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| [January 28, 2013] |
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PowerSecure Announces $10 Million of New Business Awards
WAKE FOREST, N.C. --(Business Wire)--
PowerSecure International, Inc. (Nasdaq: POWR) today announced it has
received $10 million of new business for distributed generation systems.
The new distributed generation awards are turn-key revenue projects,
including more than $5 million for a 7.5MW Interactive Distributed
Generation® system for a major northeastern hospital using
PowerSecure's proprietary PowerBlock® solution.
A variety of turn-key retail, municipal, industrial and military
projects comprise the remainder of the new awards.
"We recently reported our backlog at an all-time record and are very
happy to see strong ordering patterns from many of our customers, and
the continued progress of our hospital-focused sales efforts, to start
the year," said Sidney Hinton, chief executive officer of PowerSecure.
The majority of this new turn-key revenue is expected to be recognized
in 2013.
About PowerSecure
PowerSecure International, Inc. is a leading provider of utility and
energy technologies to electric utilities, and their industrial,
institutional and commercial customers. PowerSecure provides products
and services in the areas of energy efficiency, distributed generation,
and utility infrastructure. The company is a pioneer in developing
Interactive Distributed Generation® (IDG®) power
systems with sophisticated 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 times, 2) provide utilities with firm capacity to utilize for
demand response and3) provide customers with the most dependable
standby power in the industry. Its proprietary distributed generation
system designs utilize a range of technologies to deliver power,
including renewables.
The company's energy efficiency business develops efficient LED lighting
technologies that improve the quality of light, including its
proprietary EfficientLights® LED lighting products for
grocery, drug and convenience stores, and its SecureLite and PowerLite
street lights for utilities and municipalities. PowerSecure's utility
infrastructure team provides electric utilities with transmission and
distribution infrastructure maintenance and construction 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 Company's outlook, prospects and expectations for revenues,
net income and E.P.S. results and growth generally; the anticipated
results of the Company's 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 Company's 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.

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