Date Announced: 15 Feb 2011 Wake Forest, NC - PowerSecure International, Inc. (Nasdaq: POWR) today announced it has received $10 million of new awards for its Interactive Distributed Generation® (IDG®) smart grid power systems, and LED lighting products. The new IDG System awards total $7 million, and include installations for a broad base of customers, including hospitals, municipal water systems, educational facilities, and retailers. The new LED lighting awards total $3 million, and consist primarily of an order from a major US retailer to begin retrofitting refrigerated cases with EfficientLights® energy saving fixtures. This is the Company's first order from this retailer.Of the $10 million of new business, $8 million relates to turnkey product sales of IDG Systems and LED lighting products. The Company expects this $8 million of turnkey revenue will be recognized primarily during the first three quarters of 2011. The remaining $2 million of new business relates to recurring revenue contracts for IDG systems. These systems are expected to be installed during the first half of 2011, and the revenues are expected to be recognized over a fifteen year period.Sidney Hinton, CEO of PowerSecure, said, "We are pleased to announce these new business awards for our IDG Systems and LED lighting products. We are excited to announce that a new major retailer has started installing our EfficientLights lighting in their stores, and we are very eager to prove the strong value our product can bring to their operations. In addition, our new IDG System sales include a nice combination of turnkey and recurring revenue business, with installations for a wide range of customers."About PowerSecurePowerSecure International, Inc. is a leading provider of Energy and Smart Grid Solutions to electric utilities, and their commercial, institutional, and industrial customers. PowerSecure's Energy and Smart Grid Solutions businesses provide products and services in the areas of Energy Efficiency, Interactive Distributed Generation, and Utility Infrastructure. The Company's 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 SecureLite™ and PowerLite™ 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.
Contact
Chris Hutter Chief Financial Officer, PowerSecure International, Inc. +1-919-453-1760
E-mail:[email protected]
Web Site:www.powersecure.com
