PowerSecure International is a leading provider of energy and utility technologies to electric utilities and their industrial, commercial, and institutional customers. The company provides products and services in the areas of: energy efficiency, interactive distributed generation, and utility infrastructure.
The company announced today that it has received $15 million worth of new contracts for its Interactive Distributed Generation (IDG) smart grid power systems and utility infrastructure projects. The new IDG system awards total $10 million and include installations for hospitals and data centers along with pharmaceutical and industrial facilities. The utility infrastructure contracts total $5 million and include transmission system and substation projects for utilities and large industrial customers.
All of these contract awards are for turnkey sales of products and services. PowerSecure states that approximately 80 percent of the revenue is expected to be realized in the second half of 2012, adding to the revenue backlog for the company. The remaining 20 percent of the revenue from these contracts will be recognized during the first half of 2013.
The CEO of PowerSecure, Sidney Hinton, was very pleased with the recent contract awards particularly with the “continuing traction in the hospital, data center, and pharmaceutical markets.” He added that the “sales and marketing teams focused on these customer categories are making terrific progress.” The company continues to be bullish on the opportunities it has to serve these large and growing markets with its proprietary IDG solutions.
For further information about PowerSecure International and its IDG products and services, please visit the company's website at www.powersecure.com
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