Leading provider of distributed thermal energy storage hiring team of 12 to staff center in Riverside, California

Ice Energy, the leading provider of distributed thermal energy storage

technology, announced it will launch a new research and development center
located in Riverside, California this summer. Among other projects Ice
Energy will pursue a line of smaller residential solutions and continue to
extend the range of applications supported by their award winning Ice Bear
solution.

The company recently was awarded a five-year contract from Riverside Public
Utilities (RPU) to provide 5 megawatts of behind-the-meter thermal energy
storage using Ice Energy's proprietary Ice Bear system. In addition to R&D
efforts the new 22,000 sq. ft. facility will serve as a staging area for the
Riverside Ice Bear program and support Ice Energy's 25.6 megawatt Southern
California Edison (SCE) project.

"When selecting a location for our R&D facility we considered a number of
California locations. The City of Riverside proved to be the clear winner,"
said Mike Hopkins, CEO of Ice Energy. Explained Chris Tillotson, CIO and
head of R&D for Ice Energy, "The City's commitment to high technology
business development in the form of grants and incentives, the University of
California, Riverside and the growing number of high tech and HVAC
businesses in the area all contributed significantly to our decision."

Ice Energy will be hiring a team of 12 to staff the center, which will serve
as its primary research and development location and also its application
engineering facility.

"The City is very pleased Ice Energy has selected Riverside as the location
for its research and development base. While the City's Ice Bear program is
providing peak power reduction on the most impacted parts of our grid Ice
Energy's new R&D facility will be providing jobs, internships and learning
opportunities for our community," said Girish Balachandran, General Manager
Riverside Public Utilities.

Like other public utilities in California, RPU and SCE are increasing their
investment in preferred sources like energy storage.

Ice Energy's flagship commercial product, Ice Bear, attaches to one or more
standard 5-20 ton rooftop commercial AC units and freezes ice at night when
demand for power is low and capacity is abundant. The stored ice is used
during the day to provide cooling instead of power-intensive AC compressors,
effectively solving the problem of peak load management.

Almost 1,000 Ice Bear units are already installed in more than 40 different
utility service territories nationwide, approaching 29 million hours of
reliable operation.

About Ice Energy
Ice Energy delivers cost-effective, reliable and highly efficient
distributed energy storage and smart grid solutions to utilities using
direct-expansion AC technology. The company's smart grid platform integrates
distributed energy storage technology with an advanced software
infrastructure and intelligent two-way control to provide utilities with a
fully dispatchable grid asset that can be rapidly deployed at any scale. To
learn more about Ice Energy, please visit www.ice-energy.com.