Media Contact
David Kreiss, President
Kreiss Johnson Technologies
10360 Sorrento Valley Road, Suite E
San Diego, CA 92121
858.535.2088 phone
858.535.2090 fax
KJT ANNOUNCES INVESTMENT FROM CINERGY VENTURES
APRIL 1, 2002-DEL MAR, CA-Kreiss Johnson Technologies, Inc., (KJT) the leading supplier of software systems that allow industrial and commercial facilities to manage their energy costs and quality of power, announced today that it has received an investment from Cinergy Ventures LLC.
The transaction provides KJT with additional capital to market its current internet-based system to its target market of energy service providers and larger industrial and commercial companies as well as to expand its suite of applications beyond power analysis. As part of the investment, Cinergy Ventures will have two seats on KJT’s Board of Directors.
David Kreiss, KJT president, said, “We are very pleased that Cinergy Ventures has found our products and business plan to be an attractive holding for them. With this additional investment, we will be able to greatly expand our product development and marketing efforts to serve the growing market for power management tools.”
“KJT is currently the only company delivering a complete open architecture power monitoring system to proactively manage energy costs and diagnose power quality problems. Its services complement the products of several other strategic Cinergy investments and will make an attractive package for industrial and commercial clients”, commented Alex Pardo of Cinergy Ventures.
Kreiss Johnson Technologies, a corporation in Del Mar, California, was founded in 1994 by David Kreiss, formerly Vice President of Marketing and Product Development at Dranetz Technologies. KJT’s mission is to develop an integrated suite of intelligent analysis applications to automate the process of facility management that will allow industrial companies and electric utilities to reduce costs and increase uptime.
KJT’s specialty is the intelligent analysis of the voluminous measurement data collected by facility monitors and equipment. To that end KJT has employed individuals with high levels of expertise in the areas of object-oriented programming, artificial intelligence, power analysis, and database technologies. KJT markets its products through strategic partners as well as a nationwide network of manufacturers' representatives and overseas by a network of established industrial product sales agents.
Cinergy Ventures, LLC is the venture investment arm of one of the nation’s leading diversified energy companies. Cinergy Ventures’ mission is to invest in companies developing emerging energy technologies that will create both strong financial returns and strategic business development opportunities.