Wake Forest, N.C., March 5, 2012 — PowerSecure International, Inc. won a new contract to build electrical transmission infrastructure to support a series of new oil and gas production sites.
The boom in oil and gas drilling and production activity, driven by new low-cost technologies, is driving an immediate need for new electrical transmission infrastructure in remote areas to support these operations.
PowerSecure's work under this new contract will be performed on behalf of a major energy company, in partnership with an electric utility. The award is for several million dollars of electrical transmission design and construction, the majority of which is slated for completion in mid-2012.
The company will include the revenue associated with this new award in its revenue backlog published in conjunction with its fourth quarter 2011 earnings release on March 8, 2012.