World Energy Exchange acquires energy procurement auction software

WORCESTER, Mass., Nov. 8, 2001 – World Energy Exchange, Inc, announces acquisition of eChoiceNet, transaction software developed by Excelergy specifically to conduct energy procurement auctions.

This software, top rated by industry experts, enables World Energy Exchange to provide its customers with the most efficient, sophisticated, reliable, and proven procurement capability available in the US market today.

“This acquisition is dynamic, accretive, and synergetic. It raises the level of our expertise and capability to deliver efficiencies and savings to our customers, and enhances our company’s strength and reach in the market place. While resulting benefits inure to our clients, it also accelerates the company’s potential revenue and profitability growth,” said Company President Richard Domaleski.

World Energy Exchange is the industry-, supplier neutral provider of competitive energy procurement and management services to commercial, industrial and government customers (C&I). Its lengthy roster of blue chip customers, that procure more than 20% of the C&I market’s estimated $340 billion annual energy purchases, include Ford, Target Stores, Sage Realty, Gen’l Services Administration (GSA – the procurement arm of the Federal Government), The United Nations, and the American Red Cross.

Founded in 1996, the company is unique in the industry with no ties to any utility or supplier, an independent position that ensures delivery of best pricing by bringing the force of truly competitive bidding to bear directly on each client’s energy demands. It executes services through proprietary technology and an integrated set of on-line tools, and customer-centric services.

World Energy Exchange, Inc has its headquarters at 1 Exchange Place, Worcester, Mass 01608, and representative offices in New York City and Dallas, Texas.

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