Prenova Achieves Breakthrough Success in 2010

Share Article

Prenova announces financial results for FY:2010, ended December 31st, 2010. Revenue and profitability both climbed year-over-year as the company added over one dozen marquee clients. The company now has more than 55,000 sites, more than 3 billion kWh of consumption, and over $2 billion in energy spend under management.

While many in the Cleantech industry struggled in 2010, Prenova continued to thrive. Our results were fueled by a combination of new account growth plus significant contract renewals and expansions from existing customers.

Prenova, Inc., an enterprise energy management company that helps leading organizations control energy costs and reduce energy consumption, announces results for its fiscal fourth quarter and year end, dated December 31st, 2010. Revenue and profitability both climbed year-over-year as the company continued to achieve impressive growth. Prenova added over one dozen marquee clients in 2010 and now has more than 55,000 sites, more than 3 billion kWh of consumption, and over $2 billion in energy spend under management. Revenue generated per customer location, a key financial metric, also improved, rising over 12%. The year was capped off by the acquisition of Cyrus Technologies, the first such transaction in the company’s history.

“While many in the Cleantech industry struggled in 2010, Prenova continued to thrive,” said Michael J. Nark, Prenova’s President and Chief Executive Officer. “Our results were fueled by a combination of new account growth plus significant contract renewals and expansions from existing customers. Both are a testament to the consistent value Prenova delivers. With energy prices set to rise, more and more organizations are looking for a partner to help them control energy spend. Prenova has the experience and expertise they need, which is why we continue to succeed despite challenging market conditions.”

Additional 2010 highlights include:

  •     Delivered over $140 million in energy spend savings to customers
  •     Audited over 1.2 million utility invoices
  •     Processed and managed over 1.7 million EMS/BMS alarms
  •     Recommissioned more than 300 systems
  •     Averaged at least one avoided service call per month per client location
  •     Reduced total portfolio consumption by over 5%

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 Enterprise Energy Management solutions is available at http://www.prenova.com.

# # #

Share article on social media or email:

View article via:

Pdf Print

Contact Author

D. Scott Beaver
Visit website