Ameresco, Inc. - AMRC STOCK NEWS

Ameresco, Inc. (NYSE: AMRC) has acquired Ohio-based Plug Smart, an energy services company specializing in budget-neutral capital improvement projects, including building automation systems. This acquisition enhances Ameresco's smart building solutions and strengthens its clean energy pipeline. Plug Smart's proven expertise in energy efficiency will complement Ameresco's existing offerings. The financial terms of the acquisition remain undisclosed, but Ameresco does not expect a significant impact on its 2021 financial results.

Ameresco, Inc. (NYSE: AMRC) has received the 2021 Brad Roberts Outstanding Industry Achievement by a Member Organization Award from the U.S. Energy Storage Association. The award recognizes Ameresco's innovative strategies in the battery energy storage systems (BESS) market and its impactful projects at critical facilities, such as the U.S. Marine Corp Recruit Depot Parris Island. The award ceremony highlighted advancements in the energy storage sector, promising resilience against climate challenges and job creation. Ameresco aims to lead the transition to a greener future through its energy-efficient solutions.

Ameresco (NYSE:AMRC) has partnered with Oakwood School District to construct an addition to Oakwood Grade School, breaking ground on a new facility aimed at enhancing learning environments for students and staff. The project addresses needs of aging facilities and will transition students to a new wing with improved technology and resources. The existing Junior High will be closed, leading to energy savings by utilizing efficient systems in the new space. Completion is expected by Summer 2022, with funding supported by ESSER funds.

Ameresco has initiated a 15-year partnership with Kauai Beach Resort for a $15.5 million energy efficiency renovation project. The agreement allows the resort to update energy-related equipment without upfront costs, enhancing sustainability and reducing energy consumption. Over the next two years, Ameresco will install new lighting, HVAC systems, and a building automation system. The project aligns with the resort's ongoing upgrades and aims for completion by summer 2023, leading to significant utility cost savings.

Ameresco, Inc. (NYSE: AMRC) has completed a solar PV installation at Montecito Union School District’s Nature Lab, offsetting 97% of annual electricity usage. The project includes over 450 solar panels generating over 300,000 kWh per year. Funded by the Montecito Union School Foundation, it enhances educational resources while promoting sustainability. Construction began in September 2021 and received operational approval in October 2021. CEO Anthony Ranii emphasized the dual benefits of environmental stewardship and fiscal responsibility, showcasing Ameresco's commitment to integrating renewable energy into educational environments.

Ameresco, Inc. (NYSE: AMRC) has announced the successful operational launch of its innovative energy project at John Paul II Catholic Secondary School in Canada, making it the country's first retrofitted carbon neutral school. The project, which includes 2,700 solar panels, geothermal systems, and energy storage, aims to cut greenhouse gas emissions nearly to zero, removing about 277 tons of carbon annually. It also reduces electricity costs by 68% and received a $4.5 million investment from Natural Resources Canada.

Ameresco, a cleantech integrator, reported Q3 2021 revenues of $273.7 million and net income of $17.4 million with GAAP EPS of $0.33. Despite a 10% decline in project revenue due to supply chain issues and COVID-19 delays, the company experienced a 29% increase in Energy Asset revenue. The awarded backlog grew by 31% year-over-year, reaching $2.364 billion. Ameresco announced a historic contract for a 537.5 MW battery storage system, enhancing growth prospects. FY 2021 guidance is raised, with expected revenues of $1.19 billion to $1.24 billion.