VICTORIA, Nov. 9 /CNW/ - Streetlight Intelligence Inc. ("SLQ", or "Company") is pleased to announce that, further to its news release dated April 9, 2009, the Company has received an initial rollout order for 500 Lumen IQ(TM) Lamp Controllers and associated system hardware from the Pacific Green Energy Initiative ("PGEI"). These controllers will be installed on existing street lights over the next three months in the City of Prince George, British Columbia and represents phase one in what the Company believes will be the implementation of Canada's first full-scale adaptive street lighting system.
"We are very pleased to see this commitment from PGEI," states Vince Krynski, CEO of SLQ. "This order is a result of a successful pilot program that was initiated approximately 18 months ago, where we were able to demonstrate our Lumen IQ(TM) technology as a robust, reliable and cost-effective means to significantly reduce the energy used for street lighting. With this installation, we believe Prince George has taken a significant leadership role in adopting our technology as part of its energy conservation initiatives and we look forward to showcasing the installation to the rest of Canada."
PGEI is also in the process of evaluating the requirements for an additional 1,000 units for Prince George as part of a proposed 8,500 unit deployment in North Central British Columbia through the Innovative Clean Energy (ICE) Fund. SLQ anticipates the evaluation to be completed within the first quarter of 2010. If the total 8,500 units were deployed in the North Central project as proposed by PGEI, SLQ would expect to yield in excess of $2 million revenue from that project.
About the ICE Fund
Managed by The Ministry of Small Business, Technology and Economic Development, the ICE Fund supports projects focused on the production of clean or renewable energy, the transmission of energy from producers to consumers, and improving the ways energy is used in British Columbia's communities and across all sectors of the provincial economy.
About the Pacific Green Energy Initiative
The Pacific Green Energy Initiative (PGEI) is a British Columbia-based project to encourage the development of a manufacturing hub to produce clean energy and fuel international trade. The intent of the initiative is to enable clean energy developers and manufacturers to showcase their technologies and use them for energy self-sufficiency and potential electricity sales to BC Hydro.
About Streetlight Intelligence Inc.
Streetlight Intelligence Inc. develops advanced street light optimization systems - and was recently recognized as the "New Technology of the Year" at the British Columbia Hydro 2009 Power Smart Excellence Awards. Trademarked as Lumen IQ(TM), SLQ's technologies provide improved lamp performance, adaptive lighting control, and system-wide communications for centralized street light management. SLQ's systems enable street light operators to significantly reduce their community's energy consumption, maintenance costs and environmental impact.
SLQ is a public company listed on the TSX Venture Exchange under the symbol "SLQ".
Certain statements contained in this news release constitute "forward-looking statements" as such term is used in applicable Canadian securities laws. These statements relate to analysis and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning anticipated performance of SLQ's technology during the installation of its Lumen IQ(TM) technology with the City of Prince George, the receipt of further orders by the Pacific Green Energy Initiative, the total revenue received by SLQ from that project as well as other factors and events described in this news release should be viewed as forward-looking statements to the extent that they involve estimates thereof. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the ability and timing of the Corporation to complete the purchase order, the outcome of the evaluation regarding the requirement for additional units in Prince George, the availability of future funding from the Innovative Clean Energy Fund, the final pricing of future sales, the effects of a recessionary economy and volatile capital markets and such other business risks as discussed herein and other publicly filed disclosure documents of the Corporation which are specifically incorporated herein by reference. Although the Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements there may be other factors that cause actions events or results not to be anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements and if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and accuracy of this release.
SOURCE STREETLIGHT INTELLIGENCE INC.
For further information: For further information: Vincent Krynski, Chief Executive Officer, (403) 571-2412, vkrynski@StreetlightIQ.com; D. Mark Alenius, CA, Chief Financial Officer, (403) 803-7390, malenius@StreetlightIQ.com