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PowerSecure Adds Utility Security Capabilities with Acquisition of Encari

  PowerSecure Adds Utility Security Capabilities with Acquisition of Encari

Business Wire

WAKE FOREST, N.C. -- October 9, 2013

PowerSecure International, Inc. (NYSE: POWR) today announced that the company
has acquired the assets of Encari, LLC, a leading provider of cybersecurity
and compliance consulting services to the utility industry.

The company expects that the $4.8 million cash transaction will be neutral to
2013 earnings per share (EPS), slightly accretive to 2014 EPS and additive to
the gross margin of the company’s existing utility infrastructure business.
The company could pay up to an additional $1.2 million of consideration if
Encari achieves certain income goals in the fourth quarter of 2013.

Encari helps large investor-owned utilities, municipalities and cooperative
utilities assess, improve and maintain their compliance with the North
American Electric Reliability Corporation’s (NERC) Critical Infrastructure
Protection (CIP) Reliability Standards. Utilities must comply with these
standards or they could be subject to significant fines and penalties.

“PowerSecure is focused on serving our utility customers. By adding Encari’s
technical consulting expertise, we are able to expand our service offering to
our existing utility partners and bring new services to Encari’s impressive
customer base,” said Sidney Hinton, chief executive officer of PowerSecure.

Steve Hamburg, president of Encari said, “With our unparalleled understanding
of Federal Energy Regulatory Commission regulations and NERC CIP Reliability
Standards, Encari has been able to help its utility customers achieve and
maintain required compliance.”

“Now, with the added resources and substantial capabilities of PowerSecure, we
will be able to provide a broader range of services to utilities as they
continue to adapt to new and complex cybersecurity compliance requirements,”
Hamburg added.

About PowerSecure

PowerSecure International, Inc. is a leading provider of utility and energy
technologies to electric utilities, and their industrial, institutional and
commercial customers. PowerSecure provides products and services in the areas
of Interactive Distributed Generation ^® (IDG^®), energy efficiency and
utility infrastructure. The company is a pioneer in developing IDG^® power
systems with sophisticated smart grid capabilities, including the ability to
1) forecast electricity demand and electronically deploy the systems to
deliver more efficient, and environmentally friendly, power at peak power
times, 2) provide utilities with dedicated electric power generation capacity
to utilize for demand response purposes and 3) provide customers with the most
dependable standby power in the industry. Its proprietary distributed
generation system designs utilize a range of technologies to deliver power,
including renewables. The company’s energy efficiency business develops energy
efficient lighting technologies that improve the quality of light, including
its proprietary EfficientLights^® LED lighting products for grocery, drug and
convenience stores, and its SecureLite area light and PowerLite street lights
for utilities and municipalities. PowerSecure also provides electric utilities
with transmission and distribution infrastructure maintenance and construction
services, and engineering and regulatory consulting services. Additional
information is available at www.powersecure.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of
and made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are all statements
other than statements of historical facts, including but not limited to
statements concerning the impact of the acquisition of the business of Encari
on the Company’s earnings per share and gross margins; the operations,
strategies and prospects of the acquired Encari business; and all other
statements concerning the plans, intentions, expectations, projections, hopes,
beliefs, objectives, goals and strategies of management, including statements
about other future financial and non-financial items, performance or events
and about present and future products, services, technologies and businesses;
and statements of assumptions underlying the foregoing.

Forward-looking statements are not guarantees of future performance or events
and are subject to a number of known and unknown risks, uncertainties and
other factors that are difficult to predict and could cause actual results to
differ materially from those expressed, projected or implied by such
forward-looking statements. Important risks, uncertainties and other factors
include, but are not limited to, the on-going downturn, disruption and
volatility in the economy, financial markets and business markets and the
effects thereof on the company's markets and customers, the demand for its
products and services, and the company's access to capital; the size, timing
and terms of sales and orders, including the company's revenue backlog, and
the risk of customers delaying, deferring or canceling purchase orders or
making smaller purchases than expected; the potential adverse financial and
reputational consequences that can result from safety risks and hazards such
as accidents inherent in the company’s operations; the impact of the company’s
recent acquisitions of the ESCO business, the Solais business, and the
commercial and industrial solar business; the company’s ability to reduce and
control its costs and expenses; the timely and successful development,
production and market acceptance of new and enhanced products, services and
technologies of the company; the ability of the company to obtain adequate
supplies of key components and materials of sufficient reliability and quality
for its products and technologies on a timely and cost-effective basis and the
effects of related warranty claims and disputes; the ability of the company to
successfully expand its core distributed generation products and services, to
successfully develop and achieve market acceptance of its new energy-related
businesses, to successfully expand its recurring revenue projects, to manage
its growth and to address the effects of any future changes in utility tariff
structures and environmental requirements on its business solutions; the
effects of competition; changes in customer and industry demand and
preferences; the ability of the company to continue the growth and
diversification of its customer base; the ability of the company to attract,
retain, and motivate its executives and key personnel; changes in the energy
industry in general and the electricity, oil, and natural gas markets in
particular, including price levels; the effects of competition; the ability of
the company to secure and maintain key contracts and relationships; the
effects of pending and future litigation, claims and disputes; and other
risks, uncertainties and other factors identified from time to time in its
reports filed with or furnished to the Securities and Exchange Commission,
including the company's most recent Annual Report on Form 10-K, as well as
subsequently filed reports on Form 10-Q and Form 8-K, copies of which may be
obtained by visiting the investor relations page of the company’s website at
www.powersecure.com or the SEC’s website at www.sec.gov.

Accordingly, there is no assurance that the results expressed, projected or
implied by any forward-looking statements will be achieved, and readers are
cautioned not to place undue reliance on any forward-looking statements. The
forward-looking statements in this press release speak only as of the date
hereof and are based on the current plans, goals, objectives, strategies,
intentions, expectations and assumptions of, and the information currently
available to, management. The company assumes no duty or obligation to update
or revise any forward-looking statements for any reason, whether as the result
of changes in expectations, new information, future events, conditions or
circumstances or otherwise.

Contact:

PowerSecure International, Inc.
John Bluth, 919-453-2103
 
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