Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced its partnership with the City of Memphis and Memphis Light, Gas and Water (MLGW) to lead a comprehensive LED streetlighting, controls and networking project designed to reduce energy costs citywide and enhance operations and maintenance capabilities with the upgrade of over 77,000 fixtures to LED.

In addition to providing improved illumination, enhanced safety and reduced maintenance needs, the project is expected to result in annual energy savings of more than 37 million kWh and reduce greenhouse gas emissions by more than 26,000 metric tons. The resulting energy and operating cost savings will allow the project to pay for itself over the life of the system. Updated luminaires will be fully controllable through remote monitoring on a secure network capable of additional smart city applications. The City of Memphis aims to significantly reduce its carbon emissions, while simultaneously improving both streetscape and nighttime visibility in a cost-effective and energy-efficient manner through the completion of this project.

Additionally, throughout the construction process, local residents from Memphis and the surrounding communities will be employed to participate in the construction of the streetlighting upgrades. By working in conjunction with the community, Ameresco hopes to exceed Memphis’s goals for MWBE participation for job creation and workforce development and create lasting opportunities for residents that extend beyond the project term.

"We are now almost ready to begin converting all 77,000 streetlights across our city to LED bulbs. By doing this, we will be bringing significantly improved lighting to every neighborhood in Memphis,” Mayor Jim Strickland said. “As I stated in my State of the City last year, no longer will criminals have a safe harbor to operate under cover of darkness and prey on our citizens in dimly lit parts of the City. I’m pleased this much-needed project will be starting soon.”

“MLGW is pleased to work with the City of Memphis and Ameresco to upgrade MLGW’s streetlighting system within the City of Memphis to provide enhanced lighting, substantial energy savings, reduced greenhouse gas emissions, and lower maintenance costs,” said J.T. Young, President and CEO, Memphis Light, Gas and Water.

As the leading Energy Services Company (ESCO) provider of LED streetlighting conversions and the largest non-utility purchaser of LED streetlights, Ameresco brings national streetlighting and controls experience to the project. In total, Ameresco has experience developing projects for and converting more than 800,000 streetlights to LED light sources, of which over 50% are controlled by a lighting management system.

“Our experience leading complex streetlighting modernization projects with some of the largest cities in the U.S., like Chicago and Phoenix, has prepared us well for our work with the City of Memphis,” said Louis P. Maltezos, Executive Vice President, Ameresco. “Our goal is to outfit the city with state-of-the-art solutions that will greatly reduce light pollution and ensure a cleaner, safer and healthier future for all Memphis residents.”

Construction is expected to begin in Fall 2022 and reach completion by Fall 2023.

To learn more about the smart cities solutions offered by Ameresco, visit https://www.ameresco.com/smart-cities/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

About City of Memphis

The City of Memphis, founded in 1819 and incorporated in 1826 is the second largest city in Tennessee and the 28th-largest city in the United States in terms of population. For more information, visit https://www.memphistn.gov/.

About Memphis Light, Gas and Water

Memphis Light, Gas and Water is the largest three-service public power utility in the nation, serving more than 439,000 customers in Memphis and Shelby County.

The announcement of an award of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such award, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of March 31, 2022.