MEK Metretek Technology

Metretek Technologies, Inc. (Amex: MEK) announced that its PowerSecure subsidiary has started a new business unit -- EnergyLite, Inc., a wholly owned subsidiary of PowerSecure -- that will assist customers in reducing their use of energy through investments in more energy-efficient technologies. According to Sidney Hinton, president and CEO of PowerSecure, EnergyLite is the latest of three recently added business units, each designed to expand energy service product offerings to PowerSecure's existing customer base. "The decision to enter the energy-efficiency marketplace was prompted in large part by demand from the company's customers and marketing partners. As prices of energy -- natural gas, coal, gasoline, diesel, and electricity -- have soared in recent months," said Hinton, "our customers (already sold on the merits of distributed generation) have increasingly sought our advice in identifying and employing technologies, from more efficient HVAC units to lighting retrofits, that can systematically reduce their energy consumption." Hinton noted that two previous business units were added in late 2005--UtilityEngineering, Inc., which provides fee-based, technical engineering services to PowerSecure's utility partners and customers; and, PowerServices, Inc., which provides rate analysis and other similar consulting services to PowerSecure's utility, commercial and industrial customers. "Although each of these business units operates in a distinct market with distinct technical disciplines," said Hinton, "they share a growing and common customer base that will allow for maximum efficiencies in our sales, marketing and engineering efforts. We expect all of our PowerSecure business units to thoroughly complement one another by sharing resources and customer leads, with a view toward the growth and development of PowerSecure's increasing visibility as a leading supplier of distributed generation systems and other energy services. "We are delighted to have recruited Ron Gilcrease to serve as president of EnergyLite," added Hinton. "He has significant experience in the energy-efficiency marketplace, having operated and grown a business unit in this field that had annual revenues in excess of $100 million. In addition to assembling his own sales force, Ron will assist in training the PowerSecure sales team to identify and exploit cross-selling opportunities." "We believe that PowerSecure's expansion into the energy-efficiency market, coming on top of its recently launched engineering- and management-services subsidiaries, has the potential to measurably enhance PowerSecure's business, and with it the overall business of Metretek Technologies," said W. Phillip Marcum, Metretek's chairman and CEO. 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 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 manner in which EnergyLite is expected to benefit the business of PowerSecure and the Company as a whole, and all other 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," "should," "believe," "optimistic," "anticipate," "intend," "hope" 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, the number of warrants actually exercised for cash, the conditions to the warrant call remaining in effect until the call date, 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 Company's most recently filed Annual Report on Form 10-K and subsequently filed reports on Form 10-Q and Form 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.