Carina Says New Deal Offers 'Significant' Boost
CONTACT:
Laura Pepper
Carina Technology, Inc.
Phone: 256.704.0422 x106
Fax: 256.704.0366
lpepper@carinatek.com
www.carinatek.com
Huntsville, AL – August 5, 2006 — Carina Technology Inc. already planned to double its work force in 2007. Then the Huntsville company got another powerful boost this week. Carina, which designs hardware and software primarily for the utility industry, has entered into an agreement with Cellnet Technology to develop and deliver a remote meter disconnect/reconnect device.
This agreement gives Cellnet the rights to resell the meter device from Carina. The meter allows electric utilities to read, disconnect and reconnect service from a remote site, reducing costs and improving worker safety.
"It's really significant for us and brings real credibility to us in being able to develop this product," said Bill Hetherington, President and CEO of Carina. Terms of the deal were not released, but Hetherington said Atlanta-based Cellnet has agreed to buy 10,000 units from Carina as part of a pilot program. "They're going to evaluate the first 10,000 in the market, and they believe the second phase would be for another 100,000 units. That's rather significant." Hetherington said there is a market need for the electric utility industry to adopt technologies to reduce costs and improve service.
Carina was formed 18 months ago. It has 15 employees in Cummings Research Park. The company was planning to double its work force next year because of its backlog of orders. "We've been selling our products to different utilities over the last year as part of about 40 pilot programs, from as far away as Hawaii and as close as Huntsville Utilities," he said. "This agreement is the first one that could go significantly beyond the pilot stage." Hetherington called the Cellnet deal a "win-win" for the area because United Circuits in Meridianville handles its manufacturing.
About Cellnet: Cellnet provides advanced metering infrastructure and fixed-network communications to the utilty industry with more than 13 million meters installed or under contract.
About Carina: Carina Technology, Inc. is a Huntsville-AL-based technology hardware and software firm that provides 2-way remote meter-based applications principally for the U.S. utility industry. These applications are designed to work with various communications platforms from cellular analog to Ethernet and WiFi. More information about Carina can be found at www.carinatek.com.
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