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January 31, 2005
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.
Posted by newsupdate at January 31, 2005 06:30 AM