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Crosslands Utility Services, CRDY's Energy Subsidiary, Well Positioned to Benefit From Obama Administration's $3.4 Billion "Smart Grid" Grants
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FORT WORTH, TX--(Marketwire - 11/11/09) - Crosslands Energy Corp. (Pinksheets:CRDY - News) reports the Obama Administration recently announced that the Department of Energy (DOE) had made $3.4 billion in grants to electric utilities to accelerate development of an electrical "Smart Grid." It is anticipated that these grants will result in revolutionary changes in ways electricity is generated and managed. Grant recipients included at least eight major utilities that are existing customers of Crosslands Utility Services, Inc. ("Crosslands"), a wholly owned subsidiary of Crosslands Energy Corp.
Crosslands' products, incorporating its proprietary technology, are integral components of the emerging "Smart Grid" system being developed in the United States and abroad. An "electricity grid" is an aggregate of multiple networks and multiple power generation companies with multiple operators employing varying levels of communication and coordination, most of which are manually controlled. Smart grids increase the connectivity, automation and coordination between these suppliers, consumers and networks thus utilizing the utility more efficiently and reducing costs.
Crosslands' President David Hayslip was quoted as saying, "The timing of the DOE grants is fortuitous for the growth and development of our business plans."
About Crosslands
Crosslands' probes were designed to be compatible with both handheld and laptop computers for programming and reading electric meters. These series of probes, well-received by the utility industry, have established Crosslands as a leading, quality manufacturer of high technology devices. The Company also distributes related products used by utilities worldwide to collect and optimize the monitoring of their customers' power usage data.
This press release includes certain 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. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and are subject to risks. We don't anticipate updating any such statements.
Contact:
Contact:
David Hayslip
President
(877) 264-4200
E-mail: Email Contact
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