Ameresco, Inc. - AMRC STOCK NEWS

Ameresco, Inc. (NYSE:AMRC) hosted its Investor Day, setting a 2024 Adjusted EBITDA target of $300 million, which is double the 2021 levels. The company's addressable markets are expanding rapidly, projected to grow from $80B in 2022 to over $100B by 2026. Ameresco is also focusing on its Renewable Natural Gas (RNG) project, targeting a four-fold increase in MMBtu output by 2024. Additionally, progress on the SCE BESS Project is ongoing, with all major contracts secured and sites mobilized for timely completion.

Ameresco, Inc. (NYSE:AMRC) has announced its Investor Day scheduled for March 23, 2022, in New York, NY. The event will showcase key growth opportunities and innovative solutions that position Ameresco as a preferred partner for advanced energy projects. Investors and analysts unable to attend in person can join a live webcast at 2:30 p.m. ET on the same day. Registration for the event is available online, with an archive of the webcast to be provided post-event.

Ameresco (NYSE: AMRC) announces its partnership with Yorkshire Dales Millennium Trust to plant 500 trees in the Yorkshire Dales this year. The initiative aims to combat climate change while enhancing local habitats. As part of a broader effort, YDMT plans to plant 28,000 trees and 2.5 kilometers of hedgerow in 2022. Ameresco's UK division contributed financially to support this project, demonstrating their commitment to sustainability and net-zero goals. Employee volunteers will participate in tree maintenance and planting throughout the year.

Ameresco, Inc. (NYSE:AMRC) has announced an amendment and restatement to its senior secured credit facility, increasing the total amount to $495 million. This includes a $262 million increase focused on supporting growth objectives, such as a design-build agreement with Southern California Edison for a 537 MW battery energy storage system. The financing, facilitated by Bank of America, enhances Ameresco's financial capacity for cleantech projects and potential acquisitions.

Ameresco (NYSE: AMRC) has partnered with HGACEnergy to manage its electricity procurement and advisory services in Texas. This collaboration aims to enhance energy solutions for local government entities, ensuring access to reliable, low-cost electricity. Ameresco will take over management of supply contracts and establish relationships with cooperative members, furthering its commitment to energy efficiency in the region. The partnership emphasizes mutual values of service and sustainability, reinforcing Ameresco's role as a leader in renewable energy.

Ameresco, a cleantech integrator, reported strong Q4 2021 results with revenues of $415.9 million, up 32% year-over-year. Net income increased 20% to $28.2 million, while GAAP EPS rose 13% to $0.53. For the full year, revenues reached $1.2 billion (up 18%) and net income grew 30% to $70.5 million. The company ended 2021 with a total project backlog of over $3 billion and is guiding for revenues in 2022 between $1.83 billion and $1.87 billion, indicating strong future growth prospects.

Ameresco, a cleantech leader, announced its participation in a Hydrogen Pilot Project selected by the Building the Clean Hydrogen Economy consortium, aimed at integrating clean hydrogen into heavy transportation between Los Angeles and Phoenix.

This initiative focuses on producing low-carbon hydrogen from renewable natural gas sources. Key consortium members include Bank of America, Walmart, and others. Ameresco's involvement highlights its commitment to advancing hydrogen as a scalable fuel, promoting environmental benefits, and fostering collaboration in clean energy innovations.

Guidehouse has launched the Building the Clean Hydrogen Economy consortium to advance the use of clean hydrogen in the U.S. energy sector. Since fall 2021, over 20 organizations, including Ameresco and AVANGRID, have collaborated on pilot projects aimed at decarbonizing heavy transport and integrating renewables. Key projects involve heavy-duty transport and green ammonia production. The consortium emphasizes scalable business models and partnerships, targeting clean hydrogen demand by 2025-2030.

Ameresco (NYSE: AMRC) recently completed a significant upgrade of approximately 280,000 street light fixtures in the City of Chicago. This initiative, part of the Chicago Smart Lighting Program, is projected to save the city over $100 million in electricity costs over the next ten years. As the primary contractor for the $160 million project, Ameresco replaced about 85% of the city's street lights with energy-efficient smart LEDs, significantly reducing energy consumption by 50-75%.

In addition to financial savings, the project aims to enhance public safety with better lighting.