AWS Truepower's Solar Mapping Revenue Up $1M

By The Business Review (Albany)

AWS Truepower saw its solar mapping revenue grow from zero to $1 million in 2010, its first year since the Albany wind mapping and monitoring company expanded into the solar industry.

CEO Bruce Bailey, a former atmospheric science researcher at the University at Albany, formed AWS in 1985.

Bailey said the business had grown to 85 employees, generating $18 million in annual revenue by selling its services to wind power project developers, wind power utility companies and banks that underwrite such projects.

The company began offering mapping and planning services last year and changed its name from AWS Truewind to AWS Truepower.

Bailey said total revenue last year was roughly $19 million and he expects that to grow by double digits in 2011.

The company will increase its staff in Albany. Its operations in Barcelona, Spain and Bangalore India also are expected to increase revenue and add employees this year, Bailey said.

Bailey said the Barcelona operation, which is a joint venture with a group of university researchers in Spain, currently employs 17. The India office, which opened in 2009, employs one.

Counting the Albany and international operations, total employment is more than 100.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/albany/news/2011/01/10/aws-truepowers-solar-mapping-revenue.html?ana=thestreet

Copyright bizjournals.com 2010

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