Orders for smart grid-enabled power systems increase
Power Secure International reports a jump in orders for its Interactive Distributed Generation systems designed for municipal infrastructure and manufacturing facilities.
PowerSecure International Inc. announced recently that it has received approximately $12 million of new business for its smart grid-enabled power systems. The new business is driven by interest in its Interactive Distributed Generation (IDG) system, which is designed to support critical municipal infrastructure and manufacturing facilities. These systems incorporate the company's NexGear switchgear and will be connected to PowerSecure's monitoring center, enabling the delivery of efficient power during periods of peak electricity demand, and ensuring a dependable supply of standby power 24/7.
According to PowerSecure, the new orders it has received consist of approximately $11 million of project-based business, and $1 million of long-term recurring revenue contracts. The $11 million of project-based business is expected to be completed and recognized primarily during the second half of 2009 and the first half of 2010, and the majority of the long-term recurring revenue business will be recognized over approximately five years beginning in the second half of 2010.
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