
FOR IMMEDIATE RELEASE
Eye Care Leader Procures 40 million kWh on the World Energy Exchange
March 2, 2007. Worcester, MA . World Energy Solutions, Inc. (TSX: XWE) announced today the successful completion of an on-line energy auction which enabled a leading eye health provider to purchase its electricity requirements for the next 12 months, estimated to be 40 million kWh on historical usage.
“We’re pleased to add this market leader to the list of companies that have taken full advantage of the deregulated electricity market by purchasing through the World Energy Exchange,” said Philip Adams, Chief Operating Officer for World Energy. “When you stop and realize that energy costs can be one of the most significant expenditures a company faces, it only makes sense to procure that energy at the best possible price and in a manner that’s fully compliant with legislative mandates for fair and open competition and auditability. The online auction is self-documenting, which can make it much easier for companies to comply with Sarbanes Oxley rules when compared with a traditional RFP process.”
This procurement marks the eye care provider’s first competitive electric power procurement using an on-line energy auction. Six suppliers bid on the 12-month contract, which was subsequently awarded to Liberty Power, a certified Minority Business Enterprise (MBE) based in Ft. Lauderdale, FL. “Liberty Power is excited to have been selected by the eye health company through the World Energy Exchange,” said David Hernandez, CEO of Liberty Power. “We look forward to having them join our other corporate customers who value our unique ability to help them meet their energy procurement as well as their supplier diversity goals.”
About World Energy Solutions, Inc.
World Energy is an energy brokerage company that has developed an online auction platform, the World Energy Exchange, through which energy consumers in the United States are able to purchase electricity and other energy resources from competing energy suppliers. To date the company has brokered over 31 billion kilowatt hours of electricity and 64 million decatherms of natural gas.
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Forward Looking Statements
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: that our revenue is dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is effected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; our dependence on a small number of key energy consumers, suppliers and channel partners; factors outside our control that affect transaction volume in the electricity market; and other factors identified in our Registration Statement on Form S-1 and subsequent reports filed with the Securities and Exchange Commission.
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