NEWS
Siemens Electric Meter Selected for Wireless Meter Reading, View Real-Time Usage over the Internet
LOS ANGELES--(BUSINESS WIRE)--Feb. 11, 1999--Robert Spigno, President/C.E.O., ConectiSys, Corp. (OTC BB:CNES - news) announced today that the company will use the Siemens Electric Meter in its pilot roll out to the industry.
For the last two years, ConectiSys, Corp. has been in the research and development stage of a technology that allows a deployment of the most cost-effective wireless network today. The wireless technology is tailor made for the automatic meter reading markets. The solution has arrived in the form of a wireless tower less network. This break though technology will allow millions of Electric Meters to be read simultaneously, nationwide every 15 minutes, 24 hour a day and stored in a database connected to the Internet.
This is revolutionary technology! While deregulation of electrical service spreads across the nation, consumers are not yet seeing the benefits of deregulation through choice. Some of the reasons for this are addressed with our technology. The expense of labor, fleet vehicles and liability insurance are just some of the costs associated with the traditional method of meter reading.
For the last 120 days we have kept confidential the companies progress on bringing our technology to market, pending the conclusion of negotiations and agreements with strategic alliance partners. One company, (that will remain unnamed until final details of the agreement are completed) intends to develop an Internet Billing & Payment System offering a competitive advantage to electricity resellers. In March 1998, SCE held by Edison International (NYSE:EIX - news) made e-commerce history by offering customers the option of paying their bills on its Web site.
Customers with Internet access will be the first to benefit with online access to their billing information every 15 minutes. Negotiations are nearly complete for The Internet Billing Company to provide realtime electrical usage data through a major web portal. Through this portal customers can access their kilowatt usage, billing information, and graphs relating to time of day usage and weather relationships, budgeting tools, email alerts and much more.
An Internet portal is a gateway to information on the Internet, such as www.Yahoo.com (Nasdaq:YHOO - news), www.Excite.com (Nasdaq:XCIT - news), www.Lycos.com (Nasdaq:LCOS - news), www.MyOwnSearch.com, www.Go2Net.com (Nasdaq:GNET - news), www.Infoseek.com (Nasdaq:SEEK - news) and www.TheGlobe.com (Nasdaq:TGLO - news) that provides many services and features for its visitors. We feel these tools and services will give the new resellers of electricity a major competitive edge. A substantial portion of the cost of electricity is attributable to meter reading, billing, payment collection, and customer billing inquiries. These laborious and costly functions will be completely eliminated! Now, resellers can focus on marketing and installation of the wireless meter supplied by ConectiSys, Inc.
The company predicts its technology coupled with the Internet will cause a paradigm shift in the energy business. Even marketing costs will be scaled back dramatically for those resellers who market to Internet users. We are very excited to see this finally become a reality.
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This press release may contain forward-looking statements. No explicit or implicit promises are intended herein. Any investment in these designated securities should be considered highly speculative. The company recommends that any prospective investor consult with his investment advisor or broker prior to investing in the company's securities. This press release is not intended as a general solicitation for an offer to buy nor an offer to sell securities.
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