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Ameresco, Inc. reports news about energy infrastructure solutions that help customers reduce energy use, modernize facilities, improve resiliency, and add distributed energy resources. Recurring updates include earnings releases, project awards, backlog trends, renewable energy assets, operations and maintenance activity, and energy efficiency work for government, education, healthcare, utility, data center, housing authority, and commercial customers.
Company announcements also cover solar installations, HVAC and LED upgrades, performance savings contracts, renewable fuels and biogas activities, sustainability reporting, and strategic capital actions tied to its energy asset portfolio. Ameresco operates across North America and Europe through segments that include North America Regions, U.S. Federal, Renewable Fuels, Europe, and other activities.
Ameresco (NYSE: AMRC) applauds the Biden Administration for its Climate Smart Buildings Initiative, designed to enhance public-private partnerships aimed at reducing greenhouse gas emissions and cutting energy costs. The initiative is set to create nearly 80,000 jobs and achieve up to 2.8 million metric tons of GHG reductions annually by 2030, leveraging $250 million from the Infrastructure Investment and Jobs Act. Ameresco plans to utilize its 22 years of experience in Energy Savings Performance Contracting to support these goals.
Ameresco, Inc. (AMRC) reported record Q2 2022 revenue of $577.4 million, up 111% year-over-year, driven by significant growth across all business lines. Net income surged 136% to $32.2 million, with GAAP EPS at $0.61 (up 135%) and Adjusted EBITDA increasing 75% to $60.3 million. The company announced a landmark 42 MW PV and battery storage asset in Hawaii, bolstering its energy portfolio. Ameresco reaffirms its 2022 guidance, anticipating year-over-year growth in revenue, Adjusted EBITDA, and Non-GAAP EPS of 52%, 34%, and 26%, respectively.
Ameresco, a leader in cleantech integration, has been recognized by Solar Power World as one of the 2022 Top Solar Contractors. The company achieved 59th overall among 411 solar firms, earning accolades as a top solar and storage installer, as well as a top commercial solar contractor across states including Massachusetts, New York, and California. CEO George Sakellaris emphasized the importance of solar solutions in the energy transition, and the company aims to enhance sustainability and resiliency in its projects.
Ameresco (NYSE:AMRC) has partnered with the City of Memphis and Memphis Light, Gas and Water to upgrade over 77,000 streetlights to LED technology, enhancing safety and reducing energy expenses. This initiative is projected to save over 37 million kWh annually and cut greenhouse gas emissions by 26,000 metric tons. The project will provide local employment opportunities throughout construction. Scheduled for completion by Fall 2023, the upgrade aims to improve lighting across Memphis neighborhoods, contributing to the city’s sustainability goals.
Ameresco (NYSE: AMRC) has completed a significant utility savings project with New Mexico Tech, projected to save the university over $540,000 annually. This 20-year partnership aims to enhance campus facility operations and sustainability through upgrades like 666.8 kW-DC solar systems, LED retrofits, and advanced control systems. Dr. Cleve McDaniel emphasized the project's alignment with the university's sustainability goals. This initiative not only improves energy efficiency but also supports long-term cash flow and reliability for the institution.
Ameresco, Inc. (NYSE:AMRC) will release its second quarter 2022 financial results on August 1, 2022, after market close. The press release will be available on the Company’s Investor Relations page. An earnings conference call is scheduled for 4:30 p.m. ET the same day, with a live webcast accessible via its website. Additionally, supplemental financial information will be provided via a Current Report on Form 8-K. Founded in 2000, Ameresco specializes in energy efficiency and renewable energy solutions across North America and Europe.
Ameresco (NYSE: AMRC) has completed the first phase of a $3.5 million energy conservation project with Baltimore City Public Schools. This initiative focused on upgrading lighting in 15 school buildings, improving energy efficiency through LED installations and occupancy sensors. The project is expected to yield a $500,000 rebate and annual savings of over $400,000 in electricity costs. Construction commenced in November 2021 and concluded in May 2022. A second phase of upgrades is in discussion, marking Ameresco's first K-12 project in Maryland.
Duke Energy has completed the largest floating solar facility in the Southeast at Fort Bragg, North Carolina. This 1.1-megawatt solar plant is part of a $36 million energy services contract aimed at enhancing energy resilience and modernization at the base. The project also features a 2-MW battery storage system to provide power during outages. Duke Energy's Chief Strategy Officer, Brian Savoy, emphasized the innovation and energy efficiency this project brings. This installation contributes to the Army's Climate Strategy by boosting clean energy and reducing greenhouse gas emissions.
Ameresco, Inc. (NYSE: AMRC) announced the resignation of Thomas Murley from its Board of Directors, effective June 30, 2022. Murley, who has served since October 2016, expressed pride in his contributions to the company's growth in energy efficiency and renewable energy sectors. CEO George Sakellaris acknowledged Murley's dedication, noting the board now consists of eight members. Founded in 2000, Ameresco specializes in sustainable energy solutions across North America and Europe, focusing on helping clients achieve Net Zero through energy infrastructure upgrades.
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