Ameresco’s Memphis LED Streetlighting Project Receives 2024 Smart 20 Award for Transformative City Infrastructure

Rhea-AI Summary

Ameresco, Inc. (NYSE: AMRC) has received a 2024 Smart 20 Award for its LED Streetlighting, Controls, and Networking Project in partnership with Memphis Light, Gas, and Water (MLGW) and the City of Memphis. The project is expected to save over 37 million kWh of energy annually and reduce greenhouse gas emissions by 26,000 metric tons in Memphis. Ameresco's $47 million cleantech project involves upgrading 77,000 streetlights to energy-efficient LED fixtures, resulting in 55% energy savings and economic growth in Memphis.

Positive

• Ameresco's LED Streetlighting Project in Memphis received a 2024 Smart 20 Award for its innovative and sustainable design.
• The project is expected to save over 37 million kWh of energy annually and reduce greenhouse gas emissions by 26,000 metric tons in Memphis.
• Ameresco's project supports Memphis's goal of reducing greenhouse gas emissions by 51% below 2016 levels by 2035.
• The $47 million cleantech project resulted in significant energy savings and emissions reductions, contributing to the city's sustainability.
• Ameresco's expertise in LED lighting upgrades and controls integration was important for the project's success, leading to better lighting quality and energy savings for Memphis residents.
• The project also brought economic benefits to Memphis through local talent involvement in the construction of streetlighting upgrades.
• Ameresco will celebrate the award at the Smart Cities Connect Conference and Expo in Raleigh, North Carolina, on May 7, 2024.

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• None.

Ameresco’s $47 million cleantech project was recognized among nineteen other global smart cities projects for its innovative, cost-effective, and sustainable design

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced it has received a 2024 Smart 20 Award for its LED Streetlighting, Controls and Networking Project, in partnership with Memphis Light, Gas and Water (MLGW) and the City of Memphis. The winning project is expected to result in annual energy savings of over 37 million kWh and reduce greenhouse gas emissions by over 26,000 metric tons in the Memphis area. The project also supports the City’s sustainability goal of reducing greenhouse gas emissions by 51% below 2016 levels by 2035.

As background, the Smart 20 Awards, which is spearheaded by Smart Cities Connect Spring Conference and Expo, showcases the most transformative smart projects across the globe with current or future municipal-scale impact and application. The awards celebrate innovative smart projects with measurable results including improving quality of life, garnering cost savings, and decreasing emissions.

“We appreciate this recognition of our innovative streetlighting project located in the nation’s 28^th-largest city, Memphis, TN,” said Lou Maltezos, EVP, Ameresco. “This strategic project with Memphis Light, Gas and Water (MLGW) and the City of Memphis, will result in marked annual energy savings and emissions reductions. We’re proud to support the City’s next stage of growth with this clean, sustainable infrastructure solution.”

Ameresco was recognized for their success in upgrading over 77,000 citywide streetlights from high pressure sodium luminaires to energy efficient LED fixtures across the Memphis area. The $47 million cleantech project brought forth significant investment in the Memphis economy through collaboration with local talent who were hired to participate in the construction of the streetlighting upgrades. In addition, the project is expected to result in 55% savings in energy consumption, ultimately allowing the upgrades to pay for themselves over the life of the system.

Ameresco’s deep expertise has been invaluable throughout our complex LED lighting upgrade and controls integration project,” said Doug McGowen, president and CEO of Memphis Light, Gas and Water. “Their team’s knowledge was instrumental in every step, from initial evaluation to final implementation. Even though we are still in the final completion phase, the outcome of this LED lighting initiative has already been outstanding, providing better lighting for the residents of Memphis and simultaneously saving energy.”

Ameresco will celebrate the award on May 7, 2024, alongside fellow nominees at a reception preceding the annual Smart Cities Connect Conference and Expo in Raleigh, North Carolina.

To learn more about the smart cities solutions offered by Ameresco, visit https://www.ameresco.com/smart-cities/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes solutions that help customers reduce costs, decarbonize to net zero, and build energy resiliency while leveraging smart, connected technologies. From implementing energy efficiency and infrastructure upgrades to developing, constructing, and operating distributed energy resources – we are a trusted sustainability partner. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, utilities, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,500 employees providing local expertise in North America and Europe. For more information, visit www.ameresco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240425756789/en/

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What award did Ameresco's LED Streetlighting Project in Memphis receive?

Ameresco's LED Streetlighting Project in Memphis received a 2024 Smart 20 Award for its innovative and sustainable design.

How much energy is the project expected to save annually in Memphis?

The project is expected to save over 37 million kWh of energy annually in Memphis.

By how much is the project aiming to reduce greenhouse gas emissions in Memphis?

The project aims to reduce greenhouse gas emissions by over 26,000 metric tons in Memphis.

What is Ameresco's ticker symbol?

Ameresco's ticker symbol is AMRC.

When will Ameresco celebrate the award for the project?

Ameresco will celebrate the award on May 7, 2024, at the Smart Cities Connect Conference and Expo in Raleigh, North Carolina.