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May 5, 2008
Company Takes World Green Exchange Success Abroad
May 5, 2008 - Worcester, MA. World Energy Solutions, Inc. (TSX: XWE), a leading operator of online exchanges for energy and environmental commodities, today announced the company will be participating in the upcoming Carbon Expo Conference hosted by the International Emissions Trading Association (IETA). Taking place May 7-9, 2008 in Cologne, Germany, leaders in today’s global CO² market will gather to discuss the latest innovations in carbon emissions mitigation and climate development.
To schedule a meeting with World Energy at Carbon Expo, Booth F-26 in Hall 11.1, please contact:
Ken Bertino
Senior Vice President, Environmental Markets
World Energy Solutions, Inc.
kbertino@worldenergy.com
+1.215.221.4684
Building Momentum in the Environmental Commodities Market
World Energy has recently enjoyed a string of successes in its environmental commodities business, notably its recent selection by the Regional Greenhouse Gas Initiative (RGGI) to provide services related to the design and implementation of the regional allowance auction for the first cap-and-trade program in the U.S (subject to contract completion). In an earlier statement, RGGI said that the first ever CO2 allowance auction in the nation for a mandatory emissions reduction program is scheduled to take place on September 10, 2008, followed by a second auction on December 17, 2008. Regional auctions will take place on a quarterly basis, with the first compliance period for the RGGI cap-and-trade program to begin on January 1, 2009.
To view the full release, visit: RGGI Announcement.
World Energy Officially Launches World Green Exchange
In an earlier statement this year, World Energy announced the official launch of its World Green Exchange online auction platform. Since 2003, World Energy has transacted nearly 1 billion kilowatt hours of green power over its award-winning World Energy Exchange. Seeing the need for an auction platform for environmental commodities, World Energy adapted its World Energy Exchange auction technology and proven process to create a trusted and transparent marketplace in which to buy or sell green power, RECs, VERs, CERs and carbon offsets – the World Green Exchange.
In past months, World Energy has successfully completed a spate of pioneering transactions in the renewable energy, green credit and carbon markets:
- Carbon emission compliance-Verdant Energy, a leading Canadian power supplier, auctioned off 80,000 metric tonnes of carbon offsets under the recently established Alberta Offset System-the first compliance-based auction of carbon offsets in North America. The forward auction yielded a price significantly higher than prices quoted to Verdant before the auction.
- Voluntary Emission Reductions-Atmosclear, an organization committed to providing offsets to help consumers and businesses reduce their contribution to global warming, was able to sell 75,000 metric tonnes of VERs at a 20% premium in a forward auction.
- Solar Renewable Energy Certificates - MMA Renewable Ventures ran a forward auction for 1500 solar renewable energy certificates, earning a premium over prevailing bid-ask prices.
- Renewable Energy Certificates – For a Midwest utility, World Energy sourced RECs at an 8% discount to the utility’s price target.
- Green power – A reverse auction for renewable energy yielded a 17 percent greening of the State of Connecticut’s overall energy portfolio, causing the EPA to cite the state government as one of the greenest in the country.
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About World Energy Solutions, Inc.
World Energy 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 over 40 billion kwh of electricity, nearly one billion kwh of green power and Renewable Energy Certificates (RECs) and one trillion cubic feet of natural gas. 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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