NIHK .36..yest i url'd the www site so folks could learn about this tech...here is a pr from this am:
Nighthawk Systems Receives Order From PECO Energy
Wednesday February 18, 9:30 am ET
DENVER, CO--(MARKET WIRE)--Feb 18, 2004 -- Nighthawk Systems, Inc. (OTC BB:NIHK.OB - News), a provider of intelligent remote power control equipment and services, today announced that it has received an order for up to 2,000 of its CEO-700 whole-house disconnect units from PECO Energy, a subsidiary of Exelon Corporation. PECO Energy is an energy services company that delivers electricity to 1.5 million customers and natural gas to 430,000 customers in Southeastern Pennsylvania. Exelon, which is traded on the New York Stock Exchange and ranks as the fifth largest publicly traded utility in the United States in terms of market capitalization, is also the owner of Commonwealth Edison Company.
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PECO will use Nighthawk's CEO-700 for load control purposes. By installing the CEO-700, PECO Energy will be able to shed unnecessary loads during peak demand periods. During peak electricity usage, utilities often have to buy electricity on the spot market at much higher prices than they can produce it themselves. By utilizing Nighthawk products, utilities can reduce usage during periods of peak demand, eliminating expensive purchases of power from other providers and reducing the risk of power failures. Management of electric grids utilizing Nighthawk products can even allow utilities to generate and sell excess power to other providers that lack their own sufficient supplies.
In a February 11, 2004 news release, PECO President Denis O'Brien stated that PECO crews would execute numerous preventive maintenance programs along with targeted equipment upgrades, capacity expansion and system reinforcement projects to limit non-storm service interruptions. During December 2003, PECO Energy utilized Nighthawk to repair existing load control units that it had purchased from a different manufacturer. PECO recently stated that its January electric demand was more than 19 percent greater than December demand.
Myron Anduri, Nighthawk's President, said "The order from PECO Energy provides Nighthawk with its largest electric utility customer to date. We believe this order can serve as a cornerstone for future business with PECO Energy, as well as with other public utilities during 2004. Recent visits and discussions, coupled with in field use and testing, have re-affirmed that our products offer a cost-effective, simple way for electric utilities to shave peak loads and manage their grids. Additionally, our new satellite-based units expand our capabilities to offer public utilities, governmental facilities and other corporate customers the ability to both remotely monitor and control units and processes in virtually any location at breakthrough prices."
About Nighthawk Systems, Inc.
Nighthawk Systems, Inc. designs and manufactures easy to use 'plug and play' products that can remotely control virtually any electrical device from any location. Nighthawk products are easily installed and operated by anyone, regardless of technical capability. Nighthawk services customers in a variety of markets including electric utilities, traffic control, computer systems, commercial lighting, and irrigation. For more information visit www.nighthawksystems.com.
Forward-looking statements
Statements contained in this release, which are not historical facts, including statements about plans and expectations regarding business areas and opportunities, demand and acceptance of new or existing businesses, capital resources and future financial results are "forward-looking" statements as contemplated by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, including, but not limited to, government regulation, taxation, spending, competition, general economic conditions and other risk factors which could cause actual results to differ materially from those projected or implied in the forward-looking statements. There may be other factors not mentioned above that may cause actual results to differ materially from any forward-looking information.
Contact:
Investor Contact
Don Merrill, Jr.
(830) 336-3832
dlmjr@gvtc.com
Sales Contact
Myron Anduri
(800) 735-7650
manduri@nhawks.com
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Source: Nighthawk Systems, Inc.
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