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T&D World Magazine

PowerSecure Adds $25 Million In New Utility Infrastructure And Energy Efficiency Business

PowerSecure International, Inc., Wake Forest, NC, announced it has been awarded approximately $13 million of new utility infrastructure (UI) business and approximately $12 million of new energy efficiency (EE) business.

The $13 million in new UI business awards include more than $10 million of new transmission projects with new utility customers in the Midwest and Southwest, including one of the largest investor-owned utilities in the country, and additional distribution work for existing customers.

The $12 million in new EE business awards include approximately $10 million in new energy efficiency services awards and approximately $2 million in new LED lighting awards. The energy efficiency awards include new projects at several schools and federal facilities, and the first new project with a Fortune 100 retailer resulting from the company's recent acquisition of the electrical contracting business from Apex. The new LED award is to upgrade multiple locations of one of the leading restaurant chains in North America with PowerSecure's Solais lighting products.

The $25 million in new business is expected to be recognized fairly evenly from the fourth quarter of 2014 through 2015.

"The new awards in utility infrastructure reinforce our view that there continue to be strong market opportunities for us with both new and existing customers," said Sidney Hinton, chief executive officer of PowerSecure.

"We are also very pleased to quickly see new business resulting from our Apex acquisition, which expands our electrical energy services and product capabilities to retailers, alongside new federal and school projects with our ESCO customers," Hinton added.

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