SOURCE: World Energy Solutions

September 14, 2010 08:31 ET

World Energy Inks Alliance With Caterpillar Dealer, Alban Engine; Lands Rights to Auction 1,500+ MW of Demand Response

PJM-Based Alban Engine Expands Customer-Service Offering With Demand Response, Monetizing It Through the World DR Exchange™

WORCESTER, MA and ELKRIDGE, MD--(Marketwire - September 14, 2010) - World Energy Solutions, Inc. (NASDAQ: XWES) (TSX: XWE), a leading energy management services firm, today announced a strategic agreement in the world of demand response -- an alliance with Alban Engine Power Systems (Alban Engine) that provides World Energy the opportunity to auction over 1,500 MW of load Alban Engine currently has under maintenance service contracts. Under the agreement, Alban Engine, an authorized Caterpillar dealer, will offer demand response as part of its premium service package for customers.

Alban Engine currently manages more than 1,000 power-system service contracts for customers within the PJM Interconnection. It safeguards these systems through comprehensive service agreements that can include daily remote monitoring, extended warranty provisions, and repairs and maintenance performed by factory-trained technicians using genuine OEM parts. Providing demand response to customers with an established sales and service relationship is a logical extension of Alban Engine's service capabilities, and its agreement with World Energy represents that next step. Alban Engine will identify and solicit customers to participate in its demand response programs, working with World Energy to auction their load within the demand response marketplace.

"Alban Engine has been in the power-generation business for nearly 40 years, servicing the mission-critical needs of a large and loyal customer base," said Jamie Alban, the President and fourth-generation owner of Alban Engine. "Finding new ways to deliver value to customers is central to our way of thinking, and we see demand response as an exciting and strategic new addition to our capabilities, one that World Energy can help us most efficiently and effectively capture."

Added Richard Domaleski, CEO of World Energy: "Gaining access to over 1,500 MW of curtailment capacity is a major development for World Energy and the industry at large. Early auction activity with Alban Engine for the 2010 demand response season was positive, and we look forward to helping roll out this service to more of their customers for 2011 and beyond."

The World DR Exchange™ is the industry's first online marketplace for demand response. Demand response programs reduce energy usage during times of peak demand, providing a valuable service to utility grid operators that helps prevent blackouts and diminishes the need for building new power plants. The World DR Exchange provides a structured auction process designed to maximize a company's share of demand response revenues.

About Alban Engine Power Systems
Since 1972, Alban Engine has provided specialized power solutions to meet even the most complex needs for the Electric Power Generation marketplace. Alban Engine offers a full range of diesel and gas generator sets, switchgear, automatic transfer switches, UPS systems, and SCRs for standby and prime power applications. This integrated approach, along with a dedicated team of engineers, sales and service experts, allows the Company to provide one safe source for all customer power requirements. From system design to bid specs, procurement to installation, and operation to maintenance and demand response services, Alban Engine provides the products and expertise to secure power for all critical missions. With more than 600 employees and 14 locations, Alban is committed to providing world class services to its commercial and government customers. For more information, please contact Alban at (410) 796-8000 or email: Energy@AlbanCat.com

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

    Matt Graham
    Alban Engine Power Systems
    (443) 610-0368
    Email Contact

    or

    Erika Moran
    IRG for World Energy
    (212) 825-3210
    Email Contact