Hydro Ottawa Holding Inc.

Hydro Ottawa Holding Inc.

April 21, 2011 16:57 ET

Hydro Ottawa Holding Inc.: Investment in Streetlight Intelligence Inc.-Update

OTTAWA, ONTARIO--(Marketwire - April 21, 2011) - Streetlight Intelligence Inc. ("SLQ" or the "Company") announced on April 19, 2011 that the Company has provided temporary layoff notices to all of its employees and suspended its operations. SLQ is continuing to evaluate strategic alternatives available in order to resume operations and enhance shareholder value.

SLQ is a Canadian company that develops advanced street light optimization systems. Trademarked as Lumen IQ(TM), SLQ's technologies provide improved lamp performance, adaptive lighting control, and system-wide communications for centralized street light management. SLQ's systems enable street light operators to significantly reduce their community's energy consumption, maintenance costs and environmental impact.

Hydro Ottawa Holding Inc. ("Hydro Ottawa") has recognized that this technology provides opportunities for significant energy savings and maintenance cost savings through the use of more efficient and intelligent street lighting technology. As part of advancing its objectives for business growth and the promotion of energy conservation, Hydro Ottawa has made modest strategic investments in SLQ through the purchase of share options (repayable on demand) and shares in the Company. The share option investments are secured through priority rights to all of the assets of SLQ, including their intellectual property.

Contact Information

  • Hydro Ottawa Holding Inc.
    Susan Barrett
    A/Manager Communications and Public Affairs
    Media Pager: 613-221-0063