Adamas Energy Acquires Units From Duke Energy Generation Services - Duke Energy

News Release
May 1, 2006

Released By Adamas Energy

Adamas Energy Acquires Units From Duke Energy Generation Services

NEW YORK, N.Y. -- New York City-based Adamas Energy has acquired Vestar and Optimira Controls from Duke Energy Generation Services. Both units will provide continued support and solutions for customers in the United States and Canada. The acquisition was funded by debt and equity sources based in New York City.

Adamas includes seasoned executives from the energy services (ESCO) sector with a broad base of management.  The acquired units will operate as wholly owned subsidiaries of Adamas under the Optimira Energy brand.  The companies will continue to focus on engineered energy solutions and leading-edge information management for industrial and institutional clients.

Stephen H. Clevett, CEO of Optimira Energy explains, “As a leading provider of energy management technology solutions, Optimira’s web-enabled information management technologies deliver a unique capability to the energy services market.  The acquisition of Vestar, with its proven track record in industrial energy management and controls will help expand our presence throughout North America. Our proven expertise in energy procurement and infrastructure optimization solutions delivers smarter, objective decision-making.  The solutions provide greater certainty of process and greater certainty of results.”

To date, Optimira Energy has managed over $500MM in energy-efficiency projects in North America. Optimira engineers leading-edge, technology-independent, energy efficiency and supply procurement solutions. Optimira serves commercial, government, healthcare, industrial, institutional and public sector clients throughout Canada and the United States.

Headquartered in New York City, Optimira has operations in Boston, Calgary, Charlotte, Cincinnati, Louisville, Philadelphia, Toronto and Washington, DC.  For more information please visit our website at www.optimira.com or contact Andrew Mininger at 212.370.8406.

Adamas Energy

Contact: Andrew Mininger
Phone: 212/370-8406
24-Hour Phone: n/a
e-mail: amininger@mcclaincomm.com