Large Transaction Highlights Company's Growing Global Reach and Traction
in the Primary Carbon Market
WORCESTER, MA, Oct. 27 /PRNewswire-FirstCall/ - World Energy Solutions, Inc.
(NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green
commodities, today announced it has successfully brokered a purchase agreement
for over 1.4 million certified emissions reductions (CERs) on the World Green
Exchange(R). The deal, significant in both volume and revenue, was conducted
on behalf of B-road International Investment, a Chinese project developer. The
buyer, COzero, is an Australian marketer of green power and carbon offsets.
World Energy expects to recognize revenue from the transaction annually over a
ten year period, beginning in 2010, as credits are generated, verified,
registered and delivered. The transaction centers on CERs from three
early-stage projects across China, including bio-gas and fuel switching. Terms
of the deal remain confidential but involve a tiered investment by the buyer
for both pre- and post-2012 CERs.
"We initially tried to bring these projects to market on our own, but the
World Green Exchange offered us a much more efficient and transparent process
to attract high quality investors to our projects," said Helena Deng, North
American Representative for B-road International, an international company
dedicated to developing Clean Development Mechanism (CDM) projects in China.
Company CEO, Kuihuan Deng, added: "We are very impressed with World Energy's
ability to connect primary carbon projects with quality buyers in the Kyoto
community and are glad to find in COzero an investor who understands our
project needs and has experience working with Chinese developers."
"From a buyer's perspective, the World Green Exchange offered exactly what we
needed: access to high-quality project credits backed by detailed information
to help us determine this was the right investment for us," said Nicholas
Armstrong, Director of B2B at COzero. "In short, World Energy streamlined the
buying process, and we are excited to be participating in this opportunity
with B-road International."
The World Green Exchange(R) is an open, information-rich marketplace that
enables buyers and sellers of carbon commodities to transact with confidence.
Working with leading standards, registries, consultants, project developers
and banks, the World Green Exchange streamlines the procurement process while
delivering transparency, quality, choice and value. Over 100 million green
commodities, spanning CERs, VERs, RECs, Alberta offsets and RGGI allowances,
have been transacted on the World Green Exchange, making it one of the largest
primary carbon marketplaces in the world.
"Buyers and suppliers in the global carbon market share common needs, the most
critical of which is information - about projects, about contracting, and,
most of all, about each other," said Kenneth Ivanic, Vice President,
Environmental Markets, at World Energy. "This transaction highlights the
growing global appeal of the World Green Exchange and how it brings together
buyers and suppliers, helping them transact more efficiently."
About World Energy Solutions, Inc.
World Energy (NASDAQ: XWES; TSX: XWE) operates online exchanges for energy and
green commodities. For buyers and sellers of electricity, natural gas,
capacity, and green- energy assets who are impacted by today's volatile
markets, World Energy's proven approach has transformed the normally complex
procurement process into a powerful, streamlined vehicle for cost savings. In
addition to enabling customers to seek competitive pricing on traditional
energy commodities, World Energy is taking a leadership position in the
emerging environmental-commodities markets. Its award-winning World Green
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: our revenue is 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; we depend on a small
number of key energy consumers, suppliers and channel partners; there are
factors outside our control that affect transaction volume in the electricity
market; and there are other factors identified in our Annual Report on Form
10-K and subsequent reports filed with the Securities and Exchange Commission.
SOURCE World Energy Solutions, Inc.
Investor Relations, Phil Adams, World Energy Solutions, Inc., (508) 459-8100,
padams@worldenergy.com or Craig Armitage, The Equicom Group, (416) 815-0700
x278, carmitage@equicomgroup.com; Media Relations, Dan Mees, World Energy
Solutions, Inc., (508) 459-8156, dmees@worldenergy.com
