LEXINGTON, Mass., January 15, 2003 — Excelergy Corp., a provider of high performance software platforms that increase revenues, improve cash flows and reduce costs for companies in the energy/utility industry and other restructuring value chains, has acquired Dallas-based Forwardmarket LLC, a provider of real-time price risk analysis and hedge trading solutions to the retail energy industry.
With the acquisition, Excelergy will begin marketing and selling its new Excelergy ForwardMarket software product, which is designed for energy merchants as a private-branded, value-added offering that provides their large commercial and industrial energy customers with real-time market analysis required to manage price risk in volatile energy markets.
Excelergy ForwardMarket converts a user’s desktop screen saver into a fully functional market research tool complete with futures quotes, charting, historical pricing, weather, portfolio tracking tools, and analyst commentary on key energy commodities.
“Excelergy software products have always been extraordinarily valuable at managing the collaborative exchange of mission-critical information and transactions. With Excelergy ForwardMarket, we’re now offering a powerful new marketing tool to our clients, who can use it to offer value-added content to their customers,” said Bill Mahoney, president and chief executive officer of Excelergy Corporation. “This acquisition is a perfect complement to Excelergy’s software technology strengths. Not only does it extend the measurable ROI we deliver to our clients, it increases the value that our clients can in turn deliver to their own customers.”
As a result of the acquisition, Excelergy will soon offer a second new software product called Excelergy HedgeDirect, a patent pending software platform designed to electronically manage the real-time offering and execution of structured hedging products (i.e. fixed price, caps, collars, and more) between energy merchants and their retail customers.
Excelergy HedgeDirect allows merchants to significantly reduce market risks and improve profitability associated with retail hedge offerings by 1) automating manual transaction processes, 2) establishing centralized controls, and 3) enhancing financial product sales. For retail end-customers, Excelergy HedgeDirect offers unparalleled access and control over their energy portfolios as well as faster and better execution of hedge orders. Excelergy HedgeDirect is scheduled to be available during the second quarter of this year.
“In the past, energy buyers have been forced to make tough decisions about hedging strategies with little or no access to market intelligence,” said Kevin Swenke, president of Forwardmarket LLC.
“In today’s volatile energy markets, the timing of a purchase or the decision between a fixed or floating price has a substantial impact on overall cost, revenue and margin. With Excelergy ForwardMarket, energy buyers now have access to the real-time market data and tools that were once only available to professional traders. With Excelergy HedgeDirect, buyers for the first time to be able to electronically buy and sell hedging products through their merchant suppliers. Energy merchants now have unprecedented resources at hand to optimize revenue and profit opportunities while minimizing risks tied to fluctuating market conditions.”
About Excelergy Corporation
Excelergy is a provider of high performance software platforms that increase revenues, improve cash flows and reduce costs in the energy/utility industry and other restructuring value chains.
Excelergy’s highly flexible, scalable software systems automate forecasting, trading, scheduling, billing, settlement and customer/partner acquisition and care. They are based on an open, object-oriented, Web-based, native XML technology architecture.
Excelergy has its North American headquarters in Lexington, Massachusetts, its European headquarters in London, England and its Asia-Pacific headquarters in Melbourne, Australia. More information is available at www.excelergy.com.