World Energy Buys GSE for $8.6M, Gains Foothold in Texas

Some interesting news in cleantech today. Worcester, MA-based World Energy Solutions (NASDAQ: [[ticker:XWES]]) said it has acquired GSE Consulting, an energy management and procurement firm based in Dallas, TX, for $8.6 million plus a potential earn-out. World Energy said it will bring on more than 20 GSE employees across three offices in Texas.

The move appears to strengthen World Energy’s presence in Texas, which is the nation’s largest deregulated electricity market. And the acquisition is World Energy’s third in the last seven weeks, following pickups of Northeast Energy Solutions in energy efficiency and the energy procurement business of Co-eXprise.

World Energy, led by CEO Richard Domaleski, specializes in energy management services, such as the demand response market, in which utilities pay factories, stores, and cities to curtail their energy use during peak demand times.

Author: Gregory T. Huang

Greg is a veteran journalist who has covered a wide range of science, technology, and business. As former editor in chief, he overaw daily news, features, and events across Xconomy's national network. Before joining Xconomy, he was a features editor at New Scientist magazine, where he edited and wrote articles on physics, technology, and neuroscience. Previously he was senior writer at Technology Review, where he reported on emerging technologies, R&D, and advances in computing, robotics, and applied physics. His writing has also appeared in Wired, Nature, and The Atlantic Monthly’s website. He was named a New York Times professional fellow in 2003. Greg is the co-author of Guanxi (Simon & Schuster, 2006), about Microsoft in China and the global competition for talent and technology. Before becoming a journalist, he did research at MIT’s Artificial Intelligence Lab. He has published 20 papers in scientific journals and conferences and spoken on innovation at Adobe, Amazon, eBay, Google, HP, Microsoft, Yahoo, and other organizations. He has a Master’s and Ph.D. in electrical engineering and computer science from MIT, and a B.S. in electrical engineering from the University of Illinois, Urbana-Champaign.