Electric City Corp. Reports 2005 Year End Results

• Published in: PR Newswire p. 1
• Format: Newsletter
• Language: English
• Published: New York PR Newswire Association LLC 21.03.2006
• Subjects: Building automation; Customers; Demand side management; Electric rates; Energy consumption; Energy efficiency; Investments; Net losses; Safe harbor; Illinois

This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Electric City's current expectations about its future results, performance, prospects and opportunities. Electric City has tried to identify these forward-looking statements by using words and phrases such as "may," "expects," "anticipates," "believes," "intends," "estimates," "plans," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Electric City and are subject to a number of risks, uncertainties and other factors that could cause Electric City's actual results, performance, prospects or opportunities in the remainder of 2006 and beyond to differ materially from those expressed in, or implied by, these forward- looking statements, and are subject to the risks referenced in Electric City's current Annual Report on form 10-K or as may be described from time to time in Electric City's subsequent SEC filings. SOURCE Electric City Corporation "During the year Electric City continued to sign EnergySaver(TM) users like Nestle USA, Nissan, Exel Logistics and Fisher Scientific to add to a growing list of national, well-respected customers under the VNPP program. As the year progressed, customers became more familiar and comfortable with the technology, and some opted to become direct buyers to capture all of the economic benefits of the EnergySaver(TM) through direct capital purchases. This contributed to a 200% increase in our direct EnergySaver(TM) sales during 2005. As we grew revenues and the number of customers, we continued to work towards establishing new programs with other utilities in both the United States and Canada. Late last year we announced an agreement with Enersource to develop our VNPP demand response system for the Ontario utility. This initial program is a direct purchase by the utility and demonstrates the flexibility under which we can deploy future demand response systems.