SAN FRANCISCO, CA, February 13, 2009
/24-7PressRelease/ -- Energy Recommerce, Inc. (ERI) has become the solar energy industry's market leader in monitoring and performance management systems, with revenue growth in 2008 exceeding 300%, according to a 2008 year-end report released by Peter Rexelius, president and CEO of ERI. ERI also achieved profitability in the third quarter of 2008, and continues to remain profitable.
"2008 was another record year for ERI," stated Rexelius. "Since we founded ERI, we have met or exceeded all of the key benchmarks and performance metrics set by our management and investors."
ERI's market share is estimated to be over 35 percent in the state of California and over 25 percent nationwide, with solar monitoring systems in Hawaii, Colorado, Nevada, Arizona, New Jersey and Oregon.
"Through our flagship monitoring system, MYPVDATA , we now monitor more than 300 PV systems, encompassing over 80 MW, compared to approximately 100 PV systems and 25 MW in 2007," said Ronnie Pettersson, chief technology officer for ERI. "More than half of the PV systems monitored by ERI are installed on large commercial projects." ERI added Tioga Energy, Borrego Solar, Chevron Energy and Macy's to its already-impressive roster of tier-one clients. Other key ERI customers include MMA Renewable Ventures, Solar Power Partners, Akeena Solar, BP Solar, REC Solar, SunPower and end-users such as Costco, Safeway and Wal-Mart.
"Our plans for 2009 are to build off this success, by aggressively driving growth with a focus on commercial and utility-scale projects and expanding our operations to ensure a strong and sustainable future for our company. We have maintained a consistent, strategic direction since our inception in 2004 and our growth strategy remains as relevant today as it was when we began," further commented Rexelius.
To read the 2008 CEO report in its entirety, please visit: http://www.energyrecommerce.com
About Energy Recommerce
Energy Recommerce Inc. (ERI) is a leading provider of solar energy monitoring and management solutions for owners and operators of commercial PV systems. ERI's web-based monitoring solution, MYPVDATA , ensures that all components of a PV system maintain maximum uptime and operate at optimum efficiency levels, safeguarding ROI. Easy to understand, real-time performance data is presented using a web interface. Budget and performance alarms can be configured to notify when a system is not performing as expected. String level monitoring provides the detailed information necessary for efficient operation and maintenance. For more information, visit: http://www.energyrecommerce.com
Forward-Looking Statements
This release may include forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the solar markets.
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