GASELYS SELECTS SOLARC TIES II TO MANAGE GAS & POWER PHYSICAL SHIPPING OPERATIONS
SolArc Established as Viable Technology Solution to the European Energy Industry
HOUSTON (August 6, 2007) - SolArc, an innovative, market-focused software company that dramatically improves the performance of commodity-intensive businesses, announced today that Gaselys has selected the SolArc TIES II solution to manage their capacity bookings/shipping operations on the European gas and power infrastructures - transmission and storage.
A Gaz de France / Societe Generale joint-venture, Gaselys is a trading company that operates on the European energy markets. Gaselys is SolArc's first European natural gas and electricity customer.
Currently, enhancements to SolArc TIES II are being engineered to best serve Gaselys's needs and the requirements of the European gas and power industries, which vary from country to country. Those enhancements address:
. Capacity Management, both Booking and Trading
. Hourly Balancing & Nominations
. Calorific Value Measurements
SolArc TIES II will be implemented at Gaselys by the end of Q3 2007 and will enable a tighter and more efficient control upon the transmission capacity position developments. Furthermore the data processing automation brought by the integration of such enterprise solution will save costs and manual efforts.
Brad Anderson, CEO of SolArc, said, "We are excited to partner with Gaselys, a top tier energy company. Associating with Gaselys validates our efforts to serve the needs of the European energy industry and we look forward to a long and productive relationship."
Thierry Daubignard, CEO of Gaselys, commented: "Gaselys has selected SolArc TIES II solution for its ability to cope with the growing complexity of the European natural gas and power physical system and trading environment. Its open architecture and high degree of functionality will provide Gaselys with a cutting edge tool in its daily trading operations".
About Gaselys
As a subsidiary of Gaz de France (51%) and Societe Generale (49%), Gaselys combines a unique mix of industrial and financial know-how and uses its comprehensive knowledge of physical and financial energy trading to provide customer oriented Risk Management solutions and asset optimization services.
Created in 2001, Gaselys ranks today among the top players on European gas hubs. Leveraging on significant trading flows as well as complex derivative expertise, Gaselys stands among the few energy traders able to tailor relevant hedging and optimisation solutions for every type of player in the market on a large span of underlyings - gas, oil, power, CO2, coal - and locations.
www.gaselys.com
About SolArc
SolArc, Inc. is an innovative, market-focused software company that dramatically improves performance of commodity-intensive businesses. The flagship product, SolArc RightAngle, integrates deal capture, scheduling, inventory management, pricing, accounting, position reporting and risk analysis in a single platform solution.
SolArc's products work with existing information systems including corporate ERP systems to provide customers with a flexible solution that leverages their existing systems' infrastructure. Customers receive competitive advantages from reduced transaction costs and improved commodities procurement and trading decisions based on accurate position reporting and inventory management.
Headquartered in Houston, SolArc also has offices in Tulsa, Oklahoma, London, Singapore, Beijing, and Hong Kong. For more information on SolArc's products, visit www.solarc.com.