updated 5/24/2011 3:49:55 PM ET 2011-05-24T19:49:55

SAN DIEGO, May 24, 2011 (GLOBE NEWSWIRE) -- Viridity Energy president and CEO Audrey Zibelman announced today that energy industry sales leader Michael R. Young has been named executive vice president of sales at Viridity Energy, a distributed energy resource management company. Young will assume his responsibilities with the company immediately.

Young, former senior vice president of sales at Ice-Energy, joins Viridity Energy with over 35 years of experience and a strong track record of success in sales management within the energy sector. Prior to his appointment at Viridity Energy, Young led Ice-Energy's marketing strategy, which led to a highly focused sales pipeline process, during his tenure. Young previously led the sales division of Direct Energy Business as senior vice president, where he forged a dramatic increase in unit margins within the mid to large C&I markets, while extracting even larger margins in the national account and key account market segments. Before that, Young held the position of executive vice president of sales at Strategic Energy, LLC, where he increased annual sales volumes by 240 percent in one year, propelling contracted gross margin from $39 to $98 million. In his new role, Young will develop both a domestic and international sales strategy based on his knowledge of the smart grid industry and understanding of Viridity Energy's product function and value proposition.

"We are delighted to have Mike join our team," commented Audrey Zibelman, President and CEO. "When we completed our financing at the beginning of this year, it was with the intent of developing a best-in-class national sales and marketing strategy to compliment our technology and market expertise." "Mike's previous successful development of national sales teams and knowledge of the needs of large energy customers makes him the perfect executive to lead this effort," she added.

Mike Young observed, "I am very pleased to be joining the Viridity team. My years at Direct Energy and Strategic followed by my experience at Ice Energy convinced me that the sensitivity of large energy users to prices requires a comprehensive approach to real time energy management. He added, "Viridity's solution provides that opportunity, and I am very excited to be building the team that will take this solution to a nation-wide scale."

Contact: Karen Hutchens
              619.985.7800
               Karen@HutchensPR.com

About Viridity Energy

Viridity Energy is making the next generation of the smart grid a reality by providing large energy consumers with powerful tools to increase energy efficiency and decrease energy costs. The company's unique and flexible VPower™ platform solution enables customers to dynamically shift and balance energy load, integrate advanced energy technologies and convert existing energy investments into lucrative new revenue streams. Viridity Energy helps organizations achieve sustainability goals and contribute to the greater good by stabilizing energy price fluctuations. Headquartered in Conshohocken, Pennsylvania, Viridity Energy was founded in 2008 by former executives of PJM Interconnection. For more information, visit www.viridityenergy.com .

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