WAKE FOREST, N.C., Dec. 9, 2015 /PRNewswire/ -- PowerSecure
International, Inc. (NYSE: POWR) today announced it has been
awarded approximately $55 million in
new business, including approximately $39
million of new utility infrastructure business,
approximately $8 million of new
distributed generation (DG) business, approximately $5 million of new energy efficiency business and
approximately $3 million of new solar
business.
"The majority of the new business awards we are announcing today
represent new or expanded work from existing customers. Their
confidence in PowerSecure highlights the high quality of work and
exceptional customer service our teams continue to deliver," said
Sidney Hinton, chief executive
officer of PowerSecure.
"The solar project we announced today, which includes an energy
storage capability, is another example of how customers are relying
on PowerSecure's experience integrating multiple power sources with
our sophisticated controls for some of their most complex
projects," Hinton added.
The new business awards
include:
Distributed Generation
- Approximately $5 million in new
data center projects.
- Approximately $3 million in new
turnkey DG projects for utility, hospital, retail and municipal
customers.
Utility Infrastructure
- Approximately $39 million for
expanded and additional transmission and distribution work with
existing utility customers and new utility customers within current
geographies.
Energy Efficiency
- Approximately $5 million for
municipal, university and other energy efficiency programs in
the United States and Canada for energy services companies (ESCOs)
and other customers.
Solar Energy
- Approximately $3 million for a
new solar project which leverages PowerSecure's deep engineering
and controls expertise for a co-op utility. In addition to the
solar generation, PowerSecure is engineering this project to
accommodate the utility's request to potentially add battery
storage into the project in the future.
About PowerSecure
PowerSecure International, Inc. is a leading provider of utility
and energy technologies to electric utilities, and their
industrial, institutional and commercial customers.
PowerSecure provides products and services in the areas of
Interactive Distributed Generation ® (IDG®),
energy efficiency, utility infrastructure and solar
energy.
The company is a pioneer in developing IDG® power
systems with sophisticated smart grid capabilities, including the
ability to 1) forecast electricity demand and electronically deploy
the systems to deliver more efficient, and environmentally
friendly, power at peak power times, 2) provide utilities with
dedicated electric power generation capacity to utilize for demand
response purposes and 3) provide customers with the most dependable
standby power in the industry. Its proprietary distributed
generation system designs utilize a range of technologies to
deliver power, including renewables.
The company's energy efficiency products and services include
energy efficient lighting solutions that utilize LED technologies
to improve lighting quality, and the design, installation and
maintenance of energy conservation measures which we offer,
primarily as a subcontractor, to large energy service company
providers, called ESCOs, for the benefit of commercial, industrial
and institutional customers as end users.
PowerSecure also provides electric utilities with transmission
and distribution infrastructure maintenance and construction
services, and engineering and regulatory consulting services.
Additional information is available at www.powersecure.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of and made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are all statements other than statements
of historical facts, including but not limited to statements
concerning the amount and timing of the revenues associated with
the new business discussed in this press release; statements
concerning the company's outlook, prospects and expectations for
revenues, net income and E.P.S. results and growth generally; and
all other statements concerning the plans, intentions,
expectations, projections, hopes, beliefs, objectives, goals and
strategies of management, including statements about other future
financial and non-financial items, performance or events and about
present and future products, services, technologies and businesses;
and statements of assumptions underlying the foregoing.
Forward-looking statements are not guarantees of future
performance or events and are subject to a number of known and
unknown risks, uncertainties and other factors that are difficult
to predict and could cause actual results to differ materially from
those expressed, projected or implied by such forward-looking
statements. Important risks, uncertainties and other factors
include, but are not limited to, the size, timing and terms of the
sales awards and new business discussed in this press release; the
ongoing volatility, uncertainty and inconsistency in the economy
and the financial and credit markets and the effects thereof on the
company's markets and customers, the demand for its products and
services, and the company's access to capital; the potential
adverse financial and reputational consequences that can result
from safety risks and hazards such as accidents inherent in the
company's operations; the company's ability to execute on its
business orders, awards and projects efficiently, profitably and
with operational excellence; the impact of the company's recent
acquisitions; the company's ability to reduce and control its costs
and expenses and increase its operating margins and operating
income; the timely and successful development, production and
market acceptance of new and enhanced products, services and
technologies of the company; the ability of the company to obtain
adequate supplies of key components and materials of sufficient
reliability and quality for its products and technologies on a
timely and cost-effective basis and the effects of related warranty
claims and disputes; the ability of the company to successfully
expand its core distributed generation products and services, to
successfully develop and achieve market acceptance of its new
energy-related businesses, to successfully expand its recurring
revenue projects, to manage its growth and to address the effects
of any future changes in utility tariff structures and
environmental requirements on its business solutions; the effects
of competition; the company's ability to maintain and grow its
utility infrastructure revenues on a profitable basis, including
maintaining and improving its pricing, utilization rates and
productivity rates; changes in customer and industry demand and
preferences; the ability of the company to continue the growth and
diversification of its customer base; the ability of the company to
attract, retain, and motivate its executives and key personnel;
changes in the energy industry in general and the electricity, oil,
and natural gas markets in particular, including price levels; the
effects of competition; the ability of the company to secure and
maintain key contracts and relationships; the effects of pending
and future litigation, claims and disputes; and other risks,
uncertainties and other factors identified from time to time in its
reports filed with or furnished to the Securities and Exchange
Commission, including the company's most recent Annual Report on
Form 10-K, as well as subsequently filed reports on Form 10-Q and
Form 8-K, copies of which may be obtained by visiting the investor
relations page of the company's website at www.powersecure.com or
the SEC's website at www.sec.gov.
Accordingly, there is no assurance that the results
expressed, projected or implied by any forward-looking statements
will be achieved, and readers are cautioned not to place undue
reliance on any forward-looking statements. The forward-looking
statements in this press release speak only as of the date hereof
and are based on the current plans, goals, objectives, strategies,
intentions, expectations and assumptions of, and the information
currently available to, management. The company assumes no duty or
obligation to update or revise any forward-looking statements for
any reason, whether as the result of changes in expectations, new
information, future events, conditions or circumstances or
otherwise.
Contact:
John Bluth
(919) 453-2103
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SOURCE PowerSecure International, Inc.
