DTE Energy Subsidiary Formed With Acquisition of Hy-Save
March 17, 1998 11:06 AM EST
DETROIT, March 17/PRNewswire/ -- DTE Energy (NYSE: DTE) has formed a new non-regulated subsidiary, DTE Energy Technologies Inc., concurrent with the acquisition of Portland, Ore-based Hy-Save Inc, a refrigeration and cooling technology firm.
DTE Energy Technologies, will serve the energy-intense refrigeration and heating, ventilating and air conditioning markets, such as food distribution and retailing, with a national distribution network of dealers and distributors to sell, install, maintain and service products to control energy costs.
Hy-Save is a recognized leader in the refrigeration marketplace, said James Gariepy, director of market development for DTE Energy Technologies. The technology developed by the firm can be installed on new equipment or retrofitted to existing equipment to increase efficiency, resulting in reduced energy usage, lower maintenance costs and improved cooling quality.
Gariepy said that DTE Energy Technologies is poised to deliver fully integrated energy management systems, which include energy-saving equipment and devices, advanced monitoring and controls, and user-friendly information interfaces.
"The Hy-Save acquisition serves as a cornerstone by providing access to unique energy-saving equipment," Gariepy said. "This technology is on the leading edge of commercial refrigeration technology. In establishing DTE Energy Technologies, DTE Energy has found yet another way to provide energy solutions to its customers in Southeastern Michigan and across the country. We can help customers manage their energy costs by bringing to the table nearly a century of experience the energy service industry."
Hy-Save was started in 1984 to look for ways to improve supermarket refrigeration technology. Ten patents later, the firm boasted more than 12,000 product installations worldwide.
Headquartered in Detroit, DTE Energy Technologies is a DTE Energy Co. subsidiary and affiliate of Detroit Edison, and electric utility that serves more than 2 million customers in Southeastern Michigan. DTE Energy is a diversified energy company involved in the development and management of energy-related businesses nationwide. Source DTE Energy Co.
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