RESTON, Va. and WORCESTER, Mass., Nov. 12, 2013 (GLOBE NEWSWIRE) -- The U.S. General Services Administration Energy Division today announced it has received a 2013 Federal Energy and Water Management Award for its demand response auctions – a project administered by World Energy Solutions (Nasdaq:XWES) and Leidos (NYSE:LDOS).
In January 2012, the GSA Energy Division, World Energy and Leidos ran the first forward auctions for demand response services by a Federal agency. The contracts awarded as a result of these auctions are expected to generate revenues of at least $1.5 million for the GSA and Department of Veterans Affairs, which can be re-invested into further energy efficiency and facility improvement projects.
The Award specifically names GSA's Linda Collins and Daniel Morrison, World Energy's Luke McAuliffe, and Leidos' Chris McCall for their work on the project.
The U.S. Department of Energy sponsors the Federal Energy and Water Management Awards, which honor individuals, groups, and agencies for the outstanding use of energy- and water-efficiency technologies at Federal facilities. The awards were presented at a ceremony in Washington, DC held on November 6. To see all the 2013 winners, please visit: http://www1.eere.energy.gov/femp/services/awards_fewm.html.
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 http://www.worldenergy.com/">www.worldenergy.com.
About Leidos
Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health, and engineering. The Company's 23,000 employees support vital missions for our government and the commercial sector, develop innovative solutions to drive better outcomes, and defend our Nation's digital and physical infrastructure from 'new world' threats. Leidos is headquartered in Reston, Va. and had approximately $6 billion in revenues for fiscal year 2013, on a pro forma basis, following the spin-off of the company's technical, engineering and enterprise IT business on Sept. 27, 2013. For more information, visit www.Leidos.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.
