Ameresco, Inc. - AMRC STOCK NEWS

Ameresco, Inc. (NYSE: AMRC) and Redflow Limited (ASX: RFX) have established a strategic relationship to integrate Redflow's advanced non-lithium battery energy storage technology into Ameresco's energy solutions. Ameresco aims to use Redflow's zinc-bromine flow batteries for medium- to long-duration energy storage applications. This partnership is expected to enhance Ameresco's portfolio, allowing it to meet growing market demands for non-lithium solutions. The two companies plan to deploy a commercial demonstration system and explore various customer engagements, positioning themselves for significant market opportunities in the renewable energy sector.

Ameresco, Inc. (NYSE: AMRC) has partnered with Alaska Pacific University to upgrade the Thomas Training Center on Eagle Glacier. The renovations aim to improve energy efficiency by installing new heating systems and retrofitting existing infrastructure. This project, which is set to be completed by October 2023, will help reduce energy consumption at the facility, which serves as a training hub for Winter Olympic athletes. The upgrades include a new boiler system and enhanced water conservation measures. The training center, established in 1987, will house up to 16 residents, contributing to the development of elite athletes.

Ameresco, Inc. (NYSE: AMRC) has extended its partnership with Yorkshire Dales Millennium Trust to plant 1,000 trees and restore wildlife habitats in the Yorkshire Dales region. This initiative aims to offset 80 metric tons of carbon dioxide over the next 50 years. Previously, Ameresco supported the planting of 500 trees through financial aid and volunteer efforts. The partnership will enhance biodiversity, supporting vital habitats for pollinators amid significant habitat loss in the UK. The company continues to promote sustainability and community service, aiming for over 2,000 community service hours in 2023.

Ameresco, Inc. (NYSE:AMRC) announced an upcoming analyst and investor day on May 11, 2023, in London. The event will run from 9:00 to 11:30 a.m. local time, featuring key leaders discussing long-term growth strategies and Ameresco’s expanding presence in Europe. Attendees will gain insights into Ameresco's integrated business model centered on cost savings, energy resiliency, and decarbonization. Analysts and institutional investors interested in attending can register by contacting investor relations at amerescoir@advisiry.com.

Ameresco, Inc. (NYSE:AMRC), a leader in clean technology, announced its participation in two investor conferences. The first event is the 35th Annual ROTH Conference on March 13, 2023, in Laguna Niguel, CA, featuring Chairman George Sakellaris and EVP Michael Bakas. The second event is the Piper Sandler 23rd Annual Energy Conference on March 21, 2023, in Las Vegas, NV, where CFO Doran Hole will conduct a fireside chat at 4:00 PM PT, joined by VP Josh Baribeau for additional investor meetings. Ameresco focuses on energy efficiency and renewable energy solutions across North America and Europe, with over 1,000 employees.

Ameresco (NYSE: AMRC) has signed a definitive agreement to acquire ENERQOS Energy Solutions, a Milan-based company specializing in renewable energy and energy efficiency. This strategic acquisition allows Ameresco to enhance its clean energy project portfolio in Italy, expanding its footprint across Europe. ENERQOS, with over 15 years of experience, offers a variety of energy-saving and carbon reduction projects in diverse markets, including healthcare and retail. The acquisition, expected to close in March 2023, positions Ameresco for high-growth opportunities in the European clean energy sector.

Ameresco reported strong financial results for 2022, achieving record revenues of $1.824 billion, up 50% year-over-year, and net income of $94.9 million, up 35%. The fourth quarter saw revenues decline 20% to $331.7 million due to project scheduling changes, but adjusted EBITDA for the year increased 34% to $204.5 million. The company is guiding for a 2023 adjusted EBITDA growth of 5% and reaffirms a $300 million target for 2024. Expansion in Europe continues with new contracts and acquisitions. Despite delays impacting the fourth-quarter results, Ameresco maintains a strong outlook buoyed by favorable market conditions and legislative support.

Ameresco (NYSE: AMRC) has announced that its Chicago Smart Lighting Program (CSLP) has received the Inspiring Efficiency Impact Award from the Midwest Energy Efficiency Alliance. Completed in 2022, CSLP is the largest city-led wireless smart streetlight program in the U.S., aimed at transforming Chicago's street lighting system. The project will save the city approximately $100 million over the next decade by replacing around 280,000 outdated lights with energy-efficient LEDs. This initiative is a significant step toward enhancing public safety and reducing energy consumption while demonstrating effective public-private collaboration.

Ameresco, a leader in renewable energy, has partnered with the City of Alton, Illinois, to develop a 5 MW AC solar array on a closed municipal landfill. This project is expected to generate approximately $1 million in revenue over its lifetime and produce around 10,000 MWh of electricity in the first year, reducing carbon emissions by over 7,000 tons. Spanning 30 years, it aims for a total output of 278,000 MWh and a reduction of 197,000 metric tons of CO2. Construction begins in spring 2023, with completion anticipated by year's end, contributing to Alton’s clean energy goals and local job creation.