WeatherWise USA Announces Completion of Recapitalization - Company Poised to Double Revenues and Introduce Innovations
WeatherWise USA, Inc. announces the completion of its 15 month recapitalization. The recapitalization solidifies the company’s balance sheet and gives it the flexibility to respond to new opportunities.
Pittsburgh, PA (PRWEB) January 31, 2005 -- WeatherWise USA, Inc. announces
the completion of its 15 month recapitalization. According to Board member and
investor, Andrew Senchak of Keefe, Bruyette, & Woods, “This recapitalization
solidifies the company’s balance sheet and gives it the flexibility to respond
to new opportunities. The company is profitable with positive cash flows.”
WeatherWise CEO Rand Warsaw adds “We are delighted to have business booked
through 2008 and expect to increase our revenues significantly in the next two
years.”
WeatherWise USA plans to continue growing its customer base for
the electric and gas fixed bill products that are based on proprietary computer
modeling. The strengthened balance sheet also enables the company to leverage
its skills in applying risk management and financial engineering to new energy
services and products. “This turnaround positions us to build on our core
strengths in fixed bill product services for utility markets and to provide
unparalleled innovative services to new and existing markets,” Vijay Parmar, VP
of Financial Technology, explains. WeatherWise expects to offer new products in
weather market technology, utility financial management, and electric and gas
hedging markets and is poised to commercialize techniques previously developed
for in-house use, such as a specialized computer language for database
interrogation.
About WeatherWise USA, Inc.:
WeatherWise, USA, located
in Pittsburgh, PA, is the premier provider of customized products for energy
suppliers to offer their customers—including fixed bills, capped bills, energy
efficiency reporting, and billing support services. WeatherWise’s unique use of
computerized models based on engineering, rather than econometric, principles
enables the development of products and services that reduce weather-related
financial risk for energy providers and their residential and commercial
consumers.
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Source : http://www.prweb.com/releases/2005/1/prweb202400.htm