ST. PETERSBURG, Fla.,
Aug. 1, 2011 /PRNewswire/ -- Infrax
Systems, Inc., (OTC.BB: IFXY), a global provider of unified Smart
Grid-related products and services for the Energy and Utility
industries, today issued the following letter to our shareholders
from our CEO Paul Aiello:
Dear Fellow Shareholders,
As I have in the past, I wanted to update all of you on our
business, strategy and vision. With all of our current activities,
I thought that an update was appropriate.
During the first seven months of this year we have continued to
move forward on our vision to provide intelligence, connectivity
and security to the global energy grid. We believe now more
than ever, that Infrax is on the right path and that the security
issues facing the energy grid are finally getting the attention of
officials around the globe.
Just in the last few months, the news has been filled with
comments by analysts and government officials regarding cyber
terrorism. On June 7th, the
Boston Herald reported that the "US was bracing for digital attacks
on the power grid and water supply", on June
9th, USA Today reported that Leon
Panetta said that "Cyber Attacks are among the blizzard of
defense challenges", and just last week the US Department of
Homeland Security issued a bulletin on the potential terrorist
threats to private sector utilities.
Infrax Systems' Secure Intelligent Energy Platform will be a
major security component for the emerging smart grid. The core
technology is an encrypted intelligent meter card that can be
deployed in existing one way meters to provide secure two way
communications or in a current two way meter to provide for
encrypted secure data and communications.
Portfolio Further Expanded
We have continued to focus on adding depth of products and
capabilities through strategic acquisitions. We purchased
controlling interest in Lockwood Technology in April of 2011 to
obtain access to their proprietary asset management technology.
Their unique technology has been deployed by thousands of customers
and will ultimately be incorporated into our platform for meter
data management. In addition to their software systems, Lockwood
provides world class RFID solutions for security, asset and
personnel tracking and public safety applications.
We are very excited about the addition of the Lockwood team and
applications and will be providing additional details on their
recent activities in the coming weeks.
We have entered into an LOI to purchase the preeminent mission
critical, infrastructure design and construction firm in the
Southeast. Southern Power & Controls technical team's
expertise in the implementation and maintenance of complex
electrical and control systems will significantly augment Infrax's
technical capabilities, especially as it relates to switchyards,
substations and distribution systems. Their reputation and
experience will enable us to expand our relationships with electric
utilities and their experience with water and gas utilities will
open additional markets for our security and communications
solutions.
We strongly believe that the addition of Lockwood Technology and
Southern Power & Controls greatly strengthens our Secure
Intelligent Energy Platform and will be key elements as we continue
to pursue our vision to be a dominant security solutions provider
in the smart grid energy sector.
Current Activity
Our development activities with the initial version of the
Secure Network Interface Card (SNIC) are progressing on plan as we
are working with multiple partners on that front. We are also
completing the testing of the UMAX nodes for metering applications
and will be releasing this product shortly.
During the last quarter, our outstanding proposal activity
increased substantially. Currently we have over $4,000,000 in active proposals and expect to
begin closing some of this activity in the coming quarter.
Lockwood Technology closed several municipal transactions in the
quarter, as well as renewed several support agreements. We
expect Lockwood to continue to release new products and capture new
business going forward.
Our Future
While we still face challenges, we are confident that we are
positioned to make our vision a reality. Our products
continue to evolve to meet the demands of a market in its infancy,
one with amazing potential.
We believe that we are the only solutions provider in our space
focused on securing both communications and meter data. The
positive interest in our solutions is evidenced by our growing
proposal backlog.
We believe that the security of the grid and all of the
associated access points is a matter of national security and
global importance. As we continue to move forward, we will
continue to develop relationships with best in class partners and
will, where appropriate, acquire additional companies and rights to
technology.
Our strength and strategic advantage is based on our people, our
experiences in and understanding of the utility sector, and our
loyal shareholder base. Together, we will continue to create a
company that is both successful and relevant.
I continue to be pleased with our progress and am looking
forward to delivering on our commitments in the months ahead.
About Infrax Systems
Infrax Systems offers a series of interrelated operational
management, communications, and grid security related products and
services known as Secure Intelligent Energy Platform (SIEP). Our
products enable a comprehensive and unified solution for
communications and applications management of the Smart Grid. SIEP™
incorporates a wide array of communications, security, device and
data management tools for Smart Grid applications such as advanced
metering solutions and grid optimization. SIEP platform creates a
unified solution to securely manage Advanced Metering
Infrastructure (AMI) and distribution automation. Infrax's secure
smart grid platform, incorporates a communications transport and
management system, (GridMesh™), device and data security
management, and ultimately secures intelligent endpoint devices
(SIED). The secure management of the "last mile" backhaul will be
necessary for utilities to implement Smart Grid applications
including AMI, real-time pricing, Demand Side Management (DSM),
Distribution Monitoring and Automation. When combined, these
applications can offer economic, operational and environmental
benefits for utilities, and ultimately the utility's customers.
For INFRAX Systems information, contact Investors@Infraxinc.com
or visit www.infraxinc.com.
Forward-Looking Statements
This press release may contain forward-looking statements
covered within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements relate to,
among other things, plans and timing for the introduction or
enhancement of our services and products, statements about future
market conditions, supply and demand conditions, and other
expectations, intentions and plans contained in this press release
that are not historical fact and involve risks and uncertainties.
Our expectations regarding future revenues depend upon our ability
to develop and supply products and services that we may not produce
today and that meet defined specifications. When used in this press
release, the words "plan," "expect," "believe," and similar
expressions generally identify forward-looking statements. These
statements reflect our current expectations. They are subject to a
number of risks and uncertainties, including, but not limited to,
changes in technology and changes in pervasive markets.
Contact:
Media Contact:
Infrax Systems, Inc.
investors@infraxinc.com
727-498-8514
SOURCE Infrax Systems, Inc.