Press Release: Dome-Tech and World Energy Conduct Auction valued at $65 million - Dome-Tech uses world energy exchange to procure 700 million kwh of electricity supply for twenty-one government Agencies
July 25, 2007 - World Energy Solutions, Inc. (TSX: XWE), the operator of a leading online exchange for energy and energy-related products, today announced that the Dome-Tech Group, a World Energy channel partner, has recently completed online reverse energy auctions for three large-scale buying groups, representing 21 county and municipal government agencies in New Jersey. These groups include the South Jersey Power Co-Operative, the New Jersey Public Power Association and the New Jersey County College Electric Consortium. Dome-Tech assisted these entities in procuring over 700 million kWh of electricity valued at more than $65 million using the World Energy Exchange.
Dome-Tech Group, based in Edison, NJ, provides a wide range of energy engineering and professional consulting services to energy-intensive companies and institutions. As a World Energy Channel Partner, the Dome-Tech Group utilizes the Exchange to assist its customers in securing low-cost energy supplies that also meet their greenhouse gas emission reduction strategies. Ed Liberty, vice president of the Dome-Tech Group, said, "The use of the World Energy Exchange brings added competition from a large pool of suppliers and allows for suppliers to bid against each other in a dynamic online environment. For our customers, the Exchange allows us to achieve a lower price for energy supply than we could secure using traditional paper-based processes."
Dome-Tech first used the World Energy Exchange in April 2006 to procure more than 30 million kWh of electric supply for a major insurance carrier's one-million-square-foot office and data center space. Since that time, Dome-Tech has used the online auction platform to procure more than 1,178 million kWh of electricity for its customers and was also the first channel partner to use the Exchange to help a client monetize solar renewable energy credits (RECS) in New Jersey.
"Dome-Tech's approach to energy management is holistic and includes both the supply and demand sides," said Liberty. "The powerful combination of our energy procurement expertise and the World Energy Exchange allows us to offer our customers cutting-edge solutions to their energy procurement needs."
Phil Adams, World energy COO, said, "Dome-Tech is a great example of a successful channel partner relationship. They have leveraged the Exchange to add to their portfolio of service offerings with no additional overhead, thus enabling them to further penetrate and add value to their existing customer relationships. The World Energy Exchange and the team that supports it provide the tools and technology that give Dome-Tech instant credibility in the energy procurement marketplace. Additionally, the recurring revenue stream generated from energy procurement can provide leverage to the traditional time and materials business model, smoothing out cash flow and creating secure long-term contractual commitments."
World Energy's Channel Partner Program is intended to support all players in the market interested in tapping into the World Energy Exchange and World Green Exchange e-procurement solutions. Depending upon the relationship structure, program partners can elect to private label these solutions, in which case World Energy and its staff of market directors and market analysts provide back office support for execution of procurements under the branding of the partner. Partners also have access to an entire suite of tools for supplier management, receivables tracking and commission reporting.
About the Dome-Tech Group
Founded in 1989, the Dome-Tech Group is a leading provider of energy efficiency and clean energy project development and consulting. With offices in both New Jersey and New York, the company was named New Jersey's First Clean Energy Market Innovator by the New Jersey Board of Public Utilities and the Clean Energy Office. The company's five Centers of Excellence specialize in optimizing building systems and implementing energy efficient and renewable energy. Dome-Tech services a wide range of clients in the pharmaceutical, K-12, institutional, higher education, healthcare and commercial markets. For more information, visit www.dome-tech.com.
About World Energy Solutions
World Energy operates leading online exchanges for energy and energy-related products. Our proven approach provides market intelligence, promotes liquidity and creates price transparency for all market participants, enabling our customers to transact with confidence and seek the best possible price. To date, the company has brokered over 32 billion kWh of electricity, 500 million kWh of green power and Renewable Energy Certificates (RECs) and one trillion cubic feet of natural gas. For more information, please visit www.worldenergy.com.
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