HOUSTON, June 28, 2004 (PRIMEZONE) -- KWI, the leading provider of trading and risk management software for the global energy industry, today announces its partnership with Toshiba Corp., the leading Japanese developer and manufacturer of power generation systems. This relationship has resulted in the creation of the first Japanese-language energy trading and risk management (ETRM) packaged application.
KWI and Toshiba have been working together over the last year to produce the most advanced ETRM platform for the Japanese market. KWI's domain expertise, proven technology and experience in working with deregulating markets worldwide, together with Toshiba's powerful local presence, deep market knowledge and strong technical abilities, will prove a powerful force to help Japanese utilities prepare for imminent market liberalization.
The system, called Power Trader(tm), is available for the Japanese market with complete front-, middle- and back-office functionality and a comprehensive interface to the Japanese Electric Power Exchange (JEPX).
David Bucknall, chief executive officer, KWI, commented: "KWI and Toshiba have come together to develop Japan's first ETRM system in Kanji. KWI has a strong track record in taking the lead in early-stage deregulating markets, such as the Nordics, Italy, Poland, Czech Republic and Hungary, and will draw on its deep expertise to help Japan in its transition to a fully liberalized market. We are very excited about the opportunities available to KWI in the developing Japanese marketplace."
Hiroshi Hiromoto, senior manager of Industrial and Power Systems & Services Co., Toshiba, added: "KWI's solution is best suited to meet the needs of utilities across Japan. We are looking forward to working closely with KWI to market and deploy Power Trader in Japan. We believe this is a significant step toward reaching our goal of becoming the dominant player in the Japanese ETRM market."
About KWI
Founded in 1993, with North American headquarters in Houston, KWI is a leading global provider of energy trading and risk management software solutions. KWI serves some of the largest energy companies in the world including customers such as Alliant Energy, BP, EON, Puget Sound Energy, Ontario Power Generation, PacifiCorp and Tennessee Valley Authority. KWI's flagship K2 product was developed specifically to meet the unique financial and asset-based requirements of today's global energy market. K2 brings a scalable and componentized solution approach to multi-commodity trading and risk management. For more information on KWI, visit www.kwi.com or call (866) 366 1952 (toll-free)
About Toshiba
Toshiba Corporation is a leader in the development and manufacture of power systems, electronic devices and components, information and communication systems and consumer products. The company's ability to integrate wide-ranging capabilities, from hardware to software and wide-ranging services, assure its position as an innovator in diverse fields and many businesses. Toshiba has approximately 161,000 employees worldwide and annual sales of over US$52 billion. Visit Toshiba's web site at www.toshiba.co.jp/index.htm