PowerSecure (POWR) Announced Smart Grid, LED Orders Totaling $35 Mill

I wasn’t able to track all the latest and greatest in the world of green stocks yesterday, so getting this out a bit late.  PowerSecure (POWR) surged nearly 10% yesterday with heavy volume off its 200 day moving average after issuing a press release stating the company is off to a rip roaring start here in 2010.  They announced a total of $35 million in new business landed in late December, early Jan for smart grid and LED applications.  Smart grid power systems for hospitals, data centers, retail sites, industrial sites and utilities account for $15 million with LED lighting for major grocery and drug retailers accounting for the rest.  $24 million of the revenue is expected to be recognized this year which is significant because it represents about a quarter’s worth of revenues.  The rest will be recurring revenue spread over several years.

As many green stock followers know, the LED space is red hot led by Cree Inc (CREE) and to a lesser degree Rubicon (RBCN) and Energy Focus (EFOI).  Not many are talking about POWR as an LED play, so definitely worth watching particularly after a 30% correction.  Their EfficientLights LED lighting fixtures will be installed in the refrigerated cases of the stores to improve the quality of light while reducing energy consumption by up to 70%.

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