World Energy Solutions, Inc. (XWES) Wins Three Year Spartech Contract

May 23, 2012 1:57 PM ETXWES
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Yesterday, World Energy Solutions announced that it has won a three year contract for energy management with plastics company Spartech. The contract will cover a range of services that will assist Spartech in areas such as lowering the company's energy consumption and commodity costs.

World Energy Solutions is focused on energy management services for businesses, institutions, and governments, and has transacted more than $30 billion in energy, demand response, and environmental commodities on behalf of its customers. In turn, this has created over a billion in value for their clients. World Energy also supports the Regional Greenhouse Gas Initiative's (OTCPK:RGGI) cap and trade program for CO2 emissions.

The first three months of the engagement has seen World Energy obtain electricity and renewable energy for Spartech facilities in Maryland, New York, Ohio, and Texas. This is expected to deliver more than $1 million in savings over Spartech's previous contracts. World Energy will be procuring more electricity and natural gas resources for Spartech over the remainder of 2012, and will be rolling out bill payment services for the company.

Victoria Holt, president & CEO of Spartech, said, "World Energy's approach to energy management represents a big improvement for us, and the results are speaking for themselves. 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."

Added Holt: "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."

Richard Domaleski, CEO of World Energy Solutions, said, "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."

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