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Lake Oswego, Oregon – September 25, 2008:— Microfield Group, Inc. (OTCBB: MICG), an industry leader in innovative demand response technologies, today announced that on September 24th the Company received shareholder approval to formally change its name to EnergyConnect Group, Inc. The name change will not have any impact on the company’s organizational structure or day-to-day operations. The name change is effective immediately.
The announcement follows the sale of Christenson Electric earlier this year which positioned EnergyConnect as a pure play demand response company. As part of the name change, Microfield Group has applied to change its public stock ticker and will announce the new ticker following formal approval.
“EnergyConnect is well known and recognized within the electric power industry as a leading provider of next generation demand response and this change eliminates any confusion and reinforces our leading brand in the financial markets,” stated Rod Boucher, CEO of EnergyConnect Group. “As we begin to scale the business our brand name, EnergyConnect will add clarity and consistency for our customers, our partners and our shareholders,” concluded Mr. Boucher.
EnergyConnect is focused on helping companies regain control of their energy costs and generate recurring revenue by voluntarily reducing electricity usage in response to high market pricing or regional shortages.
Headquartered in
EnergyConnect provides industry leading Demand Response technologies and services that enable a smarter, more sustainable power grid while creating additional income for participating companies. The EnergyConnect web-based automated platform enables consumers of energy to participate in unprecedented incentive opportunities by cutting back power when the grid needs it the most. Demand response is the cleanest, most efficient and lowest cost solution for meeting the nation’s growing power needs. For more information about this next generation technology, visit: www.energyconnectinc.com. For investor information, visit: www.energyconnectinc.com/investors.
Forward Looking Statements
This press release includes statements that may constitute “forward-looking” statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause or contribute to such differences that include, but are not limited to, competitive factors, the success of new products in the marketplace, dependence upon third-party vendors, and the ability to obtain financing. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
For further information, please contact:
Media Contact:
Angela Bonarrigo
abonarrigo@rasky.com
617-443-9933 x 320
Investor Relations:
Randy Reed, CFO
503-419-3580
Glen Akserlod,
905-326-1888