By Company Weaves Together Energy Procurement and Efficiency with Utility Incentives and On-Bill Financing to Deliver Major Benefits at Minimal Cost
Glastonbury, CT and Worcester, MA - January 23, 2013 - World Energy Solutions, Inc. (NASDAQ: XWES), a leading energy management services firm, today announced it has developed and successfully executed a comprehensive energy management plan for Healthtrax Fitness & Wellness (Healthtrax) that is set to save the regional health club operator more than $1 million over four years.
The World Energy-led project is one of the most comprehensive in the Company's history, combining multi-state, multi-facility electricity procurements via its online auction platform, the World Energy Exchange®, with several energy efficiency projects, including the installation of new high-efficiency HVAC, lighting and energy management systems. By working closely with utilities in CT and MA, World Energy secured several hundred thousand dollars of efficiency incentives and low-interest financing for Healthtrax for the needed hardware. In sum, the engagement is delivering seven-figure savings to Healthtrax with minimal out-of-pocket expense.
"World Energy has really stepped up to help us solve an energy and equipment problem that was important to our business," said Ken Navarro, CEO of Healthtrax Fitness & Wellness. "We had several sites with aging HVAC units. The team at World Energy closely evaluated our situation and produced a playbook that has enabled us to pay less for energy, use less of it, and maximize incentives from the utilities to make the purchase and implementation of these new systems possible.
"I'm very pleased with the results we've achieved to date and am proud to say that thanks to our relationship with World Energy, energy management is playing an important role in improving our bottom line as well as our member experience."
Beginning with a series of online auctions run for more than a dozen facilities in CT, MA, MD, NJ and RI, World Energy was able to reduce Healthtrax's energy supply cost by more than 20 percent. World Energy also has completed eight energy efficiency projects for Healthtrax across New England, saving nearly 1 million kWh annually.
"The complexity of energy management - the array of choices, programs, middle-men and technologies - is daunting for small and medium-sized businesses, making it very difficult for them to make the right energy decisions for their companies," said Bruce Buckbee, Vice President at World Energy Solutions. "We work closely with customers such as Healthtrax to match their needs with the opportunities available to them in the market, providing them a path to lower energy costs and the executional excellence to get them there."
Concluded Phil Adams, CEO of World Energy Solutions: "We have transformed ourselves from being the best company at energy procurement to an emerging leader in energy management, offering a suite of solutions that today's companies are seeking. Through our recent acquisitions, and with our P
