Noveda Technologies and Rimat Group Announce MOU to Explore Strategic Partnership in Water Resource Management

Partnership to Include Joint Technology Development and Market Expansion

BRANCHBURG, New Jersey and HERTZELIYA PITUACH, Israel, April 14, 2011 - Noveda Technologies, the leader in web-based real-time energy monitoring
systems, and Israel-based Rimat Group, have signed a memorandum of
understanding (MOU) to explore synergies in technology development and seek
market expansion opportunities.

Under the terms of the MOU, the two companies will jointly evaluate
opportunities to develop real-time water monitoring and water leak detection
solutions designed for commercial, industrial and residential markets
worldwide.

"We are very pleased to partner with Rimat, especially as we look to
expand globally," said Govi Rao, president and CEO of Noveda Technologies. He
added, "While Noveda's expertise lies in real-time monitoring and advanced
context development through visualization, Rimat's innovative team has
developed proprietary technologies in active water-leak detection and
monitoring that are world-class. With our combined capabilities, we will be
better positioned to lay the foundation for the advancement of real-time
water leak detection and monitoring solutions."

Rao further commented, "Studies have shown that nearly one third of all
business downtime can be attributed to water damage situations, and a
real-time water leak detection solution can help avoid water-related damage
in the billions of dollars."

Launching the innovative product platform at the Big Green Show in
Phoenix, AZ today, Shay Ravid, CEO of Aqua-Rimat, a Rimat Group company,
said, "The alliance between Noveda and Rimat provides significant
opportunities to leverage complementary vision, product platforms and market
segments, and offers international cross-selling opportunities." He added,
"We look forward to combining our complementary strengths and regional market
positions to create a foundation for robust future growth opportunities."

About Noveda Technologies:

Noveda Technologies is an innovative leader in real-time, web-based
energy and water monitoring. The company's hardware, software and consulting
services optimize energy and water usage, lower costs and increase green
footprint for customers across commercial/retail, industrial, government,
education, renewable and utility sectors. For more information, visit
www.noveda.com or call +1-908-534-8855.

About Aqua-Rimat:

Aqua-Rimat, a Rimat Group company, is a leader in developing innovative
solutions for water treatment and water management. Aqua-Rimat's patented
LEAK BUSTER products, based on a unique adaptive learning system, provide
24/7 water leak protection, and can be integrated with smart home and smart
grid systems. For more information, visit www.aquarimat.com or call
+972-9-7425172.

Kelly Vanasse, +1-732-469-4518, kgvanasse at kellycommunication.com