Posted: Apr 29, 2009

Prenova Records Best Quarter in Company History

ATLANTA, GA - April 29, 2009 - Prenova, Inc., a privately held energy services provider that manages over $2 billion in energy spend for dozens of national brands, today announced record performance for first-quarter 2009. The company delivered quarter-over-quarter recurring revenue growth for the eleventh straight quarter, while also achieving the highest quarterly sales in its history. Aiding this success was the addition of several new clients during Q1, including Haverty Furniture Companies and DaVita Inc. Prenova’s rising sales and ongoing efficiency efforts combined for a 68% improvement in EBITDA over the same period in 2008.

“Conserving energy and controlling costs are on everyone’s minds these days,” said Michael Nark, Prenova’s President and Chief Executive Officer. “Prenova is squarely focused on helping companies achieve these two important objectives. As evidence of this, we’re not only earning new customers, but many of our existing customers also expanded their agreements with us during the first quarter by taking advantage of more of Prenova’s services. As a result, our backlog revenue is at an all time high.”

Prenova helps its customers control energy spend by reducing utility costs and improving energy efficiency. The company’s services target both energy supply – the rates and fees paid to utilities and third-party suppliers – and energy demand. Supply-side solutions include Energy Procurement and Utility Management services. On the demand side, Prenova provides Remote Monitoring of HVAC, lighting, refrigeration, and other critical building systems. The company’s Energy Consulting unit performs energy audits, installs energy management technologies, and helps companies take advantage of rebates offered by many utilities. In combination, these services can reduce energy costs by 10-20% for most customers.

First quarter results follow on the heels of an impressive 2008, during which time Prenova grew its customer base by over 25% and increased revenue by nearly 50%. Last year, the company managed over $2 billion in energy spend on behalf of its customers and reduced customers’ energy consumption by over 900 million kilowatt-hours. Recurring revenue grew by an impressive 60% in 2008.