GERMANTOWN, MD.—Telkonet, Inc., a clean technology company that develops and manufactures proprietary energy management and smart grid networking technology, is conducting a restructuring which includes the relocation of its offices from Germantown, Md., to Milwaukee. This transition is part of an ongoing focus to competitively position the company within the $50 billion smart grid and clean technology industries while achieving favorable cost reductions.
This completes the company’s corporate strategy to consolidate the Telkonet and EthoStream businesses into a single location. Also as part of the corporate restructuring, Telkonet has announced that its chief financial officer Rick Leimbach will be leaving the company to pursue other opportunities in the near future. Leimbach will be assisting the company in the transition and will be continuing in his CFO role throughout the search process. The roles and responsibilities of the company’s Germantown staff will be transferred to the Milwaukee location in 2010 and the company is actively pursuing alternatives for its 16,400-square-foot office building in Germantown, Md.
“The decision to consolidate Telkonet’s operations demonstrates our continued commitment to realign our business and operations, helping us achieve our growth and expansion goals,” said Jason Tienor, Telkonet’s president and CEO. “With this relocation strategy, we’re able to optimize our resources, positioning the company to more effectively address the needs of the growing clean technology market. In addition, we look forward to becoming a significant part of the clean technology landscape in Wisconsin. This transition demonstrates our dedication to Wisconsin and further meets the conditions of our funding with the state to increase employment within Wisconsin. Rick Leimbach and his team have been a significant asset throughout Telkonet’s corporate transition. We’d like to thank them for their enormous contribution to the company over many years and wish them every good fortune in their future careers.”
Go to Telkonet.
