World Energy Solutions, Inc.

November 13, 2006 16:40 ET

World Energy Solutions, Inc. Announces Pricing of Initial Public Offering

WORCESTER, MASSACHUSETTS--(CCNMatthews - Nov. 13, 2006) - World Energy Solutions, Inc. today announced that it has priced its initial public offering of 27,441,064 shares of common stock at CDN $1.05 (approximately US $0.93) per share. The offering includes 20,000,000 shares to be sold by World Energy and 7,441,064 shares to be sold by certain selling shareholders. World Energy has granted the underwriters the right to purchase up to an additional 3,000,000 shares to cover over-allotments. The offering is expected to close on or about Thursday, November 16, 2006 and is subject to the satisfaction of customary closing conditions. World Energy's common shares will trade on the Toronto Stock Exchange under the symbol XWE.

World Energy will receive estimated net proceeds of approximately US$15.2 million from the offering which it intends to use to fund acquisitions, develop a green credits platform, retire outstanding debt, grow its channel partner base, target other energy-related markets, target utilities and expand its government relationships.

Sprott Securities (USA) Limited is acting as lead bookrunning manager for the offering. Canaccord Adams and CIBC World Markets are co-managers.

A copy of the prospectus relating to this offering may be obtained from Sprott Securities, Royal Bank Plaza, South Tower, Suite 2800, Toronto, Ontario M5J 2J2. It may also be accessed directly from the U.S. Securities and Exchange Commission at

The final supplemented Canadian prospectus will be filed with the applicable Canadian securities authorities and will be available at

This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities or any acceptance of an offer to buy these securities in any State, province or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to their registration or qualification under the securities laws of any such State, province or jurisdiction.

About World Energy

World Energy is an energy brokerage company that has developed an online auction platform, the World Energy Exchange, through which energy consumers in the United States are able to purchase electricity and other energy resources from competing energy suppliers. While our core competency is brokering electricity, we have adapted our World Energy Exchange auction platform to accommodate the brokering of natural gas, green power, and certain other energy-related products.

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