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Telkonet, Inc. (TKOI) Technology To Provide Significant Utility Savings To Two Prominent North East Universities

|Includes: Telkonet, Inc. (TKOI)

U.S. colleges and universities pay an estimated $2 billion a year on energy costs, often forgoing energy efficiency upgrades on the campuses because they lack the capital to make these changes. To help offset and minimize expensive upgrades, energy management technology provider Telkonet collaborates with universities to locate utility-funded energy efficiency programs and then installs its energy efficient technology at the respective campus.

In 2012, Telkonet achieved record sales of its EcoSmart product line, reporting $1.2 million sales within the higher education market. The company anticipates that this growth pattern will continue as more education facilities seek-out energy saving programs.

Most recently, Telkonet was selected by "two highly-respected universities" in the North East to provide the EcoSmart solution for installation across three residence halls.

The company installed its EcoWave intelligent thermostat packages at one of the universities' 600-room residence hall. In the past, this nine-story building experienced annual utility costs of $217,611. After integrating Telkonet's EcoSmart technology, the university expects to see annual utility costs for the residence hall closer to $133,470, representing a 39 percent cost reduction over the prior year, resulting in savings of $84,141.

"By performing initial installations within a select number of campus residence halls, Telkonet allows a university to test EcoSmart system performance, student acceptance and savings potential," Gerrit Reinders, Telkonet's executive vice president for Sales and Marketing stated in the press release. "Once we demonstrate the capability of our solution, we may work with each university on further upgrades to residence halls throughout campus."

Telkonet noted that the North East faces energy costs higher than the national average, and that both campuses will achieve significant utility savings with the company's EcoSmart energy management solution.

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