Targeted Strategies for Today's Evolving Markets

MissionIR Blog

Speedus Corp. (SPDE) Surges 136% on Word of Acquisition of Green Technology for Data Cooling

Shares of Speedus Corp. (Nasdaq: SPDE) soared nearly 136 percent to $2.92 in Tuesday’s mid-day trading, shortly after the company announced Density Dynamics Corp.’s (DDC) acquisition of green technology pioneered by TiGi Corp. DDC was recently formed by Speedus; it’s product line offers solutions to energy use problems identified with IBM and its efforts to curb the Data Center Energy Crisis with Project Big Green.

Last month, IBM announced new software designed to address the growing need to maximize energy efficiency while lowering power and cooling costs. IBM has committed $1 billion per year for its Project Big Green, in which it will deliver technologies for data centers and physical plants.

DDC is responding as well. The company’s technology delivers solid-state storage and a proprietary management systems used to lower power use. The products are under evaluation by several large corporations to analyze their efficiency and performance.

“Our initial product, the Rocket, will be the first product in our Green Turbo (GT) line. GT products will build upon the Rocket to enhance performance and reduce electricity costs in large server networks economically and quickly. Using GT products can dramatically speed operations, while reducing equipment footprint, heat generation and electric power use,” Kevin Gonor, formerly vice president of sales and current president of DDC stated. “The new company’s slogan is Think Fast. Think Green. Think DDC.”

Let us hear your thoughts below:

This entry was posted in Small Cap News. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *