represents our fourth sale in each of the respective states, and we are very encouraged to see this acceleration of our efforts to penetrate these new markets. As we have noted in the past, contracts such as these validate our sales training efforts and demonstrate, we believe, our ability to continue expanding geographically." Distributed generation involves the design and construction of electric generation equipment and controls directly within a commercial or industrial customer's facility. The onsite equipment provides the customer's facility with supplemental and backup power generation capacity, and, in many cases, may also provide the customer with stable power quality and a real-time means by which to mitigate electricity price spikes such as those currently being seen across the country. Metretek Technologies, Inc. through its subsidiaries -- PowerSecure, Inc.; Metretek, Incorporated; and Southern Flow Companies, Inc. -- is a diversified provider of energy technology products, services and data management systems to industrial and commercial users and suppliers of natural gas and electricity. All forward-looking statements contained in this release, including statements concerning the revenues expected to be realized from the projects mentioned herein, as well as the anticipated completion date of the projects, are made within the meaning of and pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are all statements other than statements of historical facts, including statements concerning the plans, intentions, expectations, projections, hopes, beliefs, objectives, goals and strategies of management and statements of assumptions underlying the foregoing, and are often, but not always, identified by words such as "may," "expect," "will," "believe," "optimistic," "anticipate" and similar terminology. Forward-looking statements are not guarantees of future performance or events and are subject to a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed, projected or implied by such forward-looking statements, including, but not limited to, PowerSecure's ability to develop and market its products and services and to deliver anticipated benefits to its customers; changes in the energy industry in general and the natural gas and electricity markets in particular; the effects of competition; the ability of PowerSecure to secure and maintain key contracts and relationships; general economic, market and business conditions; and other factors, risks and uncertainties described from time to time in the Company's reports and filings with the Securities and Exchange Commission, including but not limited to the Company's most recent Form 10-K and Form 10-Q and subsequently filed Forms 8-K. Accordingly, there can be no assurance that the results expressed, projected or implied by any forward-looking statements will be achieved, and readers are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof and are based on the current plans, goals, objectives, strategies, intentions, expectations and assumptions of, and the information currently available to, management. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason, whether as the result of changes in expectations, new information, future events, conditions or circumstances or otherwise.