Ameresco, Inc. - AMRC STOCK NEWS

Ameresco announced its participation in various upcoming investor conferences. Key executives, including Executive Vice President and CFO Doran Hole, will host investor meetings and presentations, starting with the Craig-Hallum 21st Annual Institutional Investor Conference on May 29, 2024, in Minneapolis, MN. This will be followed by the William Blair 44th Annual Growth Stock Conference on June 4, 2024, in Chicago, IL. Additional engagements include the Stifel 2024 Cross Sector Insight Conference on June 5, 2024, in Boston, MA; the Baird 2024 Consumer, Technology & Services Conference on June 6, 2024, in New York, NY; the J.P. Morgan Energy, Power & Renewables Conference on June 18, 2024, in New York, NY; and the ROTH 10th Annual London Conference on June 26, 2024, in London, UK. These appearances are aimed at engaging with investors and discussing the company's growth strategies and financial performance.

Ameresco announced its Kūpono Solar project in Hawaii received the SEAL Environmental Initiatives Award. The project, designed for the U.S. Navy, aims to power around 10,000 homes in O‘ahu and reduce over 50,000 tons of CO2. The initiative aligns with Hawaii's goal to achieve 100% renewable energy by 2045 and the Department of Defense's energy security strategy. Benefits include energy cost stabilization, job creation, local economic boosts, and reduced carbon emissions equivalent to removing 12,000 cars annually. Ameresco expressed pride in their contribution to environmental sustainability and community support.

Ameresco announced the commencement of a $33 million Energy Savings Performance Contract (ESPC) project at the U.S. National Archives and Records Administration (NARA) sites. This initiative aims to modernize infrastructure and enhance energy efficiency in College Park, MD, and Washington, DC. Expected outcomes include annual savings of $2 million, a 72% reduction in fossil fuel use, 48% reduction in utility water use, and 28% reduction in electricity. The project features upgrades such as building automation systems, heating and cooling optimizations, LED lighting, and more. Supported by a U.S. Department of Energy grant, Ameresco will also integrate solar PVs, a new chiller, and EV charging stations. This project aligns with Executive Order-14057, targeting net-zero emissions.

Ameresco has signed a $249 million contract and long-term service agreement with Atlantic Green for the construction of one of the UK’s largest battery energy storage projects.

The 300-megawatt project, utilizing Envision Energy's Battery Energy Storage System (BESS), will commence in the first half of 2024 and connect to the grid by the end of 2026. The project aims to enhance the UK's energy security and support its net-zero carbon emissions target by 2050.

Atlantic Green, a joint venture between Nofar Energy and Interland Group, aims to develop 2 GW of battery storage capacity in the UK. This project represents a significant milestone for both Ameresco and Atlantic Green in their sustainability efforts.

Ameresco (NYSE: AMRC) has been awarded a $21 million contract by the City of Henderson to upgrade over 30,000 streetlights to LED technology, including the replacement of several hundred poles. This initiative aims to enhance safety, energy efficiency, and community well-being. The project will improve outage monitoring, response times, and overall lighting quality, making streets safer for pedestrians, cyclists, and motorists. The initiative is part of Henderson's commitment to sustainable urban development. Ameresco has a decade-long partnership with Henderson, contributing to the city's infrastructure and quality of life improvements.

Ameresco, Inc. (NYSE:AMRC) reported solid financial results for the first quarter of 2024, showing growth in all business lines, a 45% increase in contracted backlog, and over 750 MWe in owned energy assets under development. The company reaffirmed its 2024 guidance, with revenues of $298.4 million, a net loss of $2.9 million, GAAP EPS of ($0.06), and adjusted EBITDA of $30.8 million. CEO George Sakellaris highlighted significant growth opportunities, record levels of project backlog, and the strategic focus on better win rates and improved margins in core markets. Ameresco's robust results support expectations for substantial growth in 2024, with multi-year visibility on profitable revenue growth. The company also reaffirmed its full-year 2024 guidance, expecting revenue and adjusted EBITDA growth of 20% and 38% respectively.

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.

Ameresco, Inc. released its 2023 Impact Report focusing on 'Doing Well, by Doing Good: People, Planet and Policy'. The report highlights the company's commitment to clean energy projects, renewable energy assets, and sustainability efforts. Ameresco's customer projects and renewable energy assets avoided approximately 16 million metric tons of CO2 in 2023, contributing to a cumulative total of over 110 million metric tons since 2010. The report showcases the company's dedication to driving the clean energy transition through partnerships with various organizations. Key highlights include exemplary customer stories, a new mentorship program, diversity initiatives, safety practices, community volunteering, and eco-friendly challenges. Ameresco reaffirms its long-term commitments to achieving net zero emissions, reducing customers' carbon footprints, prioritizing safety, and fostering employee growth opportunities. The report underscores the company's transparency, leadership, and ESG commitments, emphasizing its proactive approach to addressing global climate change and promoting sustainability.

Ameresco, Inc. (NYSE: AMRC) has installed energy-efficient solar arrays generating 230 KW in partnership with Wakefield Municipal Gas & Light Department. The project includes (470) 490W PV modules split into two systems for off-site and on-site energy utilization. The construction was completed on March 1st, 2024, showcasing Ameresco's commitment to sustainable infrastructure upgrades.