Houston, TX - April 27, 2005. OpenLink (www.olf.com), a leading provider of energy and financial trading and risk management software solutions, announced today that Austin Energy, the municipally owned electric utility of the City of Austin, Texas has licensed Endur, OpenLink's energy transaction management solution. Austin Energy, the 10th largest municipal electric utility, will implement Endur to support its commodity transaction management process, which includes all front-, middle-, and back- office requirements.
While in pursuit of a solution that could manage trading and risk management activities across a wide range of energy products, including coal, natural gas, nuclear, and renewable energy sources, and after a comprehensive vendor solution review and evaluation, Austin Energy has concluded that OpenLink's Endur proved to be the "best fit" solution to manage their high-demand generation and distribution requirements.
"The addition of Austin Energy to our client base highlights Endur's flexibility and capability in providing innovative solutions to the municipal energy market," said Matthew Frye, managing director of OpenLink's Houston Division. "Austin Energy's Endur decision is a fine example of a customer-focused, progressive utility taking the necessary steps to proactively manage its energy and related risks," added Frye.
"We welcome Austin Energy to our growing list of Endur users," said Coleman Fung, OpenLink's founder and CEO. "This win reaffirms our leading position in the revitalized North American power and natural gas markets. We look forward to a successful implementation project made possible through our dedicated staff and a strong partnership with Austin Energy," added Fung.