ST. LOUIS, MO and WORCESTER, MA--(Marketwire -05/22/12)- World Energy Solutions, Inc. (XWES), a fast-growing energy management services firm, today announced it has won a new three year energy management contract with Spartech Corporation (SEH), a leading producer of plastic sheet, compounds and packaging solutions. The contract encompasses a broad swath of sustainability and transactional services intended to help Spartech lower its energy commodity costs, reduce energy consumption, and maximize available grid and utility incentives, such as demand response and efficiency rebates.
In the first three months of the engagement, World Energy has leveraged its deep energy-market expertise and extensive supplier network to successfully procure electricity and renewable energy for Spartech facilities in Maryland, New York, Ohio and Texas. These online procurements, executed after careful analysis of the Spartech portfolio and in accordance with an Opportunity Assessment developed by World Energy on the Company's behalf, are expected to deliver over $1 million in savings over Spartech's prior contracts.
"World Energy's approach to energy management represents a big improvement for us, and the results are speaking for themselves," said Victoria Holt, President & CEO of Spartech Corporation. "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.
"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."
Added Richard Domaleski, CEO of World Energy Solutions: "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."
Throughout 2012, World Energy will be rolling out bill-payment services for Spartech, conducting efficiency work, and executing additional electricity and natural gas procurements across the country. For more information on how World Energy helps customers lower their total cost of energy, please see the following video:
About Spartech Corporation
Spartech Corporation is a leading producer of plastic products, including polymeric compounds, concentrates, custom extruded sheet and rollstock products and packaging solutions for a wide spectrum of customers. The Company's three business segments, which operate 33 facilities in the United States, Mexico, Canada and France, annually process approximately 1 billion pounds of plastic resins, specialty plastic alloys, and color and specialty compounds. Additional information can be found at www.spartech.com.
About World Energy Solutions, Inc.
World Energy Solutions, Inc. (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 $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® 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 the following: our revenue and backlog are 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; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.