ConectiSys Receives H-Net™ AMR System Purchase Order
June 16 2010 - 8:00AM
Business Wire
ConectiSys Corporation (OTC:CONC) a developer of automatic meter
reading technologies and associated wireless products for the
energy market, announced today that the company has received its
first H-Net™ Meter System purchase order from Gas Natural Fenosa
(GNF) in Managua, Nicaragua. GNF will deploy 500 H-Net™ units in
areas of suspected energy theft.
ConectiSys is engaging in a $40 million plus venture with Gas
Natural Fenosa. It has been estimated that to reduce or
substantially eliminate theft, an installation of approximately
150,000 H-Net™ units would be required to save GNF approximately
$43 million per year or $640 million in the next 15 years in
Managua, Nicaragua.
The initial release is in the form of a 12-month lease purchase
for 500 H-Net™ units. The H-Net™ BaseStations and intellectual
properties are wholly owned and maintained by ConectiSys. The
potential coverage is 600,000 units in this region. The rollout
pace and strategy will be at the discretion of GNF. ConectiSys will
maintain its monthly service fees per month per meter during the
purchase period and throughout the life of the meter. Our standard
package includes fully integrated utility backend software, utility
interface with an array of features including real time data
monitoring tools, fraudulent activity notifications, voltage
warnings, tampering warnings, real time data graphs and comparables
and remote connect/ disconnect functionality. ConectiSys also
offers additional services requiring consultant fees such as
transformer to transformer data and brownout/ blackout alerts
offering early detection warnings at request.
The purchase order is a major milestone for ConectiSys
Corporation as Gas Natural Fenosa is one of the largest utilities
worldwide with many distribution areas for vertical growth. Many
opportunities are beginning to show promise for ConectiSys not only
through future expansion within the many coverage areas of GNF, but
opportunities may open immediately in Panama, Costa Rica and
Columbia.
Robert Spigno, ConectiSys CEO stated, “The future of ConectiSys
and Gas Natural Fenosa has begun. We believe that we are
strategically aligned to rapidly expand throughout all coverage
areas (see more about Gas Natural Fenosa) and intend to pursue
contracts in each. The company continues to obtain interest of
utilities in South America, domestically and abroad.”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements contained herein and in the
Monthly Report that are not historical are forward-looking
statements that are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed in
the forward-looking statements including, but not limited to: the
level of cost-effectiveness and efficiency of the Company’s H-Net™
automatic meter reading products or technologies.
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