World Energy Solutions Completes EnergyGateway Acquisition

    WORCESTER, MA, June 4 /CNW/ - World Energy Solutions, Inc. ("World
Energy") (TSX: XWE), which operates leading online exchanges for energy and
energy related products, today announced that it has it has completed the
previously announced acquisition of privately held EnergyGateway, LLC., a
leading online broker of natural gas and electricity for commercial and
industrial (C&I) consumers in the United States.
    Under the terms of the final agreement, World Energy purchased
substantially all of the assets of EnergyGateway for US$4.95 million in cash
and 5.375 million common shares of World Energy plus the assumption of certain
    Among other benefits, the acquisition significantly strengthens World
Energy's presence in the natural gas market to complement the Company's
substantial position in electricity. Together, the two companies now offer an
expanded suite of online tools, a broader national footprint including the
Midwest and the C&I markets, and a strong market share in natural gas.
    Richard Domaleski, CEO of World Energy Solutions said, "We are very
pleased to have successfully completed this acquisition which enhances World
Energy's already strong position in the deregulated retail energy markets. We
believe that the unique and successful online post and respond system
developed by EnergyGateway is a perfect addition to our proven technology and
broadens the flexibility of the World Energy Exchange offerings for our
combined customer base."
    "This is a great move for the Energy Gateway family, and we are excited
about being a part of World Energy. The company's vision, leadership and
commitment should allow us to realize the goal of creating more efficient
markets for energy participants that lower acquisition costs for suppliers and
deliver the best possible price for end users," added Tyler Wooddell, formerly
President and CEO of EnergyGateway. Mr. Wooddell is now a Senior Vice
President at World Energy Solutions.
    Mr. Domaleski added that "This acquisition is evidence of our commitment
to deliver on the growth strategy we outlined during our initial public
offering, which includes acquisitions to consolidate the fragmented online
energy market through the World Energy Exchange, adding depth to our pool of
industry experts, and continuing to grow our World Green Exchange."

    About World Energy

    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 seek the best possible
price. To date the company has brokered over 32.5 billion kilowatt hours of
electricity 64 billion cubic feet of natural gas, and over 500 million kwh of
green power and renewable energy certificates (RECS). For more information,
please visit

    About EnergyGateway

    EnergyGateway is a leading energy procurement company that serves
Fortune 500, and mid-size commercial customers from nearly every major
industry in the U.S. and Canada along with local government and institutional
customers such as colleges and universities. Over the past seven years
EnergyGateway's Energy Purchasing service has successfully executed more than
8,500 energy transactions worth over $6 billion. For more information, visit

    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; our dependence 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 other factors identified in our Annual Report on Form 10-K and
subsequent reports filed with the Securities and Exchange Commission.

For further information:

For further information: Investor Relations: Phil Adams, World Energy
Solutions Inc., (508) 459-8100, or Craig Armitage, The
Equicom Group, (416) 815-0700 x278,; Media
Relations: Ginger Juhl, Juhl Communications, (720) 200-4082,

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