Neptune Technologies Breaks Ground on R&D Facility in Elmore County

March 26, 2009

Neptune Technologies Breaks Ground on R&D Facility in Elmore County

FOR IMMEDIATE RELEASE on March 24, 2009

Neptune Technology Group Inc. broke ground today on a new $3.7 million, 19,000+ square foot research and development center. The new state-of-the-art center will be located adjacent to the current engineering facility and will house up to 90 engineering personnel.

Founded in 1892 as the Neptune Meter Company, the company began manufacturing quality water meters in Long Island City, New York.  In 1972 Neptune moved to its current location in Tallassee, Alabama where today all Neptune meters and automated meter reading systems are designed and manufactured.

According to Charles (Chuck) C. DiLaura, President of Neptune Technology Group Inc., “Neptune has evolved its capabilities and products to include leading-edge radio frequency design, meter reading systems, and utility management software for water, gas, and electric utilities. To support this evolution, we continue to recruit and develop talented engineering professionals.  Our investment in this new facility underscores the importance of this evolution to our continued success well into the future.”

“We are very excited about the opportunities for our future in the Tri-County area — the futures of our employees, their families, and the people of this community.”

Eric Basinger, Executive Director of the Elmore County Economic Development Authority was excited by the announcement.  “Elmore County was already known as a center of manufacturing and now to see a company of the caliber of Neptune Technologies invest in a research and development center demonstrates the strength of our knowledge-based economy.  The development of a research and development center shows a strong commitment to excellence and we are proud to have Neptune Technologies Group Inc. located in Elmore County.”

Neptune is the technology leader in the industry due to the substantial resources we continually invest toward research and development. These resources include highly skilled technical personnel, state of the art equipment, on-going technical training, and capital investment as needed.

Additionally, Neptune’s manufacturing complex features plastic components produced on high-speed injection molding equipment controlled to rigid tolerances and robotic material handling, extensive precision machining of bronze and plastic components, and highly automated electronic assembly of meter reading system components. Neptune’s capabilities also include a state-of-the-art, environmentally friendly, lead-free bronze foundry, with a computerized automatic pouring system, automated molding line, and robotic grinding and cleaning capabilities.

About Neptune

Neptune Technology Group Inc. has been a pioneer in the development of AMR technology for 45 years and is a leading provider of data collection systems which are used to read more than 59 million meters per month. Since 1892 Neptune has continually focused on the evolving needs of utilities – revenue optimization, operational efficiencies, and improved customer service.  Neptune continues to broaden its focus beyond automatic meter reading to include service orders and meter asset management.  Neptune provides utility automation software touching over 96 million connected customers throughout North America.  For additional information, please visit the company website at www.neptunetg.com.