Stock release/ Børsmelding

Trondheim, 22. September 2009

Through its North American subsidiary, Powel Inc, Powel ASA announced that it has signed a contract with URMC (Utility Risk Management Corporation).  The contract grants URMC the exclusive right to market and sell Powel’s Line Inspection and Vegetation Management Solutions to the North American Utility Market.  The agreement has a value of 21.2 MNOK over the next 3 years. 

The Powel Vegetation Management solution allows utilities to combine inspection and vegetation history with data from ground patrols, flyovers and call-ins to optimize resources, improve reliability and support regulatory compliance.  The solution combines Powel’s WorkStudio mobile tools with Powel NetBas Maintenance Management software.  Powel’s software and services will be offered as part of URMC’s complete Inspection and Vegetation Management solution. 

About Powel
Powel ASA, headquartered in Trondheim, Norway, delivers business-critical software solutions and related services specifically designed to help energy companies and public utilities improve daily operational processes and service quality. The company is a market leader in smart metering, generation, grid maintenance and water management solutions with offices in Norway, Sweden, The Netherlands, and North America. Founded in 1996, Powel ASA is a publicly traded company with more than 240 employees. For more information visit www.powel.com.

Contact info:
Bård Benum, CEO Powel, mobil 48 16 46 70,

Øystein Sæther, CFO Powel, mobil  48 16 45 58,