Noveda Technologies Names Govi Rao as President and Chief Executive Officer to Support Growth and Scale Business

BRANCHBURG, New Jersey, August 16, 2010 - Noveda Technologies, the leader in web-based real-time energy monitoring
systems, today announced that Govi Rao has joined the company as President
and Chief Executive Officer to lead Noveda in its next stage of growth. Mr.
Rao was most recently Chairman of Lighting Science Group Corporation and a
Partner in Pegasus Sustainable Century Merchant Bank. He is joining the
management team at Noveda as part of an overall restructuring effort to scale
the business.

A passionate champion of sustainability, Mr. Rao brings more than 15
years of global experience across several industries, including specialty
chemicals, coatings, building products and lighting. While Chief Executive
Officer for Lighting Science Group Corporation, a leading digital lighting
solutions company, Mr. Rao was instrumental in establishing the company as an
innovative pace setter in the emerging LED lighting space.

Mr. Rao was formerly Vice President and General Manager of the Philips
Solid State Lighting business in North America, responsible for pioneering
sustainable technologies such as solid state lighting. Mr. Rao had previously
held several leadership roles in Philips Lighting, including Senior Director
of its professional lighting business and Vice President of Business Creation
and Brand. His prior experience also includes several leadership roles at
Specialty Chemical manufacturer Rohm and Haas Company (now part of Dow
Chemical) across various businesses and regions. Mr. Rao is a founding member
of the advisory board at the Institute for Sustainable Enterprise at
Fairleigh Dickinson University. He also serves on the Board of Directors of
the New Jersey Technology Council and the Advisory Board at the Rutgers
Chemistry and Chemical Biology department.

"Govi's leadership abilities and proven success in scaling emerging
technologies make him the right candidate to lead Noveda in its growth
strategy. His background, experience and thought leadership will be extremely
valuable for Noveda for the next phase of innovation and growth," said Nelson
Ferreira, Noveda's chairman of the board.

Commenting on his new role, Mr. Rao said, "The need for us to rapidly
change our energy paradigm is growing every day, and I also see a tremendous
need to increase transparency in our energy usage in buildings. Noveda offers
an excellent platform to jump-start the journey to net-zero and enable the
transition to smart-grid technologies. He added, "I am very excited to be
joining the Noveda team during this period of growth and scale-up. The timing
is just right for the Noveda Platform, especially as we realize the need to
increase the awareness of our energy footprint across all global stakeholder
groups."

Noveda recently received US$3.3 million dollars in funding from the New
Jersey Board of Public Utilities (BPU) under the state's new Clean Energy
Manufacturing Fund (CEMF).

About Noveda Technologies:

Founded in 2007, award-winning Noveda Technologies is an innovative
leader in real-time energy monitoring and visualization for conventional and
renewable energy systems. The company's hardware, web-based software and
services, enable energy optimization in buildings to lower energy costs and
reduce carbon footprint. Noveda's solutions are designed to jump-start the
journey to net-zero by enabling real time data transparency in buildings and
lay the foundation to move to smart grid technologies. The company's diverse
client base includes commercial / retail, industrial, government, and
educational institutions. For more information, visit www.noveda.com
or call +1-908-534-8855.

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