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CONTACT INFORMATION
Excelergy Corporation
www.excelergy.com
FOR IMMEDIATE RELEASE
Excelergy Completes Best Third
Quarter Ever
Bookings Up 300 Percent and Revenues Up 70 Percent Year-to-Date
LEXINGTON, MA., October 17, 2001 – Excelergy® Corporation,
the world's first provider of groundbreaking open co-action software
products to the energy/utility industry and other restructuring
markets, today reported its most successful third quarter in its
history. Compared to a year ago, Excelergy's year-to-date bookings
(new sales) have grown 300 percent and its revenues are up 70%.
“Q3 marked the fourth consecutive quarter Excelergy has effectively
met or exceeded our plan,” said Bill Mahoney, Excelergy's president
and chief executive officer. “Our continued high performance and
steady growth speak volumes about the excellence of Excelergy's
technology, our engineering, our energy sector knowledge, and our
speed. Behind these company differentiators are the most talented
and hard-working group of colleagues I've ever had the privilege
of working with. Few companies anywhere can match growth numbers
like ours in today's economy.”
For the third consecutive quarter, Excelergy generated more than
170 percent of its quarterly target for repeat business, a key indicator
of client satisfaction. Also during the third quarter of 2001, Excelergy
signed several new North American clients, including Indiana-based
energy marketer Vectren Source and Virginia-based marketer ACN Energy.
It also signed a significant add-on agreement with Ohio-based FirstEnergy
Services.
Internationally, Excelergy continued its rapid implementation at
Powercor Australia, and signed a substantial add-on agreement with
the United Kingdom's Maverick Energy. It also significantly expanded
its global sales and channels force during the quarter.
“While we continue to deliver proven, innovative product solutions
to our growing global client base, software industry consolidation
– particularly in the wholesale and retail energy sectors – continues
to eliminate competition and open up broader market opportunities
for our products,” added Mahoney. “We will continue to leverage
our unparalleled object technology platform to capitalize on those
opportunities in the months and years ahead.”
Other significant Excelergy events and announcements in the third
quarter include the following:
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Excelergy's Mahoney joined the National Energy Marketers Association's
Executive Committee.
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Excelergy signed its first broadband industry partnership with
systems integrator Xperts Inc. To deliver groundbreaking solutions
to the companies' joint broadband and energy clients.
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Excelergy released two new products: Excelergy Customer Explorer™
and Excelergy Partner Explorer™. These products allow the customers
and partners of Excelergy clients to easily investigate their
own invoices, accounts and inquiries – drilling down to individual
line items as desired – in real-time over the Internet. Each
has been implemented and is in use with a major North American
client.
Excelergy's open co-action software products combine dynamic office
collaboration, straight-through processing, and actionable business
intelligence to enable clients to enter new markets faster, work
with trading partners more effectively, provide superior customer
and partner service, and settle and bill more efficiently and accurately
than their competition.
About Excelergy® Corporation
Excelergy is the world's first provider of open co-action software
products – putting “action” at the heart of “collaboration” – to
meet restructuring market needs worldwide. Excelergy delivers open
co-action through its three core product lines: Excelergy eXACT®
for inter-company collaboration, the Excelergy Advanced Business
Package™ for intra-company business process management, and Excelergy
Energy Trading™ for straight-through processing of wholesale energy
business processes. These products are based on an open, object-based,
Web-architected, native XML technology platform. Excelergy's North
American headquarters are located in Lexington, MA, with its European
headquarters in Bristol, England and its Asia-Pacific operations
based in Melbourne, Australia. More information is available at
www.excelergy.com.
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