July 16, 2008—PowerSecure International, Inc. announced that it has been awarded approximately $10 million of new business, driven by strong marketplace demand for its energy solutions, and continuing a series of new business announced over the last seven weeks totaling $50 million.
Virtually all this new business consists of orders for the company’s distributed generation products, which will be deployed to solve utilities’ needs for dependable, cost effective sources of power resulting from the growing gap between electricity supply and increasing demand. PowerSecure’s solutions also deliver the dual benefit of providing a dependable standby power supply for utilities’ end customers.
These new awards include a breakthrough contract to provide distributed generation to support “base load” electricity needs of a major customer in the natural gas production business for one of its Midwest locations, says the company. PowerSecure’s distributed generation capabilities allow this customer to have a dedicated power source in a location not currently served by the existing power grid.
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