New Relationship Provides Benefits of World Energy’s Auction Platform to Navigant Clients
Chicago, IL and Worcester, MA – March 18, 2014 – Today, Navigant (NYSE: NCI), a specialized, global expert services firm, and World Energy Solutions, Inc. (NASDAQ: XWES), a leader in energy management services, announced a new agreement that will make supply-side services, including energy procurement, available to Navigant clients.
Under terms of the agreement, Navigant’s Energy practice will offer energy procurement services, backed by World Energy’s industry-leading auction platform, the World Energy Exchange®, to clients across the firm in an effort to offer potential energy-cost savings.
“Identifying cost-reduction opportunities and implementing proven cost-saving solutions for our clients is central to what we do at Navigant, and core to our Energy service offerings,” said Dan Bradley, a Director with Navigant’s Energy Practice. “We believe World Energy’s technology-based approach to energy procurement, where online auctions are executed in an effort to increase competition and drive down prices, will provide a compelling new way to help our clients save money on energy, as well as increase transparency and flexibility in alignment with our clients’ individual strategies.”
Tony Barnhart, Senior Vice President of Sales at World Energy Solutions, added, “Channel partners such as Navigant play a vital role in World Energy’s ability to reach clients and provide the cost savings that ultimately benefit their bottom line. Navigant is an ideal partner for us. We are proud that our energy procurement services are being embraced by their teams as part of their mission to provide solutions that make a positive difference for their clients.”
Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (NASDAQ: XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $40 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $2 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. For more information, please visit www.worldenergy.com.
This press release contains forward-looking statements. The words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “may,” “plans,” “projects,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company has based these forward-looking statements on its current expectations and projections about future events, including without limitation, its expectations of backlog and energy prices. Although the Company believes that the expectations underlying any of its forward-looking statements are reasonable, these expectations may prove to be incorrect and all of these statements are subject to risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary materially and adversely from those anticipated, estimated or expected. Such risks and uncertainties include, but are not limited to the following: the Company’s revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for the Company’s services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; the potential impact on the Company’s historical and prospective financial results of a change in accounting policy may negatively impact its stock price; and other factors outside the Company’s control that affect transaction volume in the electricity market. Additional risk factors are identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 and subsequent reports filed with the Securities and Exchange Commission.The forward-looking statements made in this press release are made as at the date hereof. The Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, other than as required by securities laws.