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Octus Energy: Octus Energy Initiates Streamlined Energy Efficiency Stimulus Program for Cities and Counties

^{Published on 2009-05-21 10:17:09, Last Modified on 2009-05-21 10:17:55 - Market Wire}
 

DAVIS, CA--(Marketwire - May 21, 2009) - Octus Energy (OTCBB: [ OCTI ]) ([ http://octusenergy.com ]) today announced the launch of EECBG: $1-to-$3, an innovative solution to help cities and counties maximize the immediate benefit of Energy Efficiency and Conservation Block Grant (EECBG) funding provided through the American Recovery and Reinvestment Act (ARRA) of 2009.

Octus's EECBG: $1-to-$3 is designed to optimize the participation of cities and counties in their deployment of $3.2 billion in EECBG funds, as part of $16.8 billion allocated under ARRA for Energy Efficiency and Renewable Energy programs.

"Cities and counties are asking: How do we maximize the value of our EECBG funds?" said Octus CEO Chris Soderquist. "Through a proven three-stage process -- evaluate, implement and save -- EECBG $1-to-$3 maximizes the benefit and return of EECBG funds by providing proven, effective energy-efficiency solutions, and by guiding municipalities through the qualification process. Stated simply, we aim to maximize the Stimulus Plan's effectiveness by generating $3 in economic returns for every $1 of EECBG funding."

In collaboration with leading energy-efficiency research institutions and industry practitioners, Octus intends to help cities and counties implement high-return lighting, HVAC and energy management systems. To receive funding, municipalities must present spending plans to the U.S. Department of Energy by June 25, 2009.

"It's not simply an 'invest it or lose it' challenge; it's imperative that municipalities make smart decisions about their energy management," said Soderquist. "By helping municipalities select and deploy smart energy solutions, we can generate long-term economic and environmental benefits. Creating green jobs and stimulating local economies are important byproducts, but the key is to multiply and best leverage funds through energy efficient solutions."

"We believe," Soderquist continued, "the EECBG $1-to-$3 program encapsulates the vision of Secretary of Energy Steven Chu, who recently asserted, 'The [EECBG] funding will be used for the cheapest, cleanest and most reliable energy technologies we have for energy efficiency and conservation which can be deployed immediately.'"

About Octus

Octus Energy (OTCBB: [ OCTI ]) is a smart energy management company headquartered in Davis, California. Octus intends to develop, market and sell energy-efficient lighting and cooling solutions that enable public sector and private organizations to significantly reduce their energy expenses. The company intends to deliver solutions through Octus ESP (Energy Savings Platform), a full-scale energy management program.