Prenova's Growth Continues in Q3.2010

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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 third quarter, ended September 30th, 2010. Revenue was up versus the prior quarter and year-over-year. Prenova also increased revenue per client location, a key measurement of the company’s success.

With the economy beginning to rebound, and energy prices likely to rise, Prenova is well positioned to continue gaining market share by helping customers control energy spend.

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 third quarter, ended September 30th, 2010. Revenue was up versus the prior quarter as the company posted a 12% year-over-year increase. More importantly, revenue per customer location, a key measure of the company’s success, also rose, climbing seven percent. These impressive results stem from a combination of contract renewals and expansions by existing customers, and the addition of a significant number of new customers in 2010. As testament to Prenova’s continued growth, the company was recognized by Inc. magazine in August as one of the Fastest Growing Companies in America.

Additional Prenova highlights include:

  •     45% increase in customer revenue versus the prior quarter
  •     $35 million in customer savings delivered in Q3
  •     $135 million in projected savings for 2010
  •     6% reduction in energy consumption across all customer locations
  •     190+ Energy Management Systems recommissioned during the quarter

“Many companies have struggled in recent years due to the economy,” said Michael J. Nark, Prenova’s President and Chief Executive Officer, “but Prenova has delivered consistent growth despite the downturn. This success points to the fact that Energy Management is a top concern for many businesses. With the economy beginning to rebound, and energy prices likely to rise, Prenova is well positioned to continue gaining market share by helping customers control energy spend.”

Prenova helps customers understand how their energy usage compares with industry averages and identifies their most efficient and inefficient facilities. Based on this analysis, the company develops an integrated strategy to help the customer control energy spend. This strategy is designed both to address the high cost of energy supply and to reduce consumption. With the energy strategy in place, Prenova helps the customer implement it consistently across their organization.

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 The Home Depot turn to Prenova.

Additional information about Prenova’s integrated Energy Management Solutions is available at http://www.prenova.com.

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SCOTT BEAVER
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