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8-K - FORM 8-K - POWERSECURE INTERNATIONAL, INC. | c15997e8vk.htm |
Exhibit 99.1
PowerSecure Announces $15 Million of New Business Awards Across
Energy and Smart Grid Solutions Business Lines
Energy and Smart Grid Solutions Business Lines
Wake Forest, N.C. April 27, 2011 PowerSecure International, Inc. (Nasdaq: POWR) today
announced it has received $15 million of new awards for products and services across its Energy and
Smart Grid Solutions business lines. The new business includes orders for approximately $8 million
of Interactive Distributed Generation® (IDG®) smart grid power systems, $5
million of Utility Infrastructure projects, and $2 million of LED lighting products.
The new awards were issued by a broad range of utilities and commercial and industrial customers.
The largest of the awards includes an Interactive Distributed Generation system to support a
municipality, the installation of a new substation on behalf of a
second municipality, and the
installation of the Companys new EfficientLights LED shelf
lighting product for a major U.S. grocers open-style
refrigerated cases. Virtually all of this $15 million of new business is
turn-key project-based revenue, which the Company expects to
recognize primarily during the second through
fourth quarters of 2011.
Sidney Hinton, CEO of PowerSecure, said, We are pleased to announce these new business awards to
serve utilities and customers across our business lines. Highlights include a major retailer who
is embarking on its first installation of our new EfficientLights LED-based shelf lighting, and a
new substation for a municipality. We are committed to delivering gold standard products to all of
the utilities and customers we are serving with these new installations, and we look forward to
serving them with excellence.
About PowerSecure
PowerSecure International, Inc. is a leading provider of Energy and Smart Grid Solutions to
electric utilities, and their commercial, institutional, and industrial customers. PowerSecures
Energy and Smart Grid Solutions businesses provide products and services in the areas of Energy
Efficiency, Interactive Distributed Generation, and Utility Infrastructure. The Companys Energy
Efficiency business provides customers with energy efficient lighting technologies that deliver
improved quality of light, including its proprietary EfficientLights LED lighting products for
grocery, drug, and convenience stores, and its SecureLiteTM and PowerLiteTM
street lights for utilities and municipalities which are available through its EnergyLite business
unit. The Company is a pioneer in developing Interactive Distributed Generation®
systems with sophisticated, proactive 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 power times, 2) provide utilities with dedicated electric
power generation capacity to utilize for demand response purposes, and 3) provide customers with
the most dependable standby power in the industry. PowerSecure also provides utilities with
transmission and distribution infrastructure construction and maintenance services, and engineering
and regulatory consulting services. Additional information is available at
www.powersecure.com.
All forward-looking statements contained in this release are made within the meaning of and
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are all statements other than statements of historical facts, including
but not limited to statements concerning the amount and timing of the revenues associated with the
new business discussed in this press release; the Companys outlook, prospects and expectations for
revenues, net income, and E.P.S. results and growth generally; the anticipated results of the
Companys products, services, and technologies; and all other statements concerning the plans,
intentions, expectations, projections, hopes, beliefs, objectives, goals and strategies of
management, including statements about other future financial and non-financial items, performance
or events and about present and future products, services, technologies and businesses; and
statements of assumptions underlying the foregoing. Forward-looking statements are not guarantees
of future performance or events and are subject to a number of known and unknown risks,
uncertainties and other factors that could cause actual results to differ materially from those
expressed, projected or implied by such forward-looking statements. Important risks, uncertainties
and other factors include, but are not limited to, those risks, uncertainties and other factors
identified from time to time in the Companys most recent Annual Report on Form 10-K, as well as in
subsequent filings with the Securities and Exchange Commission, including reports on Forms 10-Q and
8-K. Accordingly, there can be no assurance that the results expressed, projected or implied by any
forward-looking statements will be achieved, and readers are cautioned not to place undue reliance
on any forward-looking statements. The forward-looking statements in this press release speak only
as of the date hereof and are based on the current plans, goals, objectives, strategies,
intentions, expectations and assumptions of, and the information currently available to,
management. The Company assumes no duty or obligation to update or revise any forward-looking
statements for any reason, whether as the result of changes in expectations, new information,
future events, conditions or circumstances or otherwise.
Contact
Chris Hutter
Chief Financial Officer
PowerSecure International, Inc.
(919) 453-1760
Chris Hutter
Chief Financial Officer
PowerSecure International, Inc.
(919) 453-1760
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