CHICAGO, IL and WORCESTER, MA -- (Marketwire) -- 06/12/12 -- World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced Mercy Hospital & Medical Center, one of Chicago's leading not-for-profit care centers and safety-net hospitals, has successfully procured electricity, natural gas and green power for its facilities over the World Energy Exchange®.
The online auctions, administered by World Energy through a partnership with Practice Greenhealth, a nonprofit membership organization dedicated to reducing the healthcare industry's environmental impact, were highly competitive and resulted in significant choice and savings. For example, 9 suppliers competed for Mercy's estimated annual 25 million kWh electricity load, bidding over 60 times on various term lengths and mixes of renewable energy to win the business. The resulting electricity contract, which includes 10% green power, is expected to save Mercy more than $350,000 annually compared to its prior one. Additionally, its new natural gas contract is expected to save the hospital nearly $100,000 per year.
By investing aggressively in renewable energy, Mercy Hospital & Medical Center, a member of the Chicago Green Healthcare Initiative, will reduce its carbon dioxide emissions by approximately 1,735 metric tons each year. This reduction is the equivalent of each of the following:
- Annual greenhouse gas emissions from 340 passenger vehicles
- CO2 emissions from 4,034 barrels of oil consumed
- Greenhouse gas emissions avoided by recycling 604 tons of waste instead of sending it to the landfill
- Carbon sequestered annually by 17.2 acres of forest preserved from deforestation
(Source: EPA Greenhouse Gas Equivalencies Calculator)
'Having seen World Energy's auction process in action, we are convinced this is the best method to secure competitive pricing in the energy market and meet our sustainability goals,' said Sister Sheila Lyne, President and CEO of Mercy Hospital & Medical Center. 'We appreciate that World Energy and Practice Greenhealth have delivered on their promises, helping us be more strategic in how we engage the market and buy our energy. The money we saved through this process is an added benefit, one that will advance our mission of providing quality care to all who need it.'
Added Phil Adams, CEO of World Energy Solutions: 'Hospitals and health systems around the country are looking to maximize their energy dollars and are finding a strategic ally in World Energy. Our proven approach makes a difference in these important procurements, heightening competition for a customer's business. We are proud to provide Mercy Hospital & Medical Center and other care-giving facilities a service that contributes to their operational well-being, advances their sustainability initiatives and ultimately supports their important work in the community.'
About Mercy Hospital & Medical Center
As Chicago's first teaching hospital, Mercy Hospital has been caring for Chicago for more than 159 years. Committed to excellence and providing the best in quality health care, patients find world-class medicine with compassion, convenience and an undeniable spirit that sets it apart from other hospitals. Home to one of the Nation's leading Heart & Vascular Centers, Mercy Hospital was recently named one of the Nation's 100 Top Hospitals® for cardiovascular care by Thompson Healthcare and designated a Blue Distinction Center for Cardiac Care® by Blue Cross and Blue Shield. Also home to a certified Stroke Center, new Cancer Center, Comprehensive Breast & Women's Health Care Center, and a state-of-the-art Emergency Center that includes the Higginbottom Urgent Care for Kids Unit, Mercy provides a comprehensive approach to health care for the entire family.
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 $30 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.