D. John Gagnon Joins as Senior Vice President of Utility Sales to Drive Adoption of Company's Leading Intelligent Energy Management Solutions
Aug. 11, 2010 (GlobeNewswire) --NORCROSS, Ga., Aug. 11, 2010 (GLOBE NEWSWIRE) -- Comverge, Inc. (Nasdaq:COMV), the leading provider of Intelligent Energy Management solutions for Residential and Commercial & Industrial customers, today announced it has appointed D. John Gagnon as senior vice president of utility sales. Gagnon joins Comverge during a strong 2010 that has seen increased adoption of its Apollo™ Platform and comprehensive suite of innovative technology, services and information management solutions by utilities. Most recently, the company announced it has extended its support of the TXU Energy iThermostat™ program through to 2012, which includes the installation of an additional 100,000 residential and commercial energy management devices.
"I am committed to building a world-class sales team at Comverge and John embodies the type of talented individual with a strong understanding of the utility business that we are seeking," said Chris Camino, EVP of sales and CMO, Comverge. "His proven track record of selling complex solutions into utilities, coupled with his drive and passion for the energy business, makes him an ideal person to help proliferate the adoption of our comprehensive and proven intelligent energy management solutions."
Gagnon brings nearly 20 years of experience to his role managing utility sales and business development for Comverge's complete, turnkey intelligent energy management products, including its Apollo Platform, innovative hardware and comprehensive services offerings. He has spent the past thirteen years with General Electric (GE), most recently as global sales leader for its transmission and distribution (T&D) meter solutions. In this role, Gagnon grew the company's traditional T&D business by more than 8X in under four years. Prior to GE, Gagnon worked for American Electric power Company.
"Comverge is at the forefront of a radical shift in how we deliver and consume energy," said D. John Gagnon, senior vice president of utility sales, Comverge. "I am extremely excited to be joining a company that is driving the industry forward with its innovative technologies and best-in-class services. By increasing utility adoption of these intelligent energy management solutions, we are addressing today's complex energy requirements while bridging to the promise of the smart grid."
Gagnon joins Comverge during a very successful 2010. In addition to the contract extension with TXU, the company has signed a new agreement with PECO to install 145,000 residential and commercial energy management devices, and extended a long-standing and successful agreement with NV Energy to enable the industry's largest smart grid ready residential program at 155 MW. In addition, Comverge secured more than $74 million in expected future contracted revenues in the PJM Interconnection market as a result of the 2013/2014 Reliability Pricing Model Base Residual Auction. The award extends Comverge's recent growth in the C+I demand response market, following an increase of more than 275 megawatts (MW) under management in the first quarter of 2010.
About Comverge
With more than 500 utility and 2,100 commercial customers, as well as five million residential deployments, Comverge brings unparalleled industry knowledge and experience to offer the most reliable, easy-to-use, and cost-effective intelligent energy management programs. We deliver the insight and control that enables energy providers and consumers to optimize their power usage through the industry's only proven, comprehensive set of technology, services and information management solutions. For more information, visit www.comverge.com.
For Comverge Investors
This release contains forward-looking statements that are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include Comverge's performance during 2010, expected future contracted revenues and certain assumptions upon which the forward-looking statements are based. The forward-looking statements in this release are not, and do not constitute historical facts, do not constitute guarantees of future performance and involve a number of factors that could cause actual results to differ materially, including risks associated with Comverge's business and PJM, commercial and industrial products, regulatory changes, grid operator rule changes, and other risks more fully described in our most recently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. Comverge assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.
CONTACT: Comverge, Inc.
Marie Bahl
678-802-8371
mbahl@comverge.com
