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Ice Energy Honored with Green Building Innovation Award

WINDSOR, CO – January 27, 2009 – Ice Energy®, a provider of distributed energy storage and smart grid solutions for optimizing peak energy demand, has been awarded the prestigious 2009 AHR Expo® Green Building Innovation Award for its Ice Bear® distributed energy storage technology.

The panel of judges, representing American Society of Heating, Refrigeration and Air Conditioning Engineers (ASHRAE) members, selected the Ice Bear system based on industry leadership in design, application, value to end users and market impact. Ice Energy accepted the award today at the 7th Annual AHR EXPO in Chicago.

“The ASHRAE judges were impressed with Ice Energy's ability to integrate seamlessly with existing HVAC equipment to dramatically improve the energy performance of commercial facilities,” said Frank Ramirez, CEO of Ice Energy. “Ice Energy offers the first commercially scaled, distributed energy storage technology to break the link between air conditioning and the spiraling growth in critical peak demand for electricity. We're honored by this award and we're excited by the potential for our smart grid systems to fundamentally transform energy system efficiency and grid reliability.”

The Ice Bear system is an integrated energy storage technology that, when combined with conventional HVAC units, creates a hybrid cooling system that draws upon each technology when it is most efficient and cost-effective.

Using patented technology, the Ice Bear system stores cooling energy at night – when energy generation is cleaner, more efficient and less expensive – by freezing water within an insulated storage tank. It cools efficiently during the day by circulating chilled refrigerant from the tank to the conventional air conditioning system, eliminating the need to run the energy-intensive compressor during peak daytime hours. During off-peak hours, the conventional HVAC system operates as usual.

This unique hybrid system surpasses the overall efficiency and performance of conventional equipment alone. Daytime air conditioning energy demand – typically 40-50% of a building's electricity use during daytime hours – can be reduced by as much as 95%.

Unlike load management cycling or other curtailment programs that negatively impact customer comfort and economic productivity, the Ice Bear system shifts energy consumption from high-impact daytime hours to low-impact nighttime hours, enabling commercial buildings to slash peak electricity demand, manage energy costs and improve their environmental footprint without compromising cooling comfort.

The Ice Bear system represents the industry's first energy storage solution specifically developed for small to mid-sized commercial buildings and is applicable to both new construction and existing facilities across all geographies.

“When deployed in scale by utility companies, our solution represents an important change from just looking at site energy efficiency to unlocking the tremendous potential for savings from integrated energy system efficiency from generation, transmission and distribution to the point of delivery and consumption at the building,” said Chris Hickman, Senior Vice President, Utility Solutions for Ice Energy. “The ability to use cleaner, less expensive off-peak power to produce and store energy for use during peak demand periods is central to the value proposition that the Ice Energy offers utilities and building owners alike.”

“We now have a proven system that is not only cost effective and reliable, but also supports utility environmental initiatives with reduced carbon emissions, the integration of intermittent renewables such as wind and solar, and clean energy storage,” said Ice Energy's Ramirez.

The award follows on recent technology and industry accolades for Ice Energy, including Buildings Magazine's Top 100 Products of 2008 and California Energy Commission's Flex Your Power Award.

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.

“Ice Energy” and “Ice Bear” are registered trademarks of Ice Energy, Inc.

CONTACT:

Ice Energy Media Relations

Don McDonnell

don@themcdonnellgroup.com

404-583-0003

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