PowerSecure International, Inc. (PowerSecure), a US based provider of energy management and conservation solutions, has received about $10 million orders from utilities and businesses. The contract is for smart grid solutions and new EfficientLights LED lighting technology. The orders are for products and services in Interactive Distributed Generation (IDG) Systems, NexGear Systems, Utility Infrastructure Projects and EfficientLights LED Lighting Technology.
The new awards incorporated orders for the products and services in following areas:
IDG Systems: The order is for smart grid-enabled distributed generation systems with the advanced technology supported 24 by 7 by company’s IDG monitoring team who proactively forecasts peak electricity demand and electronically installs the systems to offer more efficient, and environmentally friendly power, and stands watch to ensures the customers are protected from the power loss with the most dependable standby power system in industry.
NexGear Systems: The order is for advanced switchgear systems and the electronic controls, incorporating the capability to connect and be monitored by the company’s IDG monitoring team for peak shaving and standby power needs.
Utility Infrastructure Projects: The order is for the design and construction of the utility infrastructure projects in partnership with the company’s utility partners to support the power needs of major institutional and business customers.
EfficientLights LED Lighting Technology: The order is for company’s new EfficentLights LED lighting technology, incorporating a major grocery chain that has chosen the company’s EfficientLights to replace its fluorescent lights in refrigerated cases for over 50 stores in early 2009. Company’s EfficientLights technology decreases refrigerated cases’ lighting energy use by a substantial 70 percent, reduces ongoing maintenance costs related with traditional fluorescent lighting, extends life of the lighting solution a minimum of five-fold, and removes the disposal of fluorescent bulbs that contain mercury. Importantly, it offers a significantly upgraded quality of light to a refrigerated case, improving the consumer’s in-store shopping experience.
These new awards include about $9 million of project-based business, and $1 million of the long-term recurring revenue contracts. The $9 million of project-based business is anticipated to be completed and recognized in 2009, and revenue from the long-term recurring revenue business will be recognized over life of the contracts (averaging 7-10 years).
Sidney Hinton, chief executive officer of PowerSecure, stated, We are very pleased to announce these new projects. These new orders are for solutions that make our grid smarter, and utilize our energy more efficiently. The practical advantage our solutions carry is simple: we engineer our products smarter – with technology that works – and we solve real problems and deliver real value with a strong return on investment for our customers. We couldn’t be more pleased with these sales in a very difficult environment, a testament to our people and their strong focus on bringing our customers creative, practical energy solutions.”