SEATTLE, May 5 /PRNewswire/ --

- Growth of Intelligent Energy Management and Smart Grid Technology

Powerit Solutions, a leading provider of intelligent energy management
and efficiency systems to more than 2,500 companies worldwide, has announced
US$6 million in new funding from Siemens Venture Capital and ArcelorMittal's
Clean Technology Fund, as well as from existing investors @Ventures and
Expansion Capital Partners. The funding will be used to accelerate the
company's continuing growth into new industrial and commercial markets,
solidify leadership in remote and on-site energy management, and continue
product development efforts for key industrial vertical markets. Powerit's
Spara automated energy management system provides an intelligent
facility-wide rules engine which leverages the flexibility of IP connectivity
and the economy of wireless devices to address critical emerging issues such
as smart grid management, real-time pricing, and automated demand response.

Siemens Venture Capital (SVC) is the central venture capital organization
within Siemens, which employed more than 430,000 people and had revenues in
excess of US$100 billion in 2008. SVC invests in early-stage and established
growth technology companies that provide innovative and profitable additions
to the Siemens global network.

Regarding the new funding, Eric Emmons, Investment Partner at Siemens
Venture Capital, said: "Globally, the industrial and manufacturing sector
represents nearly one-third of all energy usage, so we see this as a key area
in which to realize efficiencies. Powerit has a well-documented track record
of achieving significant energy and cost savings within highly-complex
industrial environments without interrupting production, and we see enormous
potential for growth in the usage of this technology by major industrial
companies worldwide."

ArcelorMittal is the world's largest steel company, employing more than
300,000 employees and producing approximately 10 percent of world steel
output. ArcelorMittal's Clean Technology Fund invests in high-growth
companies focused on commercializing clean energy technologies that reduce
greenhouse gas emissions and have relevance for the steel industry and its
customers.

Lou Schorsch, president and CEO, ArcelorMittal Flat Carbon Americas
noted: "Powerit Solutions offers a unique IT-based solution for industrial
customers such as ourselves to simultaneously reduce power demand and carbon
emissions while generating significant cost savings."

Powerit's expansion allows it to better respond to the surge in customer
demand created by new policies and incentives supporting energy efficiency
and carbon reduction, which have been recently enacted by the Obama
administration and other national governments. In the U.S., Powerit's
products will help industrial customers address the regulatory and
operational liabilities presented by the U.S. EPA's potential
reclassification of CO2 and other greenhouse gases as controlled pollutants
under the Clean Air Act.

Despite the general recessionary climate, Powerit is seeing dramatic
growth in the global market for energy efficiency solutions. It is also
recognition, in a troubled global economy, of the acknowledged technological
leadership and overall value of Powerit Solutions' intelligent energy
management solutions and the significant number of potential users that exist
worldwide.

"Two of the world's largest and most respected companies have recognized
the impact our Spara technology can have on the way that commercial and
industrial facility operators will address power and data management. We are
also pleased that our existing investors, @Ventures and Expansion Capital,
continue to be excited by Powerit's performance and market strength," said
Claes Olsson, Powerit Solutions' CEO.

The funding will enable Powerit Solutions to continue growth of the
company's proprietary and timely energy management products while expanding
and intensifying sales efforts worldwide.

About Powerit Solutions

Powerit Solutions ("Powerit") is a leading technology provider of
intelligent energy management solutions that provide commercial and
industrial end users with automated, dynamic rules-based control over their
energy use. Powerit's proprietary predictive control software extracts energy
and cost savings from the normal operation of equipment & processes in
complex industrial and commercial environments without disrupting production
output or facility comfort. Because Powerit's Spara system is designed to be
installed in one day and to integrate with a facility's existing control
architecture, customers can inexpensively participate in their utility's
demand response program and reduce peak energy demand, in order to realize
significant cost savings with a fast ROI.

Powerit's technology is generating savings in over 2,500 installations
worldwide in the industrial and commercial sectors. Clients include Paul
Masson Winery, Benton Foundry, IKEA, Stockholm Airport, PCC, San Jose Mercury
News, Amy's Kitchen, and many others.

For more information about Powerit Solutions visit:
www.poweritsolutions.com

About Siemens Venture Capital

Siemens Venture Capital (SVC), the central venture capital organization
within Siemens, invests in early-stage technology companies and established
growth companies, focusing on the energy, industry and healthcare sectors. In
this way, SVC identifies innovative solutions from which Siemens can profit
and plays a key role in Siemens' global innovation network. To date, the
company has invested more than EUR 800 million in over 150 companies and 40
venture capital funds. In addition, SVC advises the German Siemens pension
funds on their private equity allocation. It is in this context that SVC has
launched the venture capital fund of funds Siemens Global Innovation Partners
I. Siemens Venture Capital is represented in Europe, Asia and the US. More
information: www.siemens.com/venturecapital

About ArcelorMittal

ArcelorMittal is the world's leading steel company, with operations in
more than 60 countries.

ArcelorMittal is the leader in all major global steel markets, including
automotive, construction, household appliances and packaging, with leading
R&D and technology, as well as sizeable captive supplies of raw materials and
outstanding distribution networks. With an industrial presence in over 20
countries spanning four continents, the Company covers all of the key steel
markets, from emerging to mature.

In 2008, ArcelorMittal had revenues of US$124.9 billion and crude steel
production of 103.3 million tonnes, representing approximately 10 per cent of
world steel output.

ArcelorMittal is listed on the stock exchanges of Paris (MT), Amsterdam
(MT), New York (MT), Brussels (MT), Luxembourg (MT) and on the Spanish stock
exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).

For more information about ArcelorMittal visit: www.arcelormittal.com