PORTLAND, ORE. – (Aug. 7, 2002) - Celerity Energy, a leader in networked distributed generation solutions, has acquired Reliable Power Company, Portland, Ore. Reliable Power Company is a distributor of power-related products and an experienced systems integrator.

“By combining Celerity’s expertise in networking standby distributed generation with Reliable Power’s products and services, we’ve created a winning combination,” said David Hoffman, Celerity Energy CEO. “Through the addition of Reliable Power’s generation and power quality equipment Celerity can offer customers a total networking solution.”

Celerity Energy, founded in 1999, provides value to both energy suppliers and end-users by managing distributed energy resources. Distributed resources include loads that can be controlled and reduced, as well as stand-alone generators found in many commercial buildings and industrial facilities to provide emergency power should a utility power outage occur. By networking and remotely controlling these underused assets as part of a Networked Distributed Resource (NDRÔ) facility, Celerity offers utilities access to additional energy resources when needed. Owners of the stand-by generators benefit through on-going maintenance of their units and assurance that they will operate as designed in emergency situations.

“We believe the acquisition of Reliable Power Company by Celerity Energy is the right next step for both companies. I am very excited about the possibilities,” said Nels Gabbert, founder of Reliable Power and new Celerity Energy board member.

Vance Peterson, vice president of Reliable Power said, “This will allow us to leverage our ten years of experience into new applications and new markets. The distributed resources arena is one that has interested us for a long time.”

Celerity Energy and Reliable Power Company are already collaborating on a demonstration project for the Bonneville Power Administration to initially network a number of small generating sites and controllable loads among Bonneville’s customers.

Reliable Power Company became a wholly owned subsidiary of Celerity Energy July 29, 2002.