PowerSecure's Distributed Generation Systems Operating Daily to Bolster the Supply of Electricity and Provide Emergency PowerWAKE FOREST, N.C., Jan 12, 2010 (BUSINESS WIRE) -- PowerSecure International, Inc. (Nasdaq: POWR) today announced that its distributed generation systems have been in daily operation to support utilities and businesses across the country with power during the cold snap that is gripping the nation. Since the cold snap began on January 1, PowerSecure has placed over 600 distributed generation systems into operation, delivering unprecedented amounts of power to bolster the supply of electricity on utilities' electric grids, and providing emergency power to businesses experiencing outages. In total, PowerSecure's systems have run over 5,600 hours supplying utilities and their customers with mission-critical power over the last eleven days.
This most recent event comes on the heels of a productive year for PowerSecure's Interactive Distributed Generation(R) systems. During 2009, these smart grid systems were deployed 7,576 times on behalf of utilities to supplement the grid with more efficient power during periods of peak load. This result is up 12% over 2008, demonstrating the systems' high productivity and the strong value they provide delivering efficient, dependable on-site power. These smart grid systems provide value in multiple ways, including:
1) Reducing the cost of electricity during peak power periods,
2) Protecting against power losses and avoiding costly interruptions and spoilage,
3) Minimizing energy transmission losses, and
4) Improving the efficiency of the electricity grid.
The Company's Interactive Distributed Generation (IDG(R)) systems are monitored and controlled electronically "24 x 7" by PowerSecure's Smart Grid Monitoring Center. This monitoring center forecasts high cost periods of peak electricity demand, and deploys more efficient power at optimal times and durations, providing bottom-line benefits by reducing electricity costs. In addition, the environment benefits from reduced carbon emissions because the systems can be dispatched more efficiently than utilities' traditional spinning reserves to meet peak power demands. PowerSecure's systems provide security, business continuity and efficiency for industrial, commercial, municipal, and institutional operations.
Sidney Hinton, CEO of PowerSecure, said, "We couldn't be more pleased with the performance of our systems and our team in our support of utilities and their customers during this major cold snap. Over the last two weeks, we have executed hundreds of load management events, and provided emergency power to dozens of locations. The cold has stressed the grid in unpredictable ways, and our IDG monitoring and service teams are working around the clock to ensure power is ready to be deployed at a moment's notice. In addition, our Utility Services team is actively supporting utilities with their power restoration efforts. Our folks have earned a tremendous reputation for the "all-out" effort they give during weather events like these - and we are incredibly fortunate to have such a strong, dedicated team supporting our utility partners and customers."
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, as well as Energy Services to the oil and natural gas industry. PowerSecure's Energy and Smart Grid Solutions businesses provide products and services in the areas of Interactive Distributed Generation(R), Utility Infrastructure, and Energy Efficiency. The Company is a pioneer in developing Interactive Distributed Generation(R) systems with sophisticated, proactive smart grid capabilities, including the ability to 1) forecast peak electricity demand and electronically deploy the systems to deliver more efficient, and environmentally friendly power, 2) provide utilities with dedicated electric power generation assets for their demand response needs, and 3) provide customers with the most dependable standby power in the industry. PowerSecure also provides utilities with regulatory consulting, power system and transmission engineering and construction, and provides businesses with energy efficiency products and services, including its state-of-the art EfficientLights lighting solution for refrigerated cases. The Company provides Energy Services to the oil and natural gas industry through its Southern Flow and WaterSecure business units. Additional information is available at http://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 outlook for the businesses discussed in this press release and the Company's future revenues, earnings, margins, and other financial and operating information and data; the outlook for growing the Company through innovative energy management and conservation; business operations and prospects for the Company; the outlook for future gains in the Company's revenues due to its business initiatives; the anticipated results of the Company's products, solutions, 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 Company's Annual Report on Form 10-K for the year ended December 31, 2008, 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.
SOURCE: PowerSecure International, Inc.
PowerSecure International, Inc.
Chris Hutter, 919-453-1760
Chief Financial Officer
