Ice Energy®Named "Most Promising Company" At Energy Venture Fair V
November 12, 2004

San Jose, CA-November 12, 2004 Ice Energy®is pleased to announce that it was named "Most Promising Company" among the 75 energy companies that presented at the Energy Venture Fair V, held in San Jose, CA on November 10th and 11th. It marks the second consecutive time that Ice Energy®has won the award since the company’s inception in February of 2003.

The Energy Venture Fair brings CEOs from 75 handpicked energy technology, product and service companies seeking capital funding together with venture capitalists, corporate investors, and strategic investors who are looking for investment opportunities, strategic alliances and access to emerging technologies.

Ice Energy®serves the demand side management sector with a proprietary distributed energy storage product that addresses the root cause of the peak power crisis: Residential and Commercial Air conditioning. Ice Energy’s transformational Distributed Energy Storage products eradicate up to 95% of on-peak air conditioning demand and unleash the off-peak potential of the electrical grid.

Ice Energy®President, Greg Tropsa, said, "We are honored that energy sector investors and peers have recognized Ice Energy®with this distinguished award. Attendees recognized that our cost effective, off-the-shelf products address the root cause, not just the symptoms, of our peak electrical energy crisis without sacrificing comfort. This year’s location, San Jose,CA, helped emphasize that our products are an ideal solution for California as they provide exceptional performance under the new building standards set forth by Title 24 2005."

"One-third of all electrical energy flowing on the grid is servicing residential and commercial air conditioning demand. Ice Energy’s Distributed Energy Storage products can eradicate peak demand in California and other parts of the world with no energy consumption penalty. Acute constraints and continuing underinvestment in the grid, tightening restrictions on building new power plants and transmission infrastructure and continued growth in the demand for air conditioned comfort create a goldmine of opportunity for Ice Energy," said Frank Ramirez Ice Energy’s, CEO. Mr. Ramirez went on to explain, that California will be a primary market for the company, emphasizing that Ice Energy’s products are anticipated to be a low cost option for achieving the new building standards that are scheduled to be effective in October of 2005.