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Octus Energy: Octus Energy Announces the Octus Smart Energy Platform

^{Published on 2009-06-02 06:33:20, Last Modified on 2009-06-02 06:35:05 - Market Wire}
 

DAVIS, CA--(Marketwire - June 2, 2009) - Octus Energy (OTCBB: [ OCTI ]) today announced the OctusSEP (Smart Energy Platform), a turnkey energy savings and demand response management system. Octus intends to bring OctusSEP to market through the retrofit of buildings with a full suite of energy-efficient technologies and the provision of ongoing energy management services.

The OctusSEP system will include:

 -- a combination of proprietary and best-in-class intelligent, energy- efficient lighting, cooling and automation products; -- a smart, Web-based energy management software system to control, monitor and verify energy usage, savings, and demand response in real time via Internet Protocol (IP), wireless and powerline communication; and, -- project financing for customers through Octus's Energy Savings as a Service program. 

"Based on feedback from prospective customers, we recognize the compelling and timely need for a simple, smart, intuitive energy management system to meet pent-up market demand and generate recurring returns for our customers and Octus," explained Octus CEO Chris Soderquist. "The OctusSEP system will network energy-consuming devices, including lighting and HVAC equipment, to maximize energy savings, shave peak demand energy use, and seamlessly communicate with smart meters and utility companies. Further, we anticipate doing this at no up-front cost to clients, financed through our Energy Savings as a Service program."

Anticipated benefits of OctusSEP include:

 -- Generation of significant, systematic energy cost reductions -- Retrofit installation and operation with no up-front costs to customers -- Simple and scalable design (IP-based; Web-based management; ability to communicate with multiple energy-efficient devices) -- Real-time management control with visibility and analytics of energy use at the device and full facility levels -- Improved usefulness and operating life of energy-consuming devices -- Creation of significant, validated environmental benefits (net-carbon reduction and environmental credits) 

Octus met with several dozen leading suppliers at LightFair, May 5-7 in New York, to explore collaborative opportunities. The company is in discussion with outside parties to integrate controls, components and sensors with proprietary Octus products, all prospectively bundled into OctusSEP as an integrated solution.

The OctusSEP targets small-to-mid-sized commercial, industrial and M.U.S.H. (municipal, university, school and hospital) organizations, initially within the Western United States. Such organizations have estimated annual electricity expenditures between $500,000 and $10 million per organization, and Octus will target efficiency improvements of 30-50%.

Octus will initially focus on lighting and cooling solutions, given the exceptional economic potential to generate significant energy efficiencies. According to the Energy Information Administration, total annual electricity expenditures in the U.S. commercial market are $128 billion, with $49 billion (38%) spent on lighting, and $39 billion (30%) spent on HVAC. A recent report from The Energy Foundation states:

 -- Demand savings: Cooling and interior lighting represent 44% and 43%, respectively, of commercial building demand savings; and; -- Energy savings: Interior lighting and cooling account for 45% and 18%, respectively, of commercial building energy savings. 

"Fully realized, energy and demand response savings for commercial and public sector buildings in the U.S. is a $40-billion plus market that is only in the beginning stage of development," said Soderquist. "We believe OctusSEP can dramatically accelerate the adoption of energy-efficiency and demand-response solutions. OctusSEP is being developed to lead the convergence of smart grid and energy efficiency innovations and we are one-hundred percent focused on capitalizing this opportunity."

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 OctusSEP (Smart Energy Platform), a turnkey energy savings and demand response management program.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," or other variations thereon or comparable terminology. Any statements in this release regarding Octus' business, technology, current or potential products or services that are not historical facts may be considered "forward-looking statements." Such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond Octus' control. Some factors that could cause future results to differ from the results contemplated in these forward-looking statements in this release include: the ability to obtain required funding to support completion of development and commercial launch of the system; the performance of the system and the extent of energy savings and benefits to customers from utilization of the system; the ability to enter into partnerships with third parties to integrate controls, components and sensors with Octus' products; the rate of commercial success and client acceptance of the OctusSEP product; competition by companies that offer competitive products; current adverse economic conditions; and inadequate capital and unexpected costs. You should also review the company's discussion of risk factors and other disclosures in Octus' filings with the Securities and Exchange Commission, including the most recent annual report on Form 10-K filed with the SEC. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.