Exhibit 99.2
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News
Release
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Media
Contacts:
Telkonet
Investor Relations, 240.912.1811, ir@telkonet.com
Garrett
Axford, Georgina Garrett / Simon Jones, 866.940.9987, +44.1903.854900 mail@garrett-axford.co.uk
For
Immediate Release
Telkonet
Furthers Strategic Clean Technology Positioning through
Restructuring
Telkonet
restructures, including relocation of headquarters to Milwaukee, WI
December
21, 2009: Germantown, MD – Telkonet, Inc. (OTC Bulletin Board: TKOI), a Clean
Technology company
that develops and manufactures proprietary energy management and SmartGrid
networking technology, is
conducting a restructuring which includes the relocation of its offices from
Germantown, Maryland to Milwaukee,
Wisconsin. This transition is part of an ongoing focus to competitively position
the company within the $50
billion SmartGrid and Clean Technology industries while achieving favorable cost
reductions. This completes the
Company’s corporate strategy to consolidate the Telkonet and EthoStream
businesses into a single location. Also as
part of the corporate restructuring, Telkonet has announced that its Chief
Financial Officer Rick Leimbach will be
leaving the Company to pursue other opportunities in the near future. Mr.
Leimbach will be assisting the Company
in the transition and will be continuing in his CFO role throughout the search
process. The roles and responsibilities
of the Company’s Germantown staff will be transferred to the Milwaukee location
in 2010 and the Company
is actively pursuing alternatives for its 16,400 square-foot office building in
Germantown, MD.
Jason
Tienor, President and CEO, commented, “The decision to consolidate Telkonet’s
operations demonstrates our
continued commitment to realign our business and operations, helping us achieve
our growth and expansion goals.
With this relocation strategy, we’re able to optimize our resources, positioning
the Company to more effectively
address the needs of the growing Clean Technology market. In addition, we look
forward to becoming a
significant part of the Clean Technology landscape in Wisconsin. This transition
demonstrates our dedication to Wisconsin
and further meets the conditions of our funding with the State to increase
employment within Wisconsin.
Rick Leimbach and his team have been a significant asset throughout Telkonet’s
corporate transition. We’d like
to thank them for their enormous contribution to the Company over many years and
wish them every good
fortune in their future careers.”
About
Telkonet
Telkonet
is one of the market-leading Clean Technology companies providing integrated,
centrally-managed energy
management and SmartGrid networking solutions to the emerging $50 billion
SmartGrid and Energy Efficiency
markets. As a provider of “negawatts,” Telkonet’s products improve energy
consumption and reduce the
demand for new energy generation. Telkonet is one of the top three
occupancy-based energy management control
providers in each of the hospitality, commercial, military, healthcare and
education markets. The Company’s
in-room energy management systems are lowering heating and cooling costs in over
170,000 rooms and are
an integral part of various utilities’ green energy efficiency and rebate
programs.
Primarily
targeting SmartGrid and utility applications, Telkonet’s patented powerline
communications (PLC) platform
delivers cost-effective, robust networking, with real-time online monitoring and
maintenance capabilities, increasing
the reliability and energy efficiency across the entire utility grid. www.telkonet.com.
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All
company, brand or product names are registered trademarks or trademarks of their
respective holders.
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 revenue 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).