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Ameresco, Inc. (NYSE: AMRC) is a pioneering, comprehensive energy efficiency and renewable energy company. With headquarters in Framingham, Massachusetts, Ameresco operates across North America and Europe. Founded in 2000, Ameresco offers a wide array of solutions aimed at reducing costs, enhancing energy security, and shifting towards clean, renewable sources of power. The company is known for its energy audits, innovative engineering, and large-scale solar farms. Its projects span governmental, educational, utility, healthcare, and other institutional, commercial, and industrial entities.
Ameresco's core operations involve developing and managing energy efficiency solutions, utility-scale solar farms, and deep energy retrofits. The company's extensive portfolio includes solar energy products and systems such as PV panels, solar regulators, inverters, and solar-powered lighting systems. These projects not only help in reducing emissions but also contribute to significant cost savings and energy resiliency.
Recent achievements highlight Ameresco's commitment to sustainability. The company was awarded a $47 million cleantech project in partnership with Memphis Light, Gas, and Water, recognized for its innovative, cost-effective, and sustainable design. Another notable project is the energy-efficient solar arrays installation, projected to generate 230 KW in collaboration with Wakefield Municipal Gas & Light Department.
Ameresco's financial performance remains robust with a reported revenue of $298.4 million for Q1 2024. The company maintains a strong project backlog exceeding $4 billion and operates over 750 MWe of energy assets. Ameresco continues to secure new projects such as the $33 million Energy Savings Performance Contract with the U.S. National Archives and Records Administration and the 300 MW battery energy storage project in the UK.
To learn more about the innovative projects and sustainable solutions offered by Ameresco, visit their website.
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.
Ameresco, Inc. (NYSE:AMRC) has announced its first investor day to be held on March 23, 2022, in New York City, starting at 2:30 p.m. ET. The event, initially scheduled for mid-January 2022, was postponed due to the COVID-19 Omicron variant surge. Attendees can expect interactive presentations from the leadership team, focusing on growth opportunities and the company's innovative energy solutions. Ameresco aims to clarify its integrated business model and long-term growth strategies centered around energy efficiency and sustainability.
Ameresco successfully completed an
Ameresco, Inc. (NYSE:AMRC) will release its fourth quarter and full year 2021 financial results on February 28, 2022, after market close. The earnings press release will be accessible via the Company's Investor Relations section on its website, followed by a conference call at 4:30 p.m. ET. Participants can join the call by dialing +1 (877) 359-9508 domestically or +1 (224) 357-2393 internationally, with a passcode of 7944909. A live webcast will also be available online.
Ameresco, Inc. (NYSE: AMRC) has announced the commencement of the Slemon Park Microgrid project in collaboration with PEI Energy Corporation. The project, which broke ground in December 2021, will include a 10-MW solar facility with integrated energy storage solutions to enhance energy efficiency in Prince Edward Island. It is projected to offset approximately 4500 tonnes of CO2e/year over its lifespan, supporting the province's goal of achieving Net Zero energy by 2030.
Ameresco, Inc. (NYSE: AMRC) announced that Nicole Bulgarino, Executive VP and GM of Federal Solutions, has been honored in the 2021 Environment + Energy Leader 100 list. This recognition showcases individuals pioneering innovative solutions in environmental and energy management. Over her career, Ms. Bulgarino has led the implementation of more than $2 billion in Federal projects for government agencies including the Department of Defense and Energy. The E+E 100 list celebrates key contributors to sustainability and energy success.
Ameresco (NYSE: AMRC) has partnered with Merthyr Tydfil Council on a £1.09 million energy conservation project. This initiative aims to modernize infrastructure across 31 council sites, including the installation of solar PV systems and LED lighting. Estimated savings from the project are over £136,000 annually, with a goal to reduce carbon emissions by 251 tonnes per year. The construction is scheduled for completion in March 2022, aligning with Merthyr Tydfil's objective to achieve net zero carbon emissions by 2030.
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