PowerSecure Announces $10 Million of New Business Awards
by Business Wire
PowerSecure International, Inc. (Nasdaq: POWR) today announced it has received $10 million of new business for distributed generation systems.
The new distributed generation awards are turn-key revenue projects, including more than $5 million for a 7.5MW Interactive Distributed Generation® system for a major northeastern hospital using PowerSecure’s proprietary PowerBlock® solution.
A variety of turn-key retail, municipal, industrial and military projects comprise the remainder of the new awards.
“We recently reported our backlog at an all-time record and are very happy to see strong ordering patterns from many of our customers, and the continued progress of our hospital-focused sales efforts, to start the year,” said Sidney Hinton, chief executive officer of PowerSecure.
The majority of this new turn-key revenue is expected to be recognized in 2013.
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 energy efficiency, distributed generation, and utility infrastructure. The company is a pioneer in developing Interactive Distributed Generation® (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 times, 2) provide utilities with firm capacity to utilize for demand response 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 business develops efficient LED lighting technologies that improve the quality of light, including its proprietary EfficientLights® LED lighting products for grocery, drug and convenience stores, and its SecureLite and PowerLite street lights for utilities and municipalities. PowerSecure’s utility infrastructure team 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.
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