Excelergy Licenses Procurement Auction Software to World Energy Exchange.Business/Technology Editors & Energy Writers WORCESTER, Mass. & LEXINGTON, Mass.--(BUSINESS WIRE)--Nov. 9, 2001 - World Energy Exchange now using Excelergy's eChoiceNet transaction engine to conduct energy procurement auctions Excelergy Corporation, the world's first provider of open co-action software products to restructuring markets, has signed a perpetual license agreement with Worcester-based competitive energy procurement and management services firm World Energy Exchange Inc. The agreement allows World Energy Exchange to use Excelergy's eChoiceNet product to enable its clients, including Ford, Target Stores, Sage Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. , General Services Administration The General Services Administration (GSA) was established by section 101 of the Federal Property and Administrative Services Act of 1949 (40 U.S.C.A. § 751). The GSA sets policy for and manages government property and records. (procurement arm of the Federal Government), The United Nations and the American Red Cross American Red Cross: see Red Cross. , to procure billions of dollars of energy competitively. "World Energy Exchange's market success underscores the broad applicability of Excelergy's software products and technology across the length and breadth of the energy value chain," said Bill Mahoney Bill Mahoney (born June 23, 1936 in Peterborough, Ontario) is a former Canadian ice hockey coach. He was head coach of the Minnesota North Stars from 1983 to 1985. External links
Under the agreement, World Energy Exchange obtained both a perpetual license to eChoiceNet and certain exclusive marketing rights. Excelergy retains intellectual property rights to eChoiceNet and selected marketing rights. "The ability to readily conduct electronic auctions on behalf of our clients with Excelergy's software enables World Energy Exchange to save our clients literally millions of dollars in energy bills," said Richard Domaleski, World Energy Exchange's president. "Our efficient and supplier independent process and services are the critical added value Added value in financial analysis of shares is to be distinguished from value added. Used as a measure of shareholder value, calculated using the formula:
About Excelergy(R) 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 three core product lines: Excelergy eXACT(R) for inter-company collaboration, the Excelergy Advanced Business PackageTM for intra-company collaboration, and Excelergy Energy TradingTM for the straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. of wholesale energy business processes. These products are based on an open, object-based, Web-architected, native XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. technology platform. Excelergy's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. 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. About World Energy Exchange World Energy Exchange is the industry-leading, supplier neutral provider of competitive energy procurement and management services to commercial, industrial and government customers. Its lengthy roster of blue chip customers, that procure more than 20% of the commercial and industrial market's estimated $340 billion annual energy purchases. Founded in 1996, the company is unique in the industry with no ties to any utility or supplier, an independent position that ensures delivery of best pricing by bringing the force of truly competitive bidding Competitive bidding A securities offering process in which securities firms submit competing bids to the issuer for the securities the issuer wishes to sell. competitive bidding 1. to bear directly on each client's energy demands. World Energy Exchange, Inc. has its headquarters at 1 Exchange Place, Worcester, MA, and representative offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and Dallas, TX. More information is available at www.wexch.com. |
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