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PowerSecure International, Inc., (Nasdaq:POWR), formerly known as Metretek Technologies, Inc., announced that it has entered into a credit agreement with Citibank, N.A. that provides a $25 million senior, first-priority secured revolving and term credit facility. According to Sidney Hinton, president and chief executive officer of PowerSecure, the credit facility is a refinancing and expansion of the Company’s prior credit facility with First National Bank of Colorado. "The facility, which functions essentially as a $25 million revolving line of credit, will be used primarily to fund the growth of the Company in a way that is expected to benefit both our customers and our shareholders," said Hinton. "In particular, it gives us the capital and the flexibility to pursue new opportunities to bring the benefits of Interactive Distributed Generation® and energy efficiency to an ever wider audience." About PowerSecure International: PowerSecure International, Inc. is a leading provider of energy management and conservation solutions to utilities and their commercial, institutional, and industrial customers. PowerSecure partners with utilities to design and install Interactive Distributed Generation® systems and services that manage load curtailment and peak demand conditions, enhance system reliability and provide customers with emergency power during outages. PowerSecure also provides utilities with legal and regulatory consulting, energy system engineering and construction, and energy conservation services.
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