PowerSecure Acquired $10 Million Award to Develop Smart Grid Power System and LED Lighting

PowerSecure International, Inc. has received $10 million award to develop its Interactive Distributed Generation® (IDG®) smart grid power systems, and LED lighting products.

Among these awards, the new IDG System has acquired total $7 million, and include installations for a broad base of customers, including hospitals, municipal water systems, educational facilities, and retailers.

The left $3 million for new LED lighting, and consist primarily of an order from a major U.S. retailer to begin retrofitting refrigerated cases with EfficientLights® energy saving fixtures. It is the Company’s first order from this retailer.

Of the $10 million of new business, $8 million relates to turnkey product sales of IDG Systems and LED lighting products. The Company expects this $8 million of turnkey revenue will be recognized primarily during the first three quarters of 2011.

And the remaining $2 million relates to recurring revenue contracts for IDG systems.

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