Germantown, MD, U.S.A. — (METERING.COM) — February 21, 2007 – Telkonet, Inc. a provider of in-building broadband access over existing electrical wiring, has announced that it has entered into a Letter of Intent to acquire a leading technology developer of energy management system. Their proprietary energy management controls eliminate wasted energy from heating and cooling unoccupied spaces.
Many thousands of systems have been deployed in a wide variety of settings, and Telkonet plans to incorporate the Telkonet iWire System to network these energy management controls. The new system is designed to capture data from connected energy devices and move the data into a centralized database to provide real-time, continuous monitoring and analysis capabilities of power usage, energy costs, and more to control energy usage and costs. As a result, property managers can simply control the thermostat settings remotely, saving time and resources. In addition, they can monitor and analyse a wide variety of energy management data collected from one database.
Ron Pickett, President and CEO of Telkonet, says: "This acquisition will enable Telkonet to expand its energy management solutions beyond the utility market to other settings, such as the multi-dwelling (MDU) and hospitality industries. This illustrates how the Telkonet iWire System backbone can be used to support yet another application – energy management – in addition to broadband Internet access, VoIP, security, point of sale, digital signage and surveillance. Our existing customer base can immediately benefit from more efficient energy consumption with this new application, as energy costs are the largest uncontrolled operating expense. With our web-based energy management solution, we can help reduce energy usage by up to 30%."