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“We vetted Xnergy very carefully, and came away impressed with both their knowledge of the retail energy space and our goals, in particular,” noted Dennis Locke, PowerOne’s chief financial officer. “Communication with the Xnergy team has been excellent. We think they are the perfect fit for us, and look forward to a long and fruitful relationship.”
Xnergy’s nationwide network of investment bankers is currently advising the Company on financing including both equity and debt components. Proceeds of any financing will be used to support an increase in customer base, energy purchases and the possible expansion into new service territories.
“We are at an important stage in our business plan,” commented George Wahbeh, chief executive officer of PowerOne. “Identifying the right financial partners is essential to proper execution. Xnergy has been fantastic. Their team, led by managing director Nia Stefani, have the expertise, long track record of success and nationwide reach we were looking for.”
PowerOne Corporation provides its clients with discounted electricity and natural gas through its network of competitive suppliers and the company’s retail electricity supply offerings. Headquartered in Chicago, the company is positioned to grow with the competitive energy market and gain market share through better pricing, superior service and effective marketing strategies. Please visit www.power1co.com.
PowerOne Corporation Safe Harbor
This press release contains certain statements that may include “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as “believes,” “expects,” “anticipate,” “optimistic,” “intend,” “will” or other similar expressions. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those beyond the control of the Company. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.
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SOURCE PowerOne Corporation
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