Citing a press release issued yesterday by Publix Super Markets, Inc. (OTCBB:PUSH), Sidney Hinton, president and chief executive officer of Metretek Technologies, Inc. (AMEX:MEK), confirmed that Publix is the source of $50 million in new business announced on March 26, 2007 by PowerSecure, Inc., a wholly owned subsidiary of Metretek Technologies.
According to the Publix press release, the company will expand its generator program to cover all of its Florida locations where the installation of distributed generation systems is reasonable and practical. "PowerSecure has worked hard to earn the trust, respect and confidence of Publix during the implementation of earlier phases of the program," said Hinton, "and we are gratified to see Publix reciprocate by identifying PowerSecure and awarding it this additional work.
"Publix is making a significant investment to serve its customers and communities, and this expansion means that — where reasonable and practical — all Publix locations in Florida will now have a full generating system encompassing backup power and peak-shaving capabilities," added Hinton. "Publix is acknowledged to be a leader among its peers in customer service and best practices, and we believe it is a powerful endorsement of our industry-leading position in distributed generation that Publix has again selected PowerSecure to address its needs. We are truly honored to have been entrusted by a company of Publix's stature with the responsibility of implementing this expansion."
About Metretek Technologies:
Metretek Technologies, Inc. through its subsidiaries — Southern Flow Companies, Inc.; PowerSecure, Inc.; and Metretek, Incorporated (Metretek Florida) — is a diversified provider of energy measurement 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 but not limited to statements concerning the business operations and prospects for the Company and its subsidiaries; and all other statements concerning the plans, intentions, expectations, projections, hopes, beliefs, objectives, goals and strategies of management, including statements about other future financial and non-financial items, performance or events and about present and future products, services, technologies and businesses; and statements of assumptions underlying the foregoing. 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. Important risks, uncertainties and other factors include, but are not limited to, risks, uncertainties and other factors identified from time to time in the Company's Annual Report on Form 10-K for the year ended December 31, 2006, as well as in subsequent filings with the Securities and Exchange Commission, including reports on Forms 10-Q and 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.
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