Posted: Feb 24, 2009

Prenova Announces 10-20% Energy Savings For Retailers & Restaurants

ATLANTA, GA - February 24, 2009 - Today Prenova, the 10 year old energy services firm responsible for $2 billion in annual energy purchases, announces that last quarter, retailers, chain stores, and restaurants saved an average of 15% on energy spending thanks to Prenova’s platform. Burger King, Costco, Dollar Tree, and Eddie Bauer are among the national brands that rely on Prenova to help drive higher profitability by sourcing advantageous energy contracts and managing energy usage. The average savings range of 10-20% is based on Prenova operations data across retail and restaurant customer sectors for the quarter ending December 31, 2008.

“The immediate savings visible for retailers and restaurants with Prenova are outstanding,” says Michael Nark, CEO of Prenova. “This recent report underscores a fact we almost take for granted—that by relying on a centrally sourced, monitored and proactive system like Prenova, you can radically reduce your energy expense and take those savings to your bottom line.”

The timing of this announcement couldn’t be better for the consumer services sector, where profits have been hurt by reduced consumer spending. “This program has immediate payback,” says Ann Gurnee, director of property management at Dollar Tree. The company has been using Prenova in 3,000 retail locations since 2005.  “In 2008 we’ve seen a 10% reduction in utility costs on a per square foot basis versus our baseline—a significant impact given our margins on $1 items.”

The Prenova energy services platform can be up and running in as few as 20 business days. Retailers and chain stores can feel the impact of cost savings with the next month’s reduced energy bills. “What’s unique about this program is it works right now—without buying new equipment,” says Nark.