EXHIBIT
99.1
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For
Immediate Release: February 14, 2008
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NEWS
RELEASE
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Telkonet
Completes Funding Arrangements
Company
retires note and positions to meet demands of growing backlog
Germantown, MD, Telkonet, Inc.
(AMEX:TKO), the leading provider of innovative, centrally managed
solutions for integrated energy management,
networking, building automation and proactive service across commercial,
industrial and government applications, today announced the
completion of several financial transactions designed to allow the company
to continue to support its growing opportunities and accelerating revenue.
The company has recently closed on a $2.5 million accounts receivable
financing agreement with Thermo Credit, LLC, a receivables funding company
specializing in the telecommunications industry. The funding will allow
increased flexibility in meeting working capital needs. On February 8,
2007, Telkonet made repayment in full on a $1.5 million senior note
payable, through the sale of 2.5 million shares of its common stock, which
are subject to Rule 144 sales restrictions, to a private investor. There
were no warrants or private placement fees involved in the
transaction.
About
Thermo Credit
Thermo
Credit, LLC (www.thermocredit.com) is
a financial services company focused exclusively on the telecommunications
industry. Thermo Credit serves established, well-run companies that need
capital to expand or improve their operations. The company provides asset
based solutions, loans, lines of credit and capital investment
programs.
For
more information contact Seth Block at (504) 620-3101 or seth@thermocredit.com
About
Telkonet
Telkonet
(www.telkonet.com) specializes in
integrated solutions for broadband data networking and energy management,
including in-building powerline communications (PLC) technology.
Headquartered in Germantown, Maryland, USA, Telkonet serves thousands of
customers worldwide. Telkonet’s technology innovation is underpinned by
end-to-end quality of service and comprehensive customer support. Its
portfolio includes:
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Contacts:
Joe
Noel
Telkonet
240.912.1851
Garrett
Axford
Georgina
Garrett/
Simon
Jones
1.866.940.9987
+44.1903.854900
mail@garrett-axford.co.uk
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The
revolutionary Telkonet iWire System™,
converting sites’ existing internal electrical
infrastructures
into
an IP network backbone.
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The
integrated EthoStream platform for wired and wireless high-speed Internet
access (HSIA),
differentiated
by outstanding remote management tools and dedicated customer support
facilities.
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Telkonet
SmartEnergy, achieving 30% energy savings through intelligent in-room
energy management.
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b
Statements
included in this release may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such statements
involve a number of risks and uncertainties such as competitive factors,
technological development, market demand and the Company’s ability to obtain new
contracts and accurately estimate net revenues due to variability in size, scope
and duration of projects, and internal issues in the sponsoring client. Further
information on potential factors that could affect the Company’s financial
results, can be found in the Company’s Registration Statement and in its Reports
on Forms 8-K filed with the Securities and Exchange Commission
(SEC).