Company's Online Auction Platform, The World Energy Exchange®, Sets Bar for Excellence in Energy Procurement
WORCESTER, Mass., March 26, 2014 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq:XWES), a leading energy management services firm, today announced that its online auction platform, the World Energy Exchange®, received a 2014 Top Product of the Year Award in the Environmental Leader Product & Project Awards. Based on its performance delivering customers energy-cost savings and effective green-power purchasing, the World Energy Exchange was cited by judges as an exemplary product.
One judge said of the World Energy Exchange: "This product provides energy buyers the ability to have greater transparency around procuring green energy. The online auction platform and methodology employed by World Energy Solutions increased the efficiency and desirability for companies to make the switch to green power. The results posted are substantial, over $2B in savings, which becomes a strong business case for customers to avail themselves of this service."
The Environmental Leader Product & Project Awards is a program recognizing excellence in products and services that provide companies with energy and environmental benefits. Scores were determined by a panel of independent judges, headed by Matthew Littlefield of LNS Research, from companies including Anheuser Busch InBev, Arrow Electronics, Autodesk, Citigroup Inc., Con Agra Foods, Environmental & Operational Risk Management, GlaxoSmithKline, ISS Facility Services, Microsoft, Owens Corning, Power Advocate, Puma, Sam's Club, Sustainability and Risk Management Reputation Limited, Trupoint Advisers, the University of California Berkeley, Williams Creek Consulting, and YES Bank.
"The caliber of the entries this year was even more impressive than last year and showed the excitement and innovation taking place in the industry today," says Paul Nastu, publisher of Environmental Leader. "There was tough competition for those that entered, and the products that were awarded Top Product or Project of the Year are those that the judges say have viable attributes that set them apart from others in the field."
For a complete list of winners, visit:
http://www.environmentalleader.com/environmental-leader-product-project-awards/
For an article on the power of online energy auctions click here.
About Environmental Leader
Since 2006, Environmental Leader's website and daily email newsletter have provided the definitive and objective voice in reporting on business-related energy, environmental, and sustainability issues, while Energy Manager Today is the leading daily trade publication keeping corporate executives informed about energy management news. For more information visit: www.environmentalleader.com or www.energymanagertoday.com.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (Nasdaq:XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $40 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $2 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. For more information, please visit www.worldenergy.com.
This press release contains forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company has based these forward-looking statements on its current expectations and projections about future events, including without limitation, its expectations of backlog and energy prices. Although the Company believes that the expectations underlying any of its forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary materially and adversely from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to the following: the Company's revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for the Company's services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; the potential impact on the Company's historical and prospective financial results of a change in accounting policy may negatively impact its stock price; and other factors outside the Company's control that affect transaction volume in the electricity market. Additional risk factors are identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent reports filed with the Securities and Exchange Commission. The forward-looking statements made in this press release are made as at the date hereof. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, other than as required by securities laws.