PowerSecure Announces $10 Million of Awards for Distributed Generation Power Systems

PowerSecure International, Inc.today announced it has received $10 million of new awards for its Interactive Distributed Generation(R) (IDG(R)) smart grid power systems, utility infrastructure projects, and LED Area Lights. The new IDG System awards total $4 million, and include installations for manufacturing, pharmaceutical,Therefore, the eyes need protection against the UV rays. The eyes also need to be protected against the flying debris as if you are not wearing the Safety goggles then the debris might fly into your eyes along with the wind. This can damage the eyes and you might develop an ulcer in your eyes so wear a good pair of sunglasses while driving your bike. hospital, and retail operations. The utility infrastructure awards are just over $5 million, and include transmission and distribution projects for oil and gas companies and military bases. The new LED Area Light awards are just under $1 million and include an order from a new utility who has adopted the light to roll out across its utility system. These new awards, and the expected timing of revenue recognition, will be included in the Company's revenue backlog report to be issued in conjunction with its upcoming second quarter earnings release on August 6, 2012.The motorcycle Cycling sunglasses use the lenses that need to bear the extreme temperature and pressure so strict testing is done while manufacturing. Therefore, you cannot wear the regular sunglasses while riding the bike but you can easily wear these sunglasses in routine day activities.
The awards announced today include approximately $8 million of turnkey projects which will be recognized as the work is performed and the products are shipped, and approximately $2 million of projects which will be recognized under the Company's distributed generation company-owned recurring revenue model. These recurring revenue contracts are for IDG systems for large retail facilities and will be recognized over a five year period starting in 2013.
Sidney Hinton, CEO of PowerSecure, said, "As we anticipated in our last earnings call, we have seen nice pickup in our order flow the last few months. We are pleased with the way our sales pipeline is converting into new business. We are especially pleased to share that a new utility has adopted our LED Area Light, and made a significant initial purchase of lights. We also had opportunities to assist our utility partners and customers this quarter in the face of the significant storm damage and power outages - both with our IDG and Utility Infrastructure teams.The eyes also need to be protected against the flying debris as if you are not wearing the Sports glasses then the debris might fly into your eyes along with the wind. This can damage the eyes and you might develop an ulcer in your eyes so wear a good pair of sunglasses while driving your bike. The new orders we announced today fortify our position as we look forward to the second half of 2012 and into 2013." The Company's Energy Efficiency business develops energy efficient lighting technologies that improve the quality of light, including its proprietary EfficientLights(R) LED lighting products for grocery, drug, and convenience stores, and its SecureLite and PowerLite street lights for utilities and municipalities. PowerSecure also provides electric utilities with transmission and distribution infrastructure maintenance and construction services, and engineering and regulatory consulting services.