March 31

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Ice Energy Named “Cool Vendor” by Leading Analyst Firm

Energy storage system called “innovative, impactful and intriguing”

WINDSOR, CO – March 31, 2009 – Ice Energy, the leading provider of distributed energy storage and smart grid solutions for optimizing energy system efficiency, has been selected by Gartner, Inc. (NYSE: IT), the world’s leading information technology research and advisory company, for inclusion in the firm’s 2009 “Cool Vendors in Energy and Utilities” report by Distinguished Analyst Dr. Žarko Sumić.

Gartner defines a “cool vendor” as a company that offers technologies or solutions that are: Innovative, enable users to do things they couldn't do before; Impactful, have, or will have, business impact (not just technology for the sake of technology); Intriguing, have caught Gartner's interest or curiosity in approximately the past six months.

Ice Energy's smart grid platform integrates its revolutionary, effectively lossless distributed energy storage technology with an advanced software infrastructure and intelligent two-way control to provide utilities with a powerful, cost-effective solution that fundamentally changes how they manage peak demand, and addresses the challenge of integrating intermittent, renewable resources onto the grid.

By leveraging the higher efficiencies associated with generating and transmitting less expensive off-peak power at thousands of distributed locations, and dispatching it during times of peak demand, Ice Energy delivers a persistent new energy solution equivalent to hundreds of megawatts of clean peaking power for utilities.

“We’re honored to have been selected by Gartner as a ‘Cool Vendor’ in the energy and utility space. It validates both our solution and the progress we have made in the marketplace, with more than 1.6 gigawatts of projects under consideration by utilities nationwide,” said Frank Ramirez, CEO of Ice Energy. “As a shovel-ready alternative to the building of new fossil-fueled peaking power plants, Ice Energy delivers a proven, scalable, and cost effective solution that is ready for deployment today, and could benefit from funding for Smart Grid projects under the 2009 federal stimulus bill.”

“The growing use of intermittent renewable generation like wind and solar is forcing the utility industry to change the way it looks at grid reliability and overall system efficiency,” said Chris Hickman, Senior Vice President, Utility Solutions for Ice Energy. “Utilities are recognizing the importance of energy storage, not only as a solution to manage and dampen this new source of grid imbalance, but also as a critical requirement in the development of a cleaner, smarter, more sustainable power grid.”

About Gartner’s Cool Vendors Selection Process
Gartner's listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose.

About Ice Energy
Ice Energy is transforming energy system efficiency and grid reliability by helping utilities intelligently manage their load profile. The company offers cost-effective smart grid system solutions that integrate proven distributed energy storage, closed loop two-way control, and permanent peak load shifting as a renewable portfolio resource.

With Ice Energy's innovative solution, utilities improve reliability and customer service by reshaping load curves, improving asset utilization, and integrating intermittent renewable resources. Ice Energy provides utilities with a reliable solution for leveling the load profile, controlling costs, and transitioning to a cleaner, smarter, and more sustainable energy system. For more information, visit www.ice-energy.com.

Media Contact:
The McDonnell Group, Inc.
Don McDonnell
don@themcdonnellgroup.com
(404) 583-0003