BOCA RATON, FL -- (MARKET WIRE) -- 08/04/11 -- Boca Raton, FL-based technology company Cleartronic, Inc. (OTCBB: CLRI), a leader in the development and commercialization of unified communications technology through wholly owned subsidiary VoiceInterop, Inc., announced today the formation of PeakPowerNet as a new business unit focused on energy consumption management.
"With global demand outstripping energy supply," observed Cleartronic CEO Dana Waldman, "we believe there are significant opportunities to capitalize on strategies and technologies aimed at reducing energy demand, and especially reducing wasteful energy consumption. In PeakPowerNet and its product applications, we see ways to monetize this potentially significant opportunity, even while helping people more effectively manage their own energy consumption. In a word, we are bringing true 'smarts' to smart-grid technology. This is not only an exciting development for our company, but represents a strongly positive structural change in the way energy consumers will live."
In a related announcement, Vice President of Marketing Michael Gutowski revealed last week at the Municipal Smart Grid Summit in Bonita Springs, Florida, that PeakPowerNet's first product application will be Plugaroo™, an energy consumption management control platform. Plugaroo™ allows automated energy savings for consumers. Simply connect the Plugaroo™ home controller to any outlet in the home and PeakPowerNet manages the home's power usage from there. The platform uses a proprietary algorithm and a variety of communications techniques to facilitate the realization of immediate energy savings. As time goes on, Plugaroo™'s learning algorithm gets even smarter, allowing more efficiency and more savings.
Explained Gutowski, "Our customers define whether their priority is comfort or cost savings. Over time, Plugaroo™ accurately predicts what level of energy consumption will occur based on the household's usage history and probabilities calculated for the local weather. Once the customer defines his or her priorities at the Plugaroo™ website, they can leave it alone and the control technology makes decisions that lower electric bills. Over time, the level of accuracy increases and additional cost savings are achieved."
Waldman also stated, "The launch of PeakPowerNet is a great example of our Cleartronic vision in action. We look for exciting, new, high-growth market opportunities where we can add immediate value by leveraging our increasing base of technologies." Waldman noted that the Plugaroo™ prototype is nearing completion and should be available for testing with one or more electric utility companies within the next 90 days. Interested parties should visit the PeakPowerNet website at www.peakpowernet.com or email the company at info@peakpowernet.com.
About Cleartronic, Inc.
Cleartronic, Inc. (OTCBB: CLRI) is a technology holding company that creates and acquires operating subsidiaries to develop, manufacture and sell products, services and integrated systems serving a range of market applications, from business enterprises to consumer products and services.
Cleartronic's central mission is to leverage its underlying core technology and proven competencies into new, high-growth market applications, including the development of consumer products targeting large domestic and global markets. Opportunities being considered include energy consumption management, cloud communications, and machine-to-machine applications.
Safe Harbor Statement
This press release may include predictions, estimates, opinions or statements that might be considered "forward-looking" under the provisions of the Private Securities Litigation Reform Act of 1995. Such statements generally can be identified by phrases such as Cleartronic or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," or other, similar words or phrases. Similarly, statements herein that describe Cleartronic's business strategy, outlook, objectives, plans, intentions, or goals are also forward-looking statements.
All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from expectations of Cleartronic or its management. Investors should not place undue reliance on forward-looking statements, which reflect our opinions only as of the date of document. Please keep in mind that we are not obligated to revise or publicly release results of any revision to forward looking statements in light of new information or future events. Investors should also review Cleartronic's Form 10-K and Form 10-Q filings for a more complete discussion of these factors and other risks, particularly under the heading "Risk Factors."
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Source: Cleartronic