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July 27, 2009
Large Natural Gas Deal Marks World Energy’s Breakthrough in Oregon Market, Saving University $1.9 Million
Portland, OR and Worcester, MA – July 27, 2009 – World Energy Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green commodities, today announced Oregon Health & Science University, the State’s only academic health center and Portland’s largest employer, has procured 750,000 Dth of natural gas through the World Energy Exchange®. The procurement is set to deliver OHSU more than $1.9 million in savings over the prior year’s utility rate.
With a statewide mission and numerous sites in and around Portland, OHSU requires significant energy resources. World Energy worked closely with OHSU to help it understand its options beyond staying on the utility, develop and market an RFP, and test natural gas pricing among various third-party suppliers. This competitive process culminated in a successful transaction on May 29, 2009, with delivery beginning on November 1, 2009.
“World Energy helped us move beyond business as usual to make our energy procurement more strategic, competitive and cost-effective,” said Ken Roberts, Utilities & Energy Manager for OHSU. “Until working with their expert team, we had always contracted with our utility. World Energy helped us every step of the way to better understand our procurement opportunities, spur competition, and execute the right contract, at the right rate, for us.”
Added Phil Adams, President of World Energy: “Colleges and universities around the country are viewing their energy use and procurement more strategically. It seems only fitting that OHSU, Oregon’s leading research university, is moving to the front of the class in its embrace of an online, technology-based procurement method for purchasing energy. World Energy values the opportunity to serve one of Oregon’s premiere institutions and demonstrate the benefits delivered by our people, process and platform.”
About OHSU
Oregon Health & Science University is the state’s only health and research university, and Oregon’s only academic health center. OHSU is Portland’s largest employer and the fourth largest in Oregon (excluding government). OHSU’s size contributes to its ability to provide many services and community support activities not found anywhere else in the state. It serves patients from every corner of the state, and is a conduit for learning for more than 3,400 students and trainees. OHSU is the source of more than 200 community outreach programs that bring health and education services to every county in the state.
About World Energy Solutions, Inc.
World Energy (NASDAQ: XWES; TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas, capacity, and green-energy assets who are impacted by today’s volatile markets, World Energy’s proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to enabling customers to seek competitive pricing on traditional energy commodities, World Energy is taking a leadership position in the emerging environmental-commodities markets. Its award-winning World Green Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative’s (RGGI) cap and trade program for CO2 emissions. For more information, please visit 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.
SOURCE: World Energy Solutions, Inc.
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