Briefly

World Energy Solutions Purchases Northeast Energy Solutions

World Energy Solutions, Inc. has purchased Northeast Energy Solutions, LLC, a privately held energy efficiency company, for approximately $4.75 million. The purchase price consists of $1 million in cash, $3 million paid in the form of a promissory note, 83,209 shares of common stock equal to $250,000, plus up to an additional $500,000 earn-out. The acquisition provides World Energy an immediate foothold in the New England energy efficiency market, and the ability to execute comprehensive energy efficiency services, including lighting, mechanical and HVAC retrofits and energy management systems for small and mid-sized C&I customers. "The energy efficiency market holds great potential for World Energy," said Richard Domaleski, CEO of World Energy Solutions. "Not only is it a large and growing market, but more and more customers are asking for our help with efficiency as we take on a wider swath of their energy management need," Domaleski said. "There is a big opportunity for a trusted brand like World Energy to gain share in the energy efficiency market for small and medium-sized businesses, a segment currently served by numerous, small niche players. Based on our success in this market, we are excited about what we can accomplish as part of World Energy," said Robert Boissonneault, Founding Partner of Northeast Energy Solutions.

Advantage IQ Merges Services, Rebrands as Ecova

Utility expense and procurement consultant Advantage IQ and its demand-side management subsidiary, Ecos, have rebranded all of their services under a new brand, Ecova.

Ontario Energy Board Adopts Final Gas Utility Customer Service Policies

The Ontario Energy Board adopted final regulations regarding natural gas distributors' customer service policies, which maintain the less prescriptive approach contained in the latest proposal, and do not interfere with existing open bill access programs or partial payment assignment orders at various distribution utilities (see discussion in 7/7 article)