World Energy Shrinks Loss By 67%
Word Energy Solutions Inc., a Worcester-based operator of online energy auctions and green commodities, reported a net loss of $800,000 for the second quarter, a 67 percent improvement.
Revenue for the quarter increased 33 percent from a year ago to $3.7 million. At the end of the quarter, revenue was 98 percent of its total for 2008.
Richard Domaleski, the company's CEO, said World Energy has been able to grow despite the "challenging economic environment" by making its way into new markets. He said the company was pleased that the cap-and-trade system for reducing carbon emissions included in the American Clean Energy Act would create significant demand for carbon offsets, which the company can broker.
"We see these as positive steps forward for the environment and our business," Domaleski said in a statement.
WBJ Web Partners
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