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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) announced the completion of a citywide energy efficiency project for Virginia, Minnesota, financed by a $2.5 million Energy Savings Performance Contract. The project, initiated in January 2020 and completed in September 2020, aims to reduce the city's energy consumption by approximately 21%, equivalent to 819 metric tons of CO2 per year. Improvements included upgrades to LED lighting, HVAC systems, and building automation across 12 city buildings. Mayor Larry Cuffe emphasized the project's dual benefits of sustainability and cost savings, enhancing municipal budgets for community investments.
Ameresco, a leader in energy efficiency and renewable energy, has announced participation in two upcoming investor conferences. On November 12, 2020, CFO Doran Hole will present at Baird’s 2020 Global Industrial Conference at 4:20 PM ET, followed by virtual investor meetings. On November 17, 2020, CEO George Sakellaris and CFO Doran Hole will engage in one-on-one meetings at the 11th Annual Craig-Hallum Alpha Select Conference. Ameresco is known for its sustainability services and has a significant presence in North America and Europe.
Ameresco, Inc. (NYSE:AMRC) reported strong Q3 2020 results, with revenues rising 33% to $282.5 million, driven by robust performance in its Federal Solutions Group. Net income surged 126% to $20 million, and adjusted EBITDA increased 54% to $36.8 million. The company raised its full-year revenue guidance to $960 million-$1 billion and non-GAAP EPS to $0.94-$1.00. With a total project backlog of $2.2 billion, Ameresco remains well-positioned amidst COVID-19 challenges, focusing on innovative energy solutions.
Ameresco, Inc. (NYSE:AMRC) announced a $4 million contract with the City of Medford to enhance energy efficiency by converting approximately 8,000 street and park lights to LED technology. This project, financed through a low-interest loan, is expected to save taxpayers on energy costs and reduce carbon emissions. The upgrades will utilize an Energy Savings Performance Contract (ESPC), allowing funding through energy savings over the contract term. Completion is anticipated in 2021, marking a significant step in Medford's energy efficiency initiatives.
Ameresco, Inc. (NYSE:AMRC) has partnered with Grants Pass School District 7 to implement an Energy Savings Performance Contract (ESPC) for upgrades at thirteen school locations. This move follows the district's unsuccessful attempts at securing voter-approved bonds. Utilizing low-interest financing, the upgrades will include improvements to lighting, HVAC, and building envelopes, funded through energy savings and utility incentives. Ameresco's Executive VP, Lou Maltezos, emphasized their commitment to enhancing infrastructure while ensuring student safety.
Ameresco, Inc. (NYSE:AMRC) announced it will release its third quarter 2020 financial results post-market on November 2, 2020. The earnings press release will be accessible in the Company's Investor Relations section. An earnings conference call will follow at 4:30 p.m. ET on the same day. Participants can join the call by dialing the provided numbers or through a live webcast on the Company's website. Founded in 2000, Ameresco is a leader in energy efficiency and renewable energy solutions across North America and Europe.
Ameresco, Inc. (NYSE: AMRC) has partnered with the City of Gatesville, Texas, to implement an automatic metering infrastructure (AMI) project, replacing over 3,600 outdated water meters. This initiative aims to enhance water usage transparency and billing efficiency for residents, promoting conservation and reducing operational costs. Over a 15-year period, Gatesville anticipates savings of over $860,000 in meter reading costs, as well as capturing an estimated $1.5 million in lost water and sewer revenues. The project commenced in September 2020 and is expected to be completed by early next year.