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Phil Adams, CEO of World Energy Solutions, Named Business Leader of the Year

World Energy Solutions, Inc. logo

WORCESTER, Mass., Feb. 19, 2013 (GLOBE NEWSWIRE) -- World Energy Solutions, Inc. (Nasdaq:XWES), a leading energy management services firm, today announced its Chief Executive Officer, Phil Adams, has been named a Business Leader of the Year by the Worcester Business Journal (see full story and video here: http://bit.ly/15ppUQk). The leadership of the publication selected Adams for his outstanding work guiding the Company to profitability and five straight quarters of record revenue.

The Worcester Business Journal's annual Business Leader of the Year award program recognizes Central Massachusetts' top business leaders and organizations across four categories: Large Business; Small Business/Entrepreneur; Non-Profit; and Corporate Citizen of the Year. Adams won for his achievements in the Small Business/Entrepreneur category.

"Each year, we invite members of the Central Massachusetts business community to nominate business leaders in each of the four categories, and we supplement that with our own scouting from our work covering business in the region," said Rick Saia, Editor, Worcester Business Journal. "Phil Adams and World Energy initially caught our attention in 2011 when the firm acquired three companies and posted its first year of profitability as a public company.

"Then 2012 unfolded with quarter after quarter of strong financial performance, successful customer engagements, another acquisition, Phil's promotion to CEO, and the establishment of the Company's new headquarters in City Square coupled with the hiring of its 100th employee. That's not just a Central Mass. success story, that's a great business story."

Added Phil Adams, CEO, World Energy Solutions: "I am honored to receive this award and proudly accept it on behalf of the great team at World Energy that has helped make it all possible. I'd also like to recognize and thank co-founder and former CEO Richard Domaleski for the strong foundation he created here and for his trust and confidence in me as a colleague and leader. We began our energy business in the basement of the old Worcester Police Station in Exchange Place more than ten years ago, and have since created a profitable, growing Company that saves customers money, provides meaningful work to employees, and enthusiastically gives back to the community."

The Business Leader of the Year award recipients will be honored at a ceremony, and participate in a roundtable conversation, hosted by the Worcester Business Journal at the Beechwood Hotel in Worcester, MA on March 26th from 4:30 – 7:30 p.m. More information about the event can be found in the Events section of www.WBJournal.com or at: http://bit.ly/WGsf4U.

About the Worcester Business Journal

The Worcester Business Journal is Central Massachusetts' definitive source for business news. Every two weeks, it delivers news and opinion in print for the Central Massachusetts business community. It also delivers news business leaders need through its website, WBJournal.com and email newsletter, The Daily Report. In addition, The Worcester Business Journal hosts several informational and networking events for business leaders throughout Central Massachusetts.

About World Energy Solutions, Inc.

World Energy Solutions, Inc. (Nasdaq:XWES) is an energy management services firm that brings together the passion, processes and technologies to take the complexity out of energy management and turn it into bottom-line impact for the businesses, institutions and governments we serve. To date, the Company has transacted more than $30 billion in energy, demand response and environmental commodities on behalf of its customers, creating more than $1 billion in value for them. World Energy is also a leader in the global carbon market, where its World Energy Exchange® supports the Regional Greenhouse Gas Initiative (RGGI), the first mandatory market-based regulatory program in the U.S. to reduce greenhouse gas emissions. For more information, please visit www.worldenergy.com.

The World Energy Solutions, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16555

This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to the following: our revenue and backlog are dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; and there are factors outside our control that affect transaction volume in the electricity market. Additional risk factors are identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.

CONTACT: Dan Mees World Energy Solutions, Inc. (508) 459-8156 dmees@worldenergy.com Susan Forman Dian Griesel, Inc. (212) 825-3210 sforman@dgicomm.com

Source:World Energy Solutions, Inc.