Sept 25

Ice Energy Teams with PG&E; on $10 Million ‘Shift and Save’ Program to Reduce Peak Demand
Utility Program to Ensure Continued Power Grid Reliability, Extend Environmental Leadership

San Francisco, Calif. – September 25, 2007 – Ice Energy® today announced its role in PG&E;’s new $10 Million “Shift and Save” program, designed to ensure continued power reliability and sustainability by permanently reducing peak demand on the electricity grid. In collaboration with vendor technologies such as Ice Energy’s Ice Bear® hybrid air conditioning system, the “Shift and Save” program provides incentives that cut air conditioning peak electrical demand on light commercial and institutional buildings. Ice Energy’s hybrid cooling technology fulfills PG&E;’s program goals by permanently shifting up to 95 percent of air conditioning load while providing full cooling performance.

The California Public Utilities Commission (CPUC) found that permanent load shifting (PLS) technologies deliver a number of benefits to both utilities and energy consumers, including added protection against shortages during heat waves and reduced reliance on the construction of new generation plants.

“Programs such as “Shift and Save” are the surest way to meet California’s growing energy demand and address climate change,” said Steve De Backer, Senior Program Manager at PG&E.; “We welcome the opportunity to work with vendors that share our goals of reducing the need for fossil-fuel based energy and improving California’s air quality.”

One of the company’s many industry-leading programs, PG&E;’s “Shift and Save” initiative offers both upfront rebates and annual incentives for adding the Ice Bear system to existing and new air conditioning equipment. Program participants on PG&E; time-of-use rates also benefit from ongoing savings on their energy bill by reducing their electricity use between noon and 6 p.m. on weekdays and during the summer peak period.

PG&E;’s selection of Ice Energy within the “Shift and Save” initiative adds to a growing number of municipalities, utilities and communities throughout California that are working with Ice Energy to green the summer peak by reducing the need for peak day fossil fueled power. Ice Energy and the City of Victorville recently won California’s prestigious Flex Your Power award for a citywide initiative and Anaheim Public Utility won a national energy efficiency award from the American Public Power Association.

“As the first technology approved for use within the California Public Utility Commission’s new permanent load shifting category, we are proud to be part of the pioneering effort and are looking forward to working with PG&E; to ensure continued energy reliability throughout the summer season,” said Frank Ramirez, CEO of Ice Energy. “Ice Energy was chosen on the basis of cost effectiveness, ease of implementation, immediacy of load shifting results, potential for growth and the reliability of the technology. By shifting the critical cooling load from periods of high demand to off-peak hours, Ice Energy delivers a cost-effective solution that is better for the grid and for the environment.”

About Ice Energy, Inc.
Ice Energy® is an energy technology company focused on energy storage and advanced cooling and refrigeration products and technologies. The company manufactures and markets a new Energy Storage Air Conditioner product line for residential and commercial applications that addresses the increasing demand for electricity. Ice Energy’s products shift the largest component of residential and commercial peak demand -- air conditioning -- from expensive “on-peak” times of the day to “off-peak” periods, when energy is less expensive and less polluting. Approved as an optional compliance measure for California’s Title 24 building energy efficiency standards, the Ice Bear® system provides superior cooling comfort while significantly reducing the cost of energy. For more information visit www.ice-energy.com or call 877-542-3232.

Ice Energy and Ice Bear are registered trademarks of Ice Energy, Inc.

Press Contact:

Rosalind Jackson
Antenna Group (for Ice Energy)
415-977-1923
Rosalind@antennagroup.com