PHI Donates $250K to Support Vehicle-To-Grid Technology
Friday, December 14, 2007
Company supports innovative research to address environmental challenges
NEWARK , De. – Pepco Holdings Inc., Delmarva Power’s parent company, today donated $250,000 to the University of Delaware in support of further researching the technology of an all-electric, emission-free vehicle, which also has the capacity to feed power back to the regional electric grid. The regional electric grid is managed and operated by PJM Interconnection, LLC (PJM).
PHI’s support of the project, called the Vehicle-to-Grid initiative (V2G), is for the evaluation and research of new technologies that will reduced carbon monoxide emissions as well as contribute to the nation's national security.
“By investing in the vehicle-to-grid concept, Pepco Holdings supports a cost-effective, innovative research and development project that will help to address our nation’s future energy challenges,” said Barbara Gonzalez, PHI’s Sr. Business Process Consultant. Gonzalez presented the check on behalf of PHI to the university’s lead researcher for the V2G initiative Willett Kempton, an associate professor in the College of Marine and Earth Studies.
“This initiative certainly complements PHI’s efforts aimed at exploring several technologies as part of its Fleet Technology Advisory Board,” Gonzalez said. “I’m pleased to say that V2G is one of those technologies.”
About PHI: Pepco Holdings, Inc., headquartered in Washington, D.C., delivers electricity and natural gas to about 1.9 million customers in Delaware, the District of Columbia, Maryland, New Jersey and Virginia. Through its subsidiaries Pepco, Delmarva Power and Atlantic City Electric, PHI delivers regulated electricity and natural gas service. PHI provides competitive wholesale generation services through Conectiv Energy and retail energy products and services through Pepco Energy Services.
Forward-Looking Statements: Except for historical statements and discussions, the statements in this news release constitute "forward-looking statements" within the meaning of federal securities law. These statements contain management's beliefs based on information currently available to management and on various assumptions concerning future events. Forward-looking statements are not a guarantee of future performance or events. They are subject to a number of uncertainties and other factors, many of which are outside the company's control. Factors that could cause actual results to differ materially from those in the forward-looking statements herein include general economic, business and financing conditions; availability and cost of capital; changes in laws, regulations or regulatory policies; weather conditions; competition; governmental actions; and other presently unknown or unforeseen factors. These uncertainties and factors could cause actual results to differ materially from such statements. PHI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results and prospects of PHI.