WORCESTER, MA -- (Marketwire) -- 06/14/12 -- World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has been selected by NSTAR, the largest Massachusetts-based, investor-owned electric and gas utility and a Northeast Utilities company (NYSE: NU), as an approved contractor within its Municipal Program. The program is designed to help municipalities in Massachusetts save money on energy through the implementation of energy efficiency measures.
As an NSTAR Municipal contractor, World Energy is now approved by the utility to provide comprehensive energy conservation measures, including lighting, energy management systems (EMS), HVAC, retro-commissioning and installing variable frequency drives, throughout the NSTAR service territory. The cost of these efficiency projects is being supplemented directly by NSTAR, with the utility offering incentives for qualifying lighting and mechanical retrofits.
The new designation marks the second for World Energy within the NSTAR service territory, and its fourth utility efficiency program designation this year. Recently, the Company was selected by NSTAR to participate in its Direct Install Program, providing efficiency implementations for small businesses. In Connecticut, World Energy was selected to provide efficiency services for the Small Business Energy Advantage Program as administered by CL&P and United Illuminating.
'Gaining the NSTAR Municipal designation opens the door to many more project opportunities for our energy efficiency practice in Massachusetts, while deepening the productive relationship we have struck with NSTAR,' said Bruce Buckbee, Vice President, Efficiency, at World Energy Solutions. 'We are pleased to have earned four key efficiency designations from major New England utilities in such a short time, an accomplishment which is helping us bring the benefits of energy efficiency to more customers throughout the region.'
In addition to its growing stature in the Massachusetts energy efficiency market, World Energy has run hundreds of successful electricity, natural gas and renewable energy procurements -- driving millions of dollars in savings in the process -- for customers throughout the Commonwealth, including: Bayer MaterialScience, City Sports, and Tedeschi Food Shops; the Cities of Newton, Springfield, and Worcester; The Commonwealth of Massachusetts; and The U.S. General Services Administration, New England Region, just to name a few.
To learn more about how World Energy can help your municipality lower its total energy costs, contact John Duquette, Vice President, Sales, at 508-459-8151 or email@example.com, or see www.worldenergy.com/efficiency.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade program for CO2 emissions. For more information, please visit www.worldenergy.com.
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.