Prenova’s Impressive Growth Continues in Q2.2010

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Prenova, Inc., a leading energy services company, delivered its sixteenth straight quarter of growth, with second-quarter 2010 results that included a 20% increase in sales versus the prior year and a 20% increase in recurring revenue compared to the previous quarter.

Companies turn to Prenova because we’re the one energy management partner that can give them a cohesive energy strategy . . .

Prenova, Inc., a privately held energy services provider managing over $2 billion in energy spend for dozens of national brands, today announced results for its fiscal second quarter, ended June 30th, 2010. The company increased recurring revenue by over 20%, marking the sixteenth straight quarter of recurring revenue growth. Total 2010 revenue to date was also up 20% versus the same period in 2009. These impressive results were achieved through a combination of contract renewals with existing customers and the addition of several new customers.

Additional Q2.2010 highlights include:

  •     320,000 utility bills processed
  •     56,000 energy-related work orders processed
  •     3,600 service calls avoided
  •     $21,400,000 in customer savings delivered (over $50,000,000 YTD)
  •     7% increase in revenue generated per site over previous quarter
  •     25 billion kWh annual energy consumption under management

“More and more organizations are recognizing the importance of controlling energy spend,” said Michael J. Nark, Prenova’s President and Chief Executive Officer. “The slow economic recovery is keeping energy prices down for the time being, but most people realize this will change. Rather than simply waiting for prices to go back up, many organizations are looking for ways to insulate themselves. They not only want to take advantage of lower rates, but also want to more effectively manage and reduce consumption. These companies turn to Prenova because we’re the one energy management partner that can give them a cohesive energy strategy that accomplishes both of these goals.”

About Prenova
Prenova helps companies control energy spend by reducing utility costs and improving energy efficiency. We work hand-in-hand with our customers to develop an energy strategy that fits their unique business needs. Then we help them implement this strategy consistently across the organization by providing services that span the entire energy lifecycle. From sourcing energy to controlling energy consumption, Prenova’s solutions can reduce energy spend by 10-20%. That’s why companies like Burger King, Costco, Dollar Tree, Foot Locker, and Home Depot turn to Prenova.

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