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Spartech Expects to Cut Over $1 Million in Energy Costs With World Energy Solutions
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ST. LOUIS, MO and WORCESTER, MA, May 22 (Marketwire)
--
World Energy Solutions, Inc. (NASDAQ: XWES), a fast-growing energy
management services firm, today announced it has won a new three year
energy management contract with Spartech Corporation (NYSE: SEH), a
leading producer of plastic sheet, compounds and packaging solutions. The
contract encompasses a broad swath of sustainability and transactional
services intended to help Spartech lower its energy commodity costs,
reduce energy consumption, and maximize available grid and utility
incentives, such as demand response and efficiency rebates.
In the first three months of the engagement, World Energy has leveraged
its deep energy-market expertise and extensive supplier network to
successfully procure electricity and renewable energy for Spartech
facilities in Maryland, New York, Ohio and Texas. These online
procurements, executed after careful analysis of the Spartech portfolio
and in accordance with an Opportunity Assessment developed by World
Energy on the Company's behalf, are expected to deliver over $1 million
in savings over Spartech's prior contracts.
"World Energy's approach to energy management represents a big
improvement for us, and the results are speaking for themselves," said
Victoria Holt, President & CEO of Spartech Corporation. "Not only has
World Energy delivered a plan for seven-figure savings to our
organization -- and begun executing upon it in short order -- but it has
done so in some markets where we had been told limited opportunities
existed. We are benefitting from World Energy's process and market
expertise, their ability to create liquidity and transact in multiple
geographies, and the transparent manner in which they operate.
"Spartech is committed to its Vision of becoming the leading supplier of
sustainable plastic solutions by minimizing our impact upon the
environment by reducing material consumption, adopting cleaner processes
and pursuing more efficient use of energy. World Energy serves as a good
partner in this important endeavor, helping us move closer to realizing
this Vision."
Added Richard Domaleski, CEO of World Energy Solutions: "By keeping our
focus on delivering value to our customers, we have established an
unmatched track record that resonates from the C-suite of the Fortune 100
to the owners and operators of small and mid-sized businesses. There is
so much more that companies can be getting from energy management, but
they need to be working with the right provider, one who has their best
interests in mind and the skill to get the most from the market on their
behalf. We appreciate the opportunity to collaborate with Spartech to
meet their energy management and sustainability goals, while driving down
their total cost of energy."
Throughout 2012, World Energy will be rolling out bill-payment services
for Spartech, conducting efficiency work, and executing additional
electricity and natural gas procurements across the country. For more
information on how World Energy helps customers lower their total cost of
energy, please see the following video:
http://www.worldenergy.com/videos-demos/making-energy-easy-again/
About Spartech Corporation
Spartech Corporation is a leading producer of
plastic products, including polymeric compounds, concentrates, custom
extruded sheet and rollstock products and packaging solutions for a wide
spectrum of customers. The Company's three business segments, which
operate 33 facilities in the United States, Mexico, Canada and France,
annually process approximately 1 billion pounds of plastic resins,
specialty plastic alloys, and color and specialty compounds. Additional
information can be found at www.spartech.com.
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 $30 billion in energy, demand response and
environmental commodities on behalf of its customers, creating more than
$1 billion in value for them. World Energy is also a leader in the global
carbon market, where its World Energy Exchange(R) supports the
ground-breaking Regional Greenhouse Gas Initiative's (RGGI) cap and trade
program for CO2 emissions. For more information, please visit
www.worldenergy.com.
This press release contains forward-looking statements that are subject
to risks and uncertainties that could cause actual results to differ from
those indicated in the forward-looking statements. Such risks and
uncertainties include, but are not limited to the following: our revenue
and backlog are dependent on actual future energy purchases pursuant to
completed procurements; the demand for our services is affected by
changes in regulated prices or cyclicality or volatility in competitive
market prices for energy; and there are factors outside our control that
affect transaction volume in the electricity market. Additional risk
factors are identified in our Annual Report on Form 10-K and subsequent
reports filed with the Securities and Exchange Commission.
For additional information, contact:
Dan Mees
World Energy Solutions, Inc.
(508) 459-8156
dmees@worldenergy.com
Erika Moran
The Investor Relations Group
(212) 825-3210
emoran@investorrelationsgroup.com
Copyright 2012, Marketwire, All rights reserved.
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