SOURCE: World Energy

World Energy

September 08, 2010 08:30 ET

GSA Awards World Energy 5-Year Energy Management Contract

WORCESTER, MA--(Marketwire - September 8, 2010) - World Energy Solutions, Inc. (NASDAQ: XWES) (TSX: XWE) today announced it has won a major, multi-year contract with the General Services Administration (GSA). The contract provides supply-side energy procurement and management services to the GSA's Energy Division for its extensive network of federal government agencies. Beginning October 1, 2010 and running through September 30, 2015 -- with an option for an additional five-year renewal -- the new contract is one of the most important in World Energy's history.

Over 30 federal agencies, including the Bureau of Prisons, Environmental Protection Agency, Federal Aviation Administration, Internal Revenue Service, National Park Service, Social Security Administration and Veterans Administration, depend on GSA's Energy Division to help them purchase energy commodities, execute energy strategy, and make sense of the continually changing energy landscape. This makes GSA, which manages more than 11 percent of the Federal government's total procurement dollars, one of the largest energy buyers in the U.S. The new contract provides GSA a highly-skilled and accountable partner with whom it can address its short, medium and long-term energy challenges anywhere in the country, encompassing services from energy procurement and efficiency to demand response and renewable energy.

"Over the last decade, the GSA has demonstrated tremendous leadership in energy management, embracing state-of-the-art technologies and best practices to bring new efficiencies, greener energy portfolios, and significant cost reductions to a wider and wider sphere of government energy buyers," said Richard Domaleski, CEO of World Energy. "We view GSA's long-term contract as tremendous affirmation of our award-winning work together and as our new mandate to help the Energy Division deliver another decade of 'state of the practice' solutions to its constituents."

Dating back to 2001, World Energy has had a long and successful relationship with the GSA. Over this period, GSA and its client agencies have won more than a half dozen awards for energy procurement practices, including a 2002 U.S. Department of Energy Federal Energy Management Award for Innovative Technology for Small Groups for supply procurement in the State of New York; a 2003 White House Closing the Circle Award, recognizing outstanding federal environmental efforts; and a 2008 Environmental Award for pioneering work providing the Statue of Liberty and Ellis Island with green energy. Through World Energy, GSA has procured nearly 11 billion kWh of electricity supply and 100 million Dth of natural gas supply for Federal facilities over the course of hundreds of procurement events.

About GSA
Founded in 1949, GSA manages more than 11 percent of the government's total procurement dollars and $24 billion in federal assets, including 8,600 government-owned or leased buildings and 213,000 vehicles. GSA helps preserve our past and define our future, as a steward of more than 480 historic properties, and as manager of USA.gov, the official portal to federal government information and services. GSA's mission to provide superior workplaces, expert technology solutions, acquisition services, purchasing and E-Gov travel solutions and management policies, at best value, allows federal agencies to focus on their core missions.

About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) (TSX: XWE) is an energy management services firm that applies an award-winning combination of people, process and technology to help clients manage energy as a strategic asset. To date, the Company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its Government, Commercial & Industrial, and Utility customers, creating more than $1 billion in value for them. World Energy is also a leader in the growing global carbon market, where its World Green 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.

Contact Information

  • For additional information, contact:

    Dan Mees
    World Energy Solutions, Inc.
    (508) 459-8156
    Email Contact

    Erika Moran
    The Investor Relations Group
    (212) 825-3210
    Email Contact