[ACCESSWIRE]
Agreement Marks Accelerated Adoption in Company's Most Rapidly Emerging Market, the Educational Industry
MILWAUKEE, WI / ACCESSWIRE / April 20, 2015 / Telkonet, Inc. (OTCQB: TKOI), creator of the EcoSmart platform of in-room automation solutions has signed a $200,000 dormitory energy management and intelligent room automation agreement to deploy EcoSmart and EcoWave to a major university in North Carolina this summer. The installation underscores accelerated adoption in Telkonet's most rapidly emerging market, the educational industry.
Chad Burow, Director of Sales and Marketing at Telkonet commented, "According to the EPA, energy consumption in campus residence halls is one of the fastest growing energy costs in universities and colleges throughout the United States. We are seeing more traction in the student housing market than ever, and this project is a prime example of that. We expect to see more projects like this in the near future."
The EcoSmart platform, which serves hospitality, educational military, healthcare and other commercial markets, is integrated to optimize energy efficient, comfort, and data collection, in support of the emerging Internet of Things (IoT), the network of physical objects embedded with electronics, software, sensors and connectivity.
Telkonet's Growing Educational Vertical
Telkonet's fastest emerging market is the educational industry, which involves strategic relationships with enterprise ESCOs throughout the USA.
Our first agreement was with New York University (NYU) to remotely manage and track energy consumption. Approximately 4,100 rooms across 12 dormitories have been completed and have yielded run-time and energy consumption reductions, operational savings from reduced field labor expenses and extension of equipment lives. Since this time, we have grown our Educational deployments to include such customers as the University of California Davis, Northern Oklahoma College, the Massachusetts Institute of Technology, Kansas State University, North Carolina State University, University of Akron, University of Notre Dame, Fordham University, West Point Military Academy, Columbia University, University of Wisconsin-Oshkosh and others.
The opportunities in this market are not limited to higher education institutions. A report by EnergySTAR, a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy, showed that our nation's 17,450 K-12 schools spend more than $6 billion on energy and that as much as 30% of a district's total energy is used inefficiently or unnecessarily.
We believe that our EcoSmart Platform is an important tool for participants in the education industry seeking to control student-related energy costs. We have focused our sales efforts on members of the education industry who are seeking to expand their energy efficiency initiatives as well as the ESCOs who target the educational marketplace and have thus far had success with at least one school district installing EcoSmart in each classroom throughout the district.
Telkonet partners with ESCOs to include our EcoSmart energy management platform for deployment within residence halls on university campuses. The ESCOs bundle our technology with other facility improvement measures designed to reduce operating costs across the entire campus, some of these initiatives provide attractive returns on customer investments, such as EcoSmart for dormitories and lighting upgrades, while others such as roofs and windows have poor returns on investment but are needed infrastructure improvements. ESCOs bundle these facility improvements into a project that has acceptable returns and meets state mandated guidelines. The ESCOs then structure self-funding financial transactions called "Performance Contracts" in which the savings are greater than the repayment costs. The ESCOs will typically guarantee the financial and operational performance in this type of engagement. This approach removes many of the capital funding issues that stand in the way of implementing energy efficient technologies and shifts the technology and performance risk from the institution to the ESCOs.
ABOUT TELKONET
Telkonet is a leading provider of intelligent automation solutions throughout commercial markets worldwide. Telkonet's EcoSmart Platform offers considerable energy cost reductions, staff productivity enhancements and carbon footprint reductions through intelligent networked communications, improved asset utilization and data analytics. IoT platforms like Telkonet's EcoSmart enable users to achieve savings, value and service through networked connectivity providing monitoring, control, analytics, convenience and the ability to participate with the emerging Smart Grid through automated demand response initiatives. Telkonet serves vertical markets that have established the company as a leading networking, efficiency and energy management technology provider. Those markets consist of Hospitality, Education, Military, Government, Healthcare and Public Housing. Telkonet's business divisions include EcoSmart(TM), a networked automation platform featuring Recovery Time(TM) technology offering cost savings, energy reductions, optimized asset utilization and improved comfort, and EthoStream(R), one of the largest hospitality High-Speed Internet Access networks in the world providing public Internet access to more than 8 million monthly users.
www.telkonet.com
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate net revenue due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results, can be found in the Company's Registration Statement and in its Reports on Forms 8-K filed with the Securities and Exchange Commission (SEC).
Media Contacts:
Telkonet Investor Relations
414.721.7988
[email protected]
SOURCE: Telkonet, Inc.
