BOSTON and WORCESTER, Mass., Jan. 23, 2014 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq: XWES ), a leading energy management services firm, today announced it has helped Boston Sand & Gravel Company, a leader in the ready mixed concrete and aggregate industries, implement two major projects to cut energy consumption at its main manufacturing and maintenance facilities in Boston. Through a series of mechanical and lighting retrofits executed by World Energy, and incentives, including a zero percent financing option, offered by NSTAR, the energy efficiency measures are anticipated to reduce energy usage by approximately 19%. The combined projects, incentives and financing provide Boston Sand & Gravel a two-year payback with no out-of-pocket expense.
Boston Sand & Gravel initially engaged World Energy to help design controls for its manufacturing process. Along with implementing process controls and variable frequency drives (VFDs), which will make the firm's dust collectors and conveyor systems operate more efficiently, World Energy identified additional areas for energy-savings across Boston Sand & Gravel's manufacturing, warehouse and maintenance facilities. These new measures included lighting upgrades and lighting controls, which have now been implemented. By using LED lighting fixtures across its operations, including the spotlight that illuminates its signature American flag (see images at http://bit.ly/1mi1Oj3 ), Boston Sand & Gravel expects to reduce lighting costs by 50-75%.
"Resource conservation and minimizing our operational impact on the environment are key tenets of our business and sustainability strategies, so teaming with World Energy on this energy efficiency initiative made great sense to us," said Linda Charpentier, Director EHS, Boston Sand & Gravel. "Because of the demanding logistics of delivering a just-in-time product to our customers, it was great to work with a firm that could smoothly manage the project from start to finish, minimizing distractions. The World Energy team did a great job of identifying energy-savings opportunities, implementing the needed measures, and acting as our liaison with the utility to expedite the project and maximize our savings."
Added Rick Galipeau, Vice President and General Manager of Energy Efficiency at World Energy Solutions: "Our expertise in both mechanical and lighting retrofits, as well as our extensive experience working with utilities, helps us engage with companies such as Boston Sand & Gravel in a strategic way that drives transformative results. This skill set, underscored by the growing number of successful projects we have executed on behalf of our customers, is establishing World Energy as a go-to player within NSTAR's energy efficiency programs and across the region."
About Boston Sand & Gravel
Established in 1914 and proudly providing a century of service, Boston Sand & Gravel Company is a leader in the ready mixed concrete and aggregate industries in southeastern New England. Boston Sand & Gravel services its customer base with ready mix concrete, aggregate, sand, with a fleet of concrete mixers, trucks and a short line railroad. We provide quality products to the most demanding construction projects throughout the region, including Central Artery/tunnel project, waste water treatment plants, nuclear power plants, high rise-buildings and slurry wall construction.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (Nasdaq: XWES ) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $40 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $2 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. For more information, please visit http://www.worldenergy.com/ " rel="nofollow"> www.worldenergy.com .
This press release contains forward-looking statements. The words "anticipates," "believes," "estimates," "expects," "intends," "may," "plans," "projects," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company has based these forward-looking statements on its current expectations and projections about future events, including without limitation, its expectations of backlog and energy prices. Although the Company believes that the expectations underlying any of its forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary materially and adversely from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to the following: the Company's revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for the Company's services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; the potential impact on the Company's historical and prospective financial results of a change in accounting policy may negatively impact its stock price; and other factors outside the Company's control that affect transaction volume in the electricity market. Additional risk factors are identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent reports filed with the Securities and Exchange Commission. The forward-looking statements made in this press release are made as at the date hereof. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, other than as required by securities laws.
For additional information, contact: Dan Mees World Energy Solutions, Inc. (508) 459-8156 Linda Charpentier Boston Sand & Gravel Company (617) 759-3143
