|By Marketwired .||
|April 29, 2014 12:02 PM EDT||
CAMBRIDGE, ON--(Marketwired - April 29, 2014) - Eco-Shift Power Corp (OTCQB: ECOP)
Today Eco-Shift (ECOP) announced that it has entered into a Master Services Agreement with Buffalo Watt Holdings, LLC of New York to design and build proprietary software that will become the Building-level foundation of ECOP's Virtual Powerplant Platform. The company's Virtual Powerplant Platform provides lighting products, smart energy management technologies and solutions implementation to save significant energy costs for mid-sized businesses to large multiple-facility corporations.
The mixed cash and stock deal will see Buffalo Watt create a Site Automation System that allows for Building-level power control which merges seamlessly with Buffalo Watt's existing Cloud-level demand management software known as the Converged Energy Platform. The System will provide a modern web-based user interface that is accessible by any web browser via desktop, laptop, tablet or smartphone. The proprietary Building-Level software and related Intellectual Property will be fully owned by ECOP and will allow the company to create smart buildings with control over lighting and over time, additional modular components such as HVAC, compressors and pumps.
ECOP's clients will benefit from complete Cloud-level access to Buffalo Watt's world class Converged Energy Platform. ECOP's Virtual Powerplant Platform provides commercial and industrial energy users with the ability to transform their facilities into smart, energy efficient and cash-flow-positive buildings. This is accomplished by ECOP's state-of-the-art, IP-addressable light fixtures that have wireless communication. The Platform will communicate with these lights and reduce energy when there is a peak demand event based on the software-embedded algorithms managing the facility. This service will be managed by Eco-Shift Power on a 24/7 basis for clients.
"Our Demand Response and load shedding software provides our clients with the ability to reduce electricity consumption to offset peak-demand events and participate in government energy rebate programs," says ECOP CEO Gib Wood. "The Platform meets the needs of the two-way partnerships between utilities and consumers, as well as develops new three-way partnerships between utilities, consumers and ECOP."
ECOP Lighting Solutions and Energy Management serves a client roster including Mattel, ThyssenKrupp, and Parmalat. With a foundation in new-era LED lighting and wireless and web-enabled technologies, ECOP is transitioning clients' decision making from old, fixed technology to the new information age.
About Eco-Shift Power
Headquartered in Cambridge, ON, Eco-Shift Power Corp. (ECOP) develops best-in-class commercial/industrial lighting products, wireless energy management technologies and solutions implementation. As an emerging technology smart building energy management facilitator, ECOP procures, assembles, sells and distributes high-efficiency lighting products, along with other integrated energy management products such as online monitoring and verification reporting tools, direct load controls, activity monetization instruments, and demand response. All are delivered via Software-as-a-Service (SaaS).
Core ECOP competencies include LED expertise, microprocessor/Transmitter/wireless capability -- with IP addressability creating an intelligent light and a sustainable management service platform that includes five areas for client revenue generation or costs savings:
- reduce load during peak pricing
- manage demand response programs
- manageability of fixtures to reduce load
- maintenance and management
Learn more at http://eco-shiftpower.com/
About Buffalo Watt
Based in Buffalo, NY, Buffalo Watt has been building and delivering leading-edge software and technology solutions for the last 20 years. Learn more about the company's solutions at http://buffalowatt.com/
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or any other securities in any province or state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.
For more information, contact
Eco-Shift Power Corp.
1090 Fountain St N