September 10, 2008
World Energy Wins Prestigious GSA 2008 Environmental Award
WORCESTER, MA, Sept. 10 /PRNewswire-FirstCall/ -- World Energy Solutions, Inc. (TSX: XWE) today announced the Government Services Administration, the lead purchasing arm of the U.S. federal government, has awarded it a 2008 Environmental Award for its pioneering work to provide the Statue of Liberty and Ellis Island with green energy. The award acknowledges the strategic role of World Energy and its World Green Exchange online auction platform in helping the National Park Service successfully - and economically - secure a contract for 100 percent wind power to run these prized national landmarks.
As requested by the National Park Service, GSA's Green Power Procurement Team procured green power for the Statue of Liberty and Ellis Island. The renewable energy procurement was conducted using World Energy's leading online auction platform, on which more than 11,000 successful energy and green commodities transactions have occurred and which will soon be running America's first carbon cap and trade program, the historic Regional Greenhouse Gas Initiative, RGGI (http://www.rggi.org/).
Wind power for the Statue of Liberty and Ellis Island is projected to mitigate global warming by decreasing carbon dioxide emissions by over 3.24ÃÆÃ“Ã“ million tons per year. Use of renewable energy at the historic sites is also expected to reduce emissions of acid-rain-causing chemicals, decreasing sulfur dioxide emissions by over 8,700 tons per year and nitrogen oxide emissions by over 4,400 tons per year.
"We are honored to receive the 2008 Environmental Award from the GSA," said Richard Domaleski, CEO of World Energy. "It validates our team, technology and process for delivering value to our customers across the spectrum of their energy needs. Our ongoing work securing renewable energy contracts for federal, state and commercial entities underscores that the right way to procure renewables is through auction. It also highlights that buyers benefit when they couple renewable energy purchases with traditional energy procurements."
About World Energy
World Energy Solutions, Inc. operates leading online exchanges for energy and environmental commodities. Our proven approach provides market intelligence, promotes liquidity, and creates price transparency for all market participants, enabling our customers to transact with confidence and to seek the best possible price. To date, the company has transacted more than 45ÃÆÃ“Ã“ billion kWh of electricity, 1 billion kWh of green power and Renewable Energy Certificates (RECs) and over 100 billion Dth of natural gas. For more information, please visit http://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: our revenue is 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; we depend on a small number of key energy consumers, suppliers and channel partners; there are factors outside our control that affect transaction volume in the electricity market; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
World Energy Solutions, Inc.