World Energy Solutions secures US$3 million credit facility with Silicon Valley Bank

    WORCESTER, MA, Sept. 8 /CNW/ - World Energy Solutions, Inc. (TSX: XWE)
(the "Company") today announced that it has entered into a Loan and Security
Agreement (the "Agreement") with Silicon Valley Bank ("SVB"). Under the
Agreement, SVB has committed to make advances to the Company in an aggregate
amount of up to $3,000,000 subject to availability against certain eligible
account receivables and eligible retail backlog.
    Jim Parslow, Chief Financial Officer of the Company, said, "We are
pleased that SVB provided this credit facility, which gives us increased
financial strength and flexibility as we grow the business. As we reported in
our second quarter earnings, we continue to believe we have the financial
resources to achieve our strategic growth initiatives, and expect further
decreases in cash used in operations this year based on strong revenue growth
in multiple product lines and a stable fixed cost base. We have continued to
experience a rise in auction activity during the third quarter as commodity
prices have declined significantly after the dramatic run-up from February
through June."

    About Silicon Valley Bank

    Silicon Valley Bank is the premier commercial bank for companies in the
technology, life science, private equity and premium wine industries. SVB
provides a comprehensive suite of financing options, treasury management,
corporate investment and international banking services to its clients
worldwide. Through its focus on specialized markets and extensive knowledge of
the people and business issues driving them, Silicon Valley Bank provides a
level of service and partnership that measurably impacts its clients' success.
Founded in 1983 and headquartered in Santa Clara, Calif., the company serves
clients around the world through 27 U.S. offices and five international
operations. Silicon Valley Bank is a member of global financial services firm
SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB
Private Client Services. More information on the company can be found at

    About World Energy

    World Energy operates leading online exchanges for energy and
environmental commodities. 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 more than
45 billion kWh of electricity, 1 billion kWh of green power and Renewable
Energy Certificates (RECs) and over 100 billion Dth of natural gas. For more
information, please 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; 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.

For further information:

For further information: Jim Parslow, World Energy Solutions, Inc.,
(508) 459-8100,; Craig Armitage, The Equicom Group,
(416) 815-0700 x278,

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