WORCESTER, Mass. & LEXINGTON, Mass., Jan. 29, 2002 — Energy procurement and management services company World Energy Solutions Inc. today announced that more than $250 million worth of power and natural gas was bought and sold on its Internet-based exchange during 2001.
World Energy Solutions, which is now using Excelergy Corporation’s technology platform, managed the exchange of 2.5 billion kilowatt hours in electricity alone, making it the undisputed retail electric exchange in North America.
“What really sets us apart from other exchanges is our scalable infrastructure, world class distribution and independence from our suppliers. Excelergy’s technology gives us the proven flexibility and scalability to manage the energy demands of the world’s largest businesses and organizations,” said Richard Domaleski, president of World Energy Solutions. “Our recent addition of bill presentation, payment and auditing services further demonstrates our full commitment to providing a comprehensive suite of services to the retail energy marketplace. Based on the growth and momentum gained during the past twelve months, we’re very confident we have the right infrastructure in place to set even higher industry standards in 2002.”
World Energy Solutions, whose customers include Ford, Target Stores, the United Nations, the General Services Administration, and the American Red Cross, uses Excelergy’s product-based technology to enable its clients to procure billions of dollars of energy competitively, saving them millions of dollars monthly on their energy bills. World Energy Solutions signed an exclusive perpetual license agreement for the energy market for Excelergy’s eChoiceNet product last year.
“We’re pleased that World Energy Solutions has capitalized on our technology to become one of the top performing retail energy market operators,” said Bill Mahoney, Excelergy’s president and chief executive officer. “This validates how quickly and easily our products can be configured to deliver value throughout the energy value chain – whether it’s market operations, wholesale, retail, transmission or generation.”
About Excelergy® Corporation
Excelergy is a provider of software products to meet restructuring market needs worldwide. Excelergy delivers open co-action through three core product lines: Excelergy eXACT® for inter-company collaboration, the Excelergy Advanced Business Packageà¢â€ž- for intra-company collaboration, and Excelergy Energy Tradingà¢â€ž- for the straight-through processing of wholesale energy business processes.
These products are based on an open, object-based, Web-architected, native XML technology platform. Excelergy’s North American headquarters are located in Lexington, Massachusetts, with its European headquarters in Bristol, England and its Asia-Pacific operations based in Melbourne, Australia. More information is available at www.excelergy.com.
About World Energy Solutions Inc.
World Energy Solutions, formerly World Energy Exchange, a supplier-neutral provider of competitive energy procurement and management services to commercial, industrial and government customers.
Founded in 2000, the company has no ties to any utility or supplier, which ensures delivery of best pricing to clients through truly competitive bidding. World Energy Solutions headquarters are located at One Exchange Place, Worcester, Massachusetts, with representative offices in New York City and Dallas, Texas. More information is available at www.wexch.com.