Telkonet Restructures and Relocates to Milwaukee

Telkonet (News - Alert), Inc., a company specializing in energy management and Smart Grid networking technology, recently announced its plan to further strengthen its position in Clean technology by restructuring which includes the relocation of its offices from Germantown, Maryland, to Milwaukee, Wisconsin.

 

This transition, company officials said, 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. Moreover, this move is said to consolidate the Telkonet and EthoStream businesses into a single location.

 

Further to this, the company has also announced that its Chief Financial Officer Rick Leimbach will be parting with the company. According to reports, Leimbach will be assisting the company in the transition and will be continuing in his Chief Financial Officer 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,” Jason Tienor, president and CEO at Telkonet, said. “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.”

 

The decision to relocate and restructure further demonstrates the company’s dedication to Wisconsin and further meets the conditions of its funding with the State to increase employment within Wisconsin, Tiener said, adding a thank you to Rick Leimbach and his team for their enormous contribution to the Company over many years.