ROCKVILLE, MD and WORCESTER, MA, March 9, 2010 /PRNewswire via COMTEX/ -- Online Auction Delivers $1.25 Million in Energy Savings, 10 Percent Green for Multiple Facilities
World Solutions, Inc. (NASDAQ: XWES; TSX: XWE), an operator of online exchanges for energy and green commodities, today announced it has helped Adventist HealthCare successfully reduce its future carbon footprint and save on electrical costs for seven facilities in Maryland and New Jersey through an auction over the World Energy Exchange(R).
The January auction will net Adventist HealthCare, a non-profit network of health-care providers headquartered in Rockville, Md., more than $1.25 million in savings over its current contracts by enabling the organization to lock in attractive rates through mid-2013. More importantly, by purchasing 10 percent green energy, the health-care provider will reduce its carbon dioxide emissions by 4,100 metric tons each year. This reduction is the equivalent of each of the following:
- Removing 784 passenger vehicles from the road each year
- Reducing demand for 9,541 barrels of oil each year
- Reducing the need for 21.4 railcars worth of coal each year
- Reducing the equivalent demand of "brown energy" to power 533 homes
each year
(Source: EPA Greenhouse Gas Equivalencies Calculator)
"With the help of World Energy, Adventist HealthCare has become a savvier, greener energy buyer," said William G. "Bill" Robertson, President and CEO of Adventist HealthCare. "The money we have saved with World Energy will help us invest in long-term energy efficiency initiatives while advancing our overall mission of providing quality care to our patients."
Working closely with Adventist HealthCare and its consultant, The Walker Group, World Energy helped the company identify better ways to manage its energy portfolio, from understanding hidden costs in its current contracts to the advantages of proactively shopping the market to meet post-2010 demand.
In addition, World Energy pulled together Adventist HealthCare's multiple electricity contracts and terms into a single, structured procurement event that attracted the regions' top suppliers, spurred aggressive bidding and yielded transparent pricing. As a result, Adventist HealthCare secured favorable contracts from 2011 into 2013 that will save the company money while significantly greening its portfolio.
"Our work with Adventist HealthCare shines a spotlight on the cumulative power of our people, process and technology in delivering value to the customer," said Phil Adams, President of World Energy. "While we are known in the industry for running best-in-class auctions, engagements like Adventist HealthCare are a cogent reminder of the insights and hard work behind the scenes that ultimately determine success. Energy is a strategic asset, and we are in the business of helping our customers maximize its value."
For more information on World Energy's work with hospitals and health systems, please see: http://www.worldenergy.com/about/newsevents/press/default.cfm?pressID=131. For more on Adventist HealthCare, please see: http://www.adventisthealthcare.com.
About Adventist HealthCare
Adventist Healthcare, an integrated health-care delivery organization based in Rockville, Maryland, is one of the largest employers in the state of Maryland. The mission of Adventist HealthCare is to demonstrate God's care by improving the health of people and communities through a ministry of physical, mental and spiritual healing. Adventist HealthCare includes Shady Grove Adventist Hospital, Washington Adventist Hospital, Adventist Behavioral Health, Adventist Rehabilitation Hospital of Maryland, Adventist Senior Living Services, Hackettstown Regional Medical Center, Adventist Home Care Services and the Reginald S. Lourie Center for Infants and Young Children.
About The Walker Group
The Walker Group provides real estate solutions nationwide to associations, foundations, companies, legal and accounting firms, families and individuals in need of real estate expertise. We partner with our clients to ensure that they make decisions that are in their strategic and economic best interests. The Walker Group will function as a member of your executive team, providing your organization with expert guidance and management of all facets of your real estate requirements. Our goal is to understand your objectives as you see them. Our commitment is to be a trusted advisor in the implementation of both short and long-range strategies to maximize your business and financial expectations.
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, demand response, and green-energy assets, 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; 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.