Toronto, ON and Worcester, MA – April 14, 2009 – Canadian Standards Association (CSA), a leading developer of standards and training services, and World Energy Solutions, Inc. (TSX: XWE), an operator of online exchanges for energy and environmental commodities, today announced a new collaboration enabling World Energy to offer its exchange services to owners of verified emissions reductions and removals (VERRs) registered on CSA’s GHG CleanProjects™ Registry.
“CSA’s collaboration with World Energy will help advance climate change solutions and provide value-added services to CSA clients of the GHG CleanProjectsTM Registry,” says Suzanne Kiraly, President, Standards, Canadian Standards Association. “The collaboration agreement will allow World Energy to market its services directly to CSA clients with VERRs listed on CSA GHG CleanProjectsTM, and will provide CSA clients the option to work directly with World Energy and use the services of the World Green Exchange® to sell their VERRs.”
The World Green Exchange is an open, information-rich marketplace that enables buyers and sellers of carbon commodities to transact with confidence. Working with leading standards bodies, registries, consultants and project developers, the World Green Exchange streamlines the procurement process while delivering transparency, quality, choice and value. World Energy and CSA will work in cooperation to contact VERR owners and project proponents to raise awareness of the World Green Exchange, where they will be able to offer VERRs for sale to interested parties.
“Our teaming with CSA is a win for World Green Exchange customers looking to invest in projects verified to recognized standards,” says Phil Adams, President and COO of World Energy. “As we continue to bring together the carbon market’s top players on the World Green Exchange, we deliver buyers and suppliers the trusted, central marketplace they have wanted, and which the market has needed to develop.”
The World Green Exchange provides a valuable price discovery mechanism that enables buyers and sellers to see what the market will command in real time, thus allowing the market forces of competition to deliver an efficient pricing result. The exchange builds on World Energy’s extensive experience in the power markets, where its World Energy Exchange® helps customers procure electricity and natural gas.
The GHG CleanProjects™ Registry provides a portal to report and showcase greenhouse gas (GHG) emission reductions or removals. It is accessible online worldwide with a focused mandate relating to the listing and delisting of GHG projects and resulting VERRs. Through its serialization engine, the GHG CleanProjects™ Registry tags each ton of verified emission reductions and removals with a unique serial number. The process is based on the ISO 14064-2 Part 2 Standard for greenhouse gas inventory and reporting which specifies principles, requirements and provides guidance at the project level for quantifying and reporting activities intended to cause GHG emission reductions or removal enhancements.
Clients of CSA’s GHG CleanProjects™ Registry will not be required in any way to endorse, accept or engage the services of World Energy. CSA (1) will not be involved in any transactions between World Energy and a CSA client, including facilitating trades of VERRs; (2) will not receive any information on prices or volume or any other trading-related details that are not otherwise available to the public; and (3) will not earn any revenue as a result of a successful or unsuccessful transaction through the platform provided by World Energy.
About CSA
Canadian Standards Association (CSA) is a membership association serving industry, government, consumers and other interested parties in Canada and the global marketplace. As a leading solutions-based standards organization providing standards and codes development, application products, training and advisory services, CSA aims to enhance public safety, improve quality of life, preserve the environment and facilitate trade. The Canadian Standards Association is a division of CSA Group, which also consists of CSA International, which provides testing and certification services for electrical, mechanical, plumbing, gas and a variety of other products; and OnSpeX, a provider of consumer product evaluation, inspection and advisory services for retailers and manufacturers. For more information visit www.csa.ca.
About World Energy Solutions, Inc.
World Energy (TSX: XWE) operates online exchanges for energy and green commodities. For buyers and sellers of electricity, natural gas, capacity, and green- energy assets who are impacted by today’s volatile markets, World Energy’s proven approach has transformed the normally complex procurement process into a powerful, streamlined vehicle for cost savings. In addition to enabling customers to seek competitive pricing on traditional energy commodities, World Energy is taking a leadership position in the emerging environmental-commodities markets. Its award-winning World Green Exchange® supports the ground-breaking Regional Greenhouse Gas Initiative’s (RGGI) cap and trade program for CO2 emissions. For more information visit www.worldenergy.com.
This news 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: our revenue is 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; we depend on a small number of key energy consumers, suppliers and channel partners; there are factors outside our control that affect transaction volume in the electricity market; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
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Contact:
Anthony Toderian
Senior Media Relations Officer
CSA Group
T: 416-747-2620
E: anthony.toderian@csagroup.org
Dan Mees
Vice President, Corporate Communications
World Energy Solutions, Inc.
T: 508-459-8156
E: dmees@worldenergy.com