Lime Energy Sells ESCO Services Business Unit to PowerSecure

  Lime Energy Sells ESCO Services Business Unit to PowerSecure

Focusing on Next-Generation Utility Energy Efficiency Programs

Business Wire

HUNTERSVILLE, N.C. -- March 1, 2013

Lime Energy Co. (NASDAQ: LIME) announced today that Lime has sold certain
assets of its wholly owned subsidiary, Lime Energy Service Company,
constituting its energy service companies (ESCO) subcontracting business to
PowerSecure, Inc. a subsidiary of PowerSecure International, Inc.
(NASDAQ:POWR) for approximately $1.9 million in cash. PowerSecure also will
assume approximately $9.9 million of net liabilities related to existing
projects, resulting in an effective purchase price of approximately $11.8

Lime Energy, a leading provider of energy efficiency solutions for utilities,
completed this sale as part of its increased focus on utility direct install
programs, the fastest growing segment of the energy efficiency space. This
sale reinforces Lime’s commitment to serving its growing list of utility
clients, and to dedicate the corporate resources necessary to maintain its
track record of exceeding program savings goals and delivering customer

“I believe that our proven success in the utility program space creates the
potential for a high-growth, high-margin and less capital intensive business
for Lime Energy moving forward,” said John O’Rourke, President and CEO of Lime
Energy. “PowerSecure is an ideal home for our ESCO services business and we
are thrilled to see it continue with a North Carolina based company.”

“Lime is committed to helping our utility clients to engage their small
business customers with innovative efficiency solutions,” stated Adam Procell,
Senior Vice President of Utility Programs for Lime. “Reports released last
month by ACEEE and Lawrence Berkeley National Laboratory demonstrate the need
for utilities to do more for these customers than they have in the past –
Lime’s delivery model and mix of expertise provides utilities with a
cost-effective means of accomplishing this goal.”

With nine active small business direct install programs for utilities, Lime is
leading the way in this market, having delivered over $100 million in
incentives and 405,000 MWh to utility small business customers in the past
three years alone.

About Lime Energy Co

Lime Energy is building a new energy future. As a leading national provider of
energy efficiency for small business customers, Lime designs and implements
direct install programs for our utility clients which consistently exceed
program savings goals. Our award-winning, integrated services programs provide
utilities with reliable energy efficiency resources while delivering the
highest levels of customer satisfaction. This next generation approach is
helping utilities across the country to go deeper and broader with the
cheapest, cleanest and fastest energy resource that we have – energy


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 Lime Energy's current expectations
about its future results, performance, prospects and opportunities. Lime
Energy has tried to identify these forward-looking statements by using words
and phrases such as "may," "expects," "anticipates," "believes," “potential,”
“hope,” "intends," "estimates," "plan," "should," "typical," "preliminary," or
similar expressions. These forward-looking statements are based on information
currently available to Lime Energy and are subject to a number of risks,
uncertainties and other factors that could cause Lime Energy's actual results,
performance, prospects or opportunities to differ materially from those
expressed in, or implied by, these forward- looking statements. These risks
include our ability to continue to grow and expand our utilities business and
those described in Lime Energy's most recent Annual Report on Form 10-K or as
may be described from time to time in Lime Energy's subsequent SEC filings;
such factors are incorporated here by reference.


Lime Energy Co.
Ashley Conger, 704-892-4442
Investor Relations
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