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PowerOneData International Secures Investment to Build a State of the Art Manufacturing Facility in India
Mar 08, 2012 (03:03 PM EST)
MESA, Ariz., March 8, 2012 /PRNewswire/ -- PowerOneData International, Inc., a Company providing Advanced Metering Infrastructure (AMI) and Advanced Database Management Software to Utilities and Municipalities around the world, reducing energy consumption and its negative impact on the environment and public health (P1DI), is announcing the formation of a Joint Venture with a private Delhi based investment group to build a state of the art "Smart Meter" manufacturing facility in Bangalore, India. The Joint Venture will fund the tooling and operation of the facility and participate on a pro-rata basis in the profits associated with the sale of the products produced in the facility.
Mr. Phil Nuciola (www.philnuciola.com), PowerOneData International Chairman and CEO in announcing the formation of the Joint Venture stated, "By forming this JV we are situating ourselves in a position to allow for the financial participation of several business alliance partners in this very rapidly expanding portion of the energy sector."
About PowerOneData International Inc.
PowerOneData International, Inc. (www.p1di.com) specializes in Advanced Metering Infrastructure (AMI). PowerOneData International's AMI solutions are poised to revolutionize energy management on worldwide basis through best of breed hardware, firmware, and its Genii ™ software; a cloud based agnostic Meter Data Management software that is the linchpin to the future of complete utility management on a single platform.
Forward Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof.
SOURCE PowerOneData International, Inc.