Lovely news out!
(Staying warm and dry, Richard? Welcome to the East Coast! Gotta love these Nor'easters!)
Tuesday January 25, 10:05 am Eastern Time
Company Press Release
Telenetics and Duquesne Light Set Date for Completion of Automatic Meter Reading Project
LAKE FOREST, Calif.--(BUSINESS WIRE)--Jan. 25, 2000--Telenetics Corp. (OTC BB:TLNT - news) Tuesday announced that the balance of purchase order by Duquesne Light (NYSE:DQE - news) for the patent pending Omega(TM) wireless cellular automatic meter reading (AMR) systems will be shipped and installed at Duquesne's customers by March 31 of this year.
The completion of the project, which started in fall 1998, makes Duquesne the first electric utility company in the country to achieve the complete automation of meter reading for commercial and industrial customers. The pending shipments are part of the $8.4 million contract between Telenetics and Duquesne. Duquesne and Telenetics have also signed an agreement to introduce Telenetics wireless AMR solutions to other utilities seeking meter reading solutions.
In 1998, Duquesne launched one of the largest automated meter reading and outage detection projects in the United States involving thousands of commercial and industrial customers in the greater Pittsburgh area. Telenetics was then awarded with a contract to be the primary supplier of meter reading communications devices for Duquesne's 30,000+ prime commercial and industrial customers. Telenetics' Omega(TM) is being used for two-way data transmission between multiple and single metering sites and Duquesne's central meter data management system. For most electric utilities, the commercial and industrial customers generate a substantial portion of electric billing revenue.
The patent pending Omega(TM) wireless is designed by Telenetics to provide on-demand meter reading, outage detection and many other data acquisition capabilities using existing cellular networks. Omega(TM) is the most advanced and versatile cellular data transport unit in the market today. In addition to unlimited and reliable high speed two-way communication capability via cellular networks, Omega(TM) can store the serial number or address of the meter or any other device and in the case of a power outage or other alarm conditions, reports to a central host, pager or a web address. Omega(TM) is capable of receiving or initiating communications and transmitting data as frequently as required by the host application. The New Omega(TM) is designed to work with any type of analog or digital cellular network.
Although the majority of current Omega(TM) installations are in the territory covered by Duquesne Light, several other electric utilities in California, Florida, Ohio, Arizona, Michigan and Canada are among the installation or trial sites for Telenetics' wireless AMR solution.
Telenetics uses cellular networks to collect data from industrial devices such as meters, remote terminal units, traffic controllers, industrial controls, remote sensors and data loggers and transmits it through wireless cellular and radio frequency networks or telephone lines to a host site, direct or via the Internet. Telenetics wireless solutions are utilized in many applications such as AMR projects, power outage detection, traffic automation projects, flow measurement and remote monitoring.
Forward Looking Statement Disclosure: Certain of the statements contained in this news release are ''forward-looking statements'' that involve risks and uncertainties. Actual future results could differ materially from these statements. Factors that could cause or contribute to such differences include but are not limited to, the inability of the Company to meet its shipping commitment to Duquesne, increased competition within the utility and industrial automation markets, the inability of the Company to fund its expected continued growth, adverse changes in the cellular services market and those discussed in the Company's Form 10-KSB for the year ended December 31, 1998 and the Form 10-QSB for the nine months ended September 30, 1999.
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Contact:
Telenetics Corporation
Robert Way, 949/455-4000 ext. 708
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