SOURCE: Octus, Inc.

Octus, Inc.

September 19, 2011 09:35 ET

Octus Implements Successful RebateWorks™ Program, Generates Significant Savings for Multi-Family Properties

DAVIS, CA--(Marketwire - Sep 19, 2011) - Octus, Inc. (OTCBB: OCTI), an innovative California-based resource efficiency company, today announced the successful implementation of a RebateWorks™ program for multi-family property management and investment companies.

In a 10-day period in late August, Octus submitted rebate reservations to Pacific Gas and Electric Co. (PG&E) on behalf of 56 apartment communities for the replacement of water- and energy-guzzling showerheads. If approved by PG&E, the rebate-subsidized property improvements will:

  • Replace more than 10,000 showerheads with new, more efficient and highly rated fixtures;
  • Reduce shower water use by 40%; and,
  • Save more than 100 million gallons of water annually, along with the energy costs associated with heating that water.

"When we debuted RebateWorks in August, our intent was to streamline the procurement of utility company rebates and incentives, and thereby help property owners and managers cut waste and reduce their water and energy bills," said Octus CEO Chris Soderquist. "This campaign evidences the immediate potential of RebateWorks and how Octus can systematically and expediently market efficiency solutions to several of the country's leading multi-family management and investment groups."

According to the California Public Utilities Commission, energy efficiency programs managed by California's three investor-owned utilities have allocated $3.1 billion of ratepayer funding toward rebate programs in 2010-2012, a 42% increase over the prior three-year program cycle.

"Utility company rebates are often 'found money' for property owners, but unfortunately most are not aware of such financial incentives and the process to secure rebates," said Soderquist. "As the cost of energy and water increases -- and financial incentives to increase conservation proliferate -- we believe the timing is ripe to implement additional RebateWorks programs."

About Octus, Inc.
Octus, Inc. (OTCBB: OCTI) is a leading building efficiency company headquartered in Davis, California that significantly reduces the utility costs of commercial, multi-family and institutional buildings through the financing and implementation of energy-efficient lighting, HVAC and water management systems and products. Octus' project development division, Quantum Energy Solutions, has completed more than 1,500 building efficiency projects for clients that include ARCO, Bank of America, Blockbuster, Delta Airlines, Frito Lay, Hewlett-Packard, Home Depot, Ikea, Nabisco, Pepsi, Petco, Safeway, Sears, and University of California.

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