WORCESTER, MA, Sept. 10 /PRNewswire-FirstCall/ -- World Energy Solutions, Inc. (TSX: XWE), the operator of leading online exchanges for energy and energy-related products, today announced the appointment of three key executives.
Mike O'Neil, formerly with Intercontinental Exchange , has joined World Energy to lend his exchange industry experience in continuing to grow World Energy's wholesale energy business. With World Energy Mr. O'Neil will be responsible for working directly with the company's wholesale constituents to help them manage their evolving energy needs. Mr. O'Neil joins World Energy as Vice President, Wholesale Sales, Northeast.
Ken Ivanic joins from UK-based Utilyx Limited, an exclusive partner of World Energy. Mr. Ivanic will help to bolster World Energy's growing green market presence in the United States as Product Manager, World GreenExchange. Mr. Ivanic's primary responsibility will be to prospect, qualify and secure long-term energy brokerage and consultancy contracts in a variety of sectors including hospitality, industrial-manufacturing, retail and government.
Carolyn Oldenburg joins World Energy as General Counsel. Ms. Oldenburg, an attorney with more than 15 years of experience, most recently served as Director of Legal Operations and Security for GeoTrust, Inc. Ms. Oldenburg will be responsible for the overall planning, management and execution of World Energy's legal functions.
In addition, Eric Alam, who joined World Energy earlier in 2007 as the head of Corporate Marketing, has expanded his role at World Energy to Senior Vice President of Sales and Corporate Marketing, replacing David Bat, who is no longer with the company. Mr. Alam will leverage over two decades of experience in leading sales and marketing efforts in various aspects of the energy industry including experience in wholesale, retail and risk management.
Phil Adams, World Energy COO, said, "Bringing Mike, Ken and Carolyn to World Energy further strengthens our team. World Energy's ability to continue attracting subject matter experts who have helped create successful businesses is a testament to our company's position as an industry innovator and leader."
About World Energy Solutions, Inc.
World Energy operates leading online exchanges for energy and energy-related products. Our proven approach provides market intelligence, promotes liquidity, and creates price transparency for all market participants, enabling our customers to transact with confidence and to seek the best possible price. To date, the company has transacted over 32 billion kwh of electricity, 500 million kwh of green power and Renewable Energy Certificates (RECs) and one trillion cubic feet of natural gas. For more information, please visit http://www.worldenergy.com/.
This press release contains forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to: our revenue is dependent on actual future energy purchases pursuant to completed procurements; the demand for our services is affected by changes in regulated prices or cyclicality or volatility in competitive market prices for energy; we depend on a small number of key energy consumers, suppliers and channel partners; there are factors outside our control that affect transaction volume in the electricity market; and there are other factors identified in our Annual Report on Form 10-K and subsequent reports filed with the Securities and Exchange Commission.
