ATLANTA, GA – February 3, 2006 – Prenova® today announced it will provide its Price Risk Management solution to a global leader in aluminum recycling and producer of specification alloys. During the one-year agreement, Prenova will deliver this energy management solution for electric power to the international manufacturing firm’s 29 United States locations. Since energy expenditures are one of the largest cost components in its manufacturing process, this solution is valuable in significantly driving down costs per unit produced and assisting the manufacturing firm in remaining competitive.
Prenova’s Price Risk Management solution addresses the optimization of cost and risk in procuring electricity and gas for customers. This solution includes continuous review of market conditions to assess and determine both the potential near-term and future impact on customer financial outlooks driven by market changes. Prenova reviews the risk and profiles of the customer’s entire energy supply portfolio in terms of potential opportunity. Prenova then develops strategies and plans for managing price and risk, recommends specific actions, negotiates all contracts, executes the agreed actions, and ensures that changes are accurately implemented.
Aluminum Manufacturing Firm Overview
Over and above holding the leadership position in the aluminum recycling industry, the customer is also a leading manufacturer of value-added zinc products that include zinc oxide, zinc dust, and zinc metal. It has more than $2 billion in annual net sales, employs approximately 4,200 employees, and operates 42 production facilities in the United States, Brazil, Germany, Mexico, and Wales.
About Prenova
Founded in 1997 and headquartered in Marietta, GA, Prenova, Inc. delivers visibility, manageability and predictability (VMP®) over customers’ energy usage, price, energy-related asset performance and maintenance costs. Through its energy management solutions, the company works both sides of the energy bill to drive down energy expenditures and thus improve profitability.
Prenova’s unique delivery platform enables the company to leverage existing customer assets to produce immediate, enhanced investment returns through reductions in both direct (price, tariff, utility payments) and indirect (usage, assets, maintenance) energy costs, while simultaneously improving reliability of business operations. There are no set-up costs, nor upfront software or hardware required. The value Prenova creates for its customers is significant to their bottom line, and includes the following:
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reduction in energy usage by up to 30%
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avoidance of unplanned maintenance/repair costs by up to 40%
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extended equipment life by up to 30%
Prenova manages billions in annual energy expenditures across tens of thousands of customer locations nationwide. Some organizations that rely on Prenova include Costco, Crate & Barrel, Dollar Tree, Eddie Bauer, Famous Footwear, 24 Hour Fitness, U.S. Cellular, and Costco. For more information, please visit www.prenova.com. |