BidEnergy Acquires RealWinWin

Deal Brings New Energy Efficiency Accounting Capabilities to BidEnergy's Source-to-Pay Automation Platform

Platform Helps CFOs Manage Last Spend Category "Hiding in Plain Sight," Prepare for New Era of Carbon Reporting and Governance

CONCORD, Mass. and PHILADELPHIA, Nov. 28, 2016 (GLOBE NEWSWIRE) -- BidEnergy Limited (ASX:BID), the global leader in energy accounting automation solutions, today announced its US subsidiary, BidEnergy, Inc. has acquired RealWinWin, Inc., a specialist in energy-efficiency rebate administration. RealWinWin has a roster of name-brand, national multi-site customers who are in the sweet spot of BidEnergy's target market and provides a third leg of an emerging suite of energy management software aimed at the Finance, Procurement, Energy and Facilities departments of corporations with hundreds of facilities. Adding rebate administration to augment its Source-to-Pay platform, BidEnergy now has a unique capability to minimize the costs of energy and the complexity of managing the execution of its energy and facilities strategy across every service territory in the U.S.

With BidEnergy, CFOs, procurement teams, and category managers gain visibility and control over their energy spend with a centralized, scalable solution that is fully automated. As an added benefit, the platform enables large multi-site, multi-state organizations to view, manage and report on carbon emissions to meet emerging SASB standards and shareholder demand for environmental transparency.

"It's not surprising how few CFOs exercise influence on the amount their companies spend on energy: traditional category management software has been unable to handle the scope complexity and regulatory nuance of energy, leaving a significant profit opportunity hiding in plain sight," said Phil Adams, CEO, BidEnergy U.S. Inc. "BidEnergy's platform puts that control in the CFO's hands. Bolstered by today's acquisition of RealWinWin, our source-to-pay platform is rapidly evolving into the industry's first comprehensive energy accounting solution.