WINDSOR, CO – January 13, 2009 – Ice Energy, a leading provider of smart grid and distributed energy storage solutions for leveling peak energy demand, today announced plans to expand its solutions offerings to focus on large-scale utility deployment.

Ice Energy’s innovative solutions for utilities integrate the company’s revolutionary, effectively lossless distributed energy storage technology, with closed loop, two-way control, and an advanced software infrastructure to permanently reshape the load curve, and fundamentally transform energy system efficiency and reliability.

“For the past two years, Ice Energy has delivered proven, reliable, and cost-effective distributed energy storage to hundreds of locations nationwide,” said Frank Ramirez, CEO of Ice Energy. “Today, we are poised to extend our solution to meet the large scale demand of utility companies in need of smart grid solutions to help them meet escalating peak system demand and effectively integrate intermittent renewable resources,”

“We’ve worked with our investment partner, Energy Capital Partners, to develop a comprehensive project capital and business model to immediately support large scale system deployments for utilities,” Ramirez continued. “Our revolutionary solution delivers a scalable and cost effective answer for leveling system load, and transitioning to a cleaner, smarter, more sustainable power grid.”

Ice Energy’s solutions enable utilities to unlock the full potential of distributed load management by addressing peak system cooling loads, the single biggest challenge in their demand portfolio. This makes it possible for utility companies to use cleaner, less expensive off-peak power to produce and store energy for use during peak demand periods—permanently lowering peak demand, reducing carbon emissions, and lowering the cost of service.

Unlike load-management cycling or other curtailment programs that negatively impact customer comfort and economic productivity, Ice Energy permanently and transparently shifts cooling energy consumption to off peak hours, with no negative impact to consumers. It is suitable for most commercial, industrial, and institutional buildings with central air conditioning in all geographies.

Ice Energy also represents a critical renewable portfolio resource to complement intermittent, off-peak renewable portfolio assets such as wind and solar, enabling utilities to shift significant load to off peak hours when the energy delivery system is both underutilized and more thermally efficient.

“Ice Energy provides a proven and straightforward solution for utilities that is ready to deploy today, with a value proposition for all stakeholders. This can help utilities meet their mission to provide reliable and cost-effective service to all of their customers while driving the introduction of a clean, energy efficient resource that advances the nation’s environmental and renewable portfolio goals,” said Ice Energy Chairman Joe Gorman.

Ice Energy will preview its integrated smart grid offerings for utilities at the upcoming DistribuTECH conference in San Diego, California. To arrange for a demonstration meeting, contact Ice Energy at info@ice-energy.com.

About Ice Energy

Ice Energy’s transformational distributed energy storage and smart grid solutions drive energy system efficiency, enhance grid reliability, and reduce greenhouse gas emissions. The company provides large-scale utility solutions that combine proven, efficient energy storage, two-way control, and permanent peak load shifting to enable utilities to intelligently manage their load profile.

As a renewable portfolio resource, Ice Energy’s cost-effective solutions help utilities transition to a cleaner, smarter, more reliable, and more sustainable energy system by improving asset utilization, reshaping load curves, and effectively integrating renewable resources. For more information, visit www.ice-energy.com.