SUNNYVALE, CA — (Marketwire) — 07/18/11 — POWRtec (OTCBB: POWT), an innovative California-based energy monitoring company, is pleased to announce the appointment of a new member to its Nordic Advisory Board.
Morten L. Jensen joins the board as an exceptional negotiator with a broad range of experience including corporate finance, mergers and acquisitions and technology markets. The board has been established to advise the company on key growth and investment opportunities within the smart grid market in Nordic countries. As a market leader in the use of smart metering systems, the Nordic region demands particular attention. In Norway, a major roll-out of smart meters is expected by 2016.
POWRtec is already well represented in the region through its agreement with the major Danish utility company DONG Energy to deliver 160,000 smart meters. Through the Nordic Advisory Board, POWRtec further strengthens its position within a key market.
Grant Jasmin, CEO of POWRtec comments: “Morten is a highly valuable addition to the board. By utilising his native market insight and expertise, we hope to expand our interests within the lucrative Nordic market quickly and efficiently.”
Morten L. Jensen comments: “I am pleased to be joining the POWRtec team. I am impressed by their innovative ethos and commitment to a greener, more sustainable future for the energy market. I have been working with companies in the utility sector for several years now, and I am very impressed with the foresight and execution within this emerging sector POWRtec has shown.”
Morten L. Jensen is a visionary businessman with extensive experience with negotiations, business development and market analysis. He has held several managing positions with a variety of international companies, and has served as a Board member and advisor for many Danish and North American firms. Mr. Jensen holds a Master-s Degree in Commercial Business Law and Economics from the acknowledged business school of Copenhagen, CBS.
POWRtec is a dynamic and unique energy monitoring company with the potential to dominate the smart meter industry with its innovative intelligent smart meters. POWRtec-s meters are network-enabled and can be built to utilize virtually any communications protocol. This empowers the intelligent smart meters to directly control network enabled, power-draining devices by switching them on and off in accordance with the desired energy output, resulting in more efficient use of resources, smaller energy bills and enormous benefits to the environment. POWRtec-s products can directly reduce the amount of energy waste and make a meaningful difference to the environment.
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company-s annual report on Form 10-K and other filings made by such company.
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