Ameresco Reports Third Quarter 2010 Financial Results

Third Quarter 2010 Financial Highlights:

    --  Third quarter revenues increased 45% year-over-year to $191.9 million
    --  Third quarter net income increased 47% year-over-year to $12.0 million
    --  Net income per diluted share was $0.28 in the third quarter of 2010
        compared to $0.23 per diluted share in the third quarter of 2009

Nine Month Year-to-Date 2010 Performance:

    --  Nine month revenues increased 49% year-over-year to $438.9 million
    --  Nine month net income increased 103% year-over-year to $21.0 million
    --  Net income per diluted share was $0.53 for the first nine months of
        2010, a 79% increase over the $0.30 per diluted share earned during the
        same period in 2009

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc. (NYSE:AMRC) a leading energy efficiency and renewable energy company, today announced financial results for the quarter ended September 30, 2010. Ameresco had revenues of $191.9 million in the third quarter of 2010, compared to $132.3 million in the third quarter of 2009, an increase of 45%. Net income for the third quarter of 2010 was $12.0 million, compared to $8.2 million in the third quarter of 2009, an increase of 47%. Net income per diluted share was $0.28 in the third quarter of 2010, compared to $0.23 per diluted share in the same quarter of 2009. The third quarter 2009 results included non-recurring gains from derivative activity totaling $2.8 million. Excluding the effect of these items, the increase in net income from 2009 would have been 91%.

"Ameresco produced strong third quarter financial performance by effectively executing on our existing projects and continuing to successfully implement our 2010 business plan," said George Sakellaris, president and chief executive officer of Ameresco. "We made significant progress on many of our marquee projects. We continue to win business across North America, and this quarter won a bid with the U.S. Navy to improve energy efficiency for two of their facilities in Italy. We are pleased that demand for our solutions remains strong and that organizations are realizing the need for implementing energy efficiency and renewable energy solutions that produce financial as well as social returns."

Ameresco's third quarter results were driven by strong market demand for energy solutions, increased revenues, improved gross profit margins, particularly from renewable energy projects, and increased operating leverage.

For the nine months ended September 30, 2010, Ameresco reported total revenues of $438.9 million, compared to $295.1 million for the same period in 2009, an increase of 49%. Net income for the first nine months of 2010 was $21.0 million, or $0.53 per diluted share, compared with $10.3 million, or $0.30 per diluted share for the first nine months of 2009. Net income for the period increased 103%. Excluding the effects of the derivative activity noted above, the increase in net income would have been 149%.

Operating Highlights

    --  EBITDA for the third quarter of 2010 increased by 67% over the third
        quarter of 2009 to $24.4 million.
    --  EBITDA for the first nine months of 2010 increased 112% over the first
        nine months of 2009 to $44.1 million.
    --  Operating cash flows were $9.1 million for the third quarter of 2010.
    --  Total backlog of contracted, and awarded but not yet contracted,
        projects remains strong at $1.12 billion.

Some Key Highlights for Q3 2010

    --  Acquisition of Quantum Energy, Renton WA. On August 31, Ameresco
        acquired Quantum Engineering and Development, an ESCO that provides
        energy and water auditing, engineering, construction and commissioning
        services to public, commercial and industrial clients in the Western
        U.S. Since 1999, Quantum has delivered over $63 million in projects to
        public and private clients.
    --  Ninety-seven contracts were executed for the quarter with good
        representation across all regions. Some marquee initiatives include:

        o U.S. Navy facilities in Naples and Sigonella, Italy. Ameresco was
          awarded a $13.5 million ESPC for two US Navy locations. The ESPC is a
          mix of measures that includes energy efficient lighting, chillers and
          controls.
        o The Department of Veterans Affairs, Veterans Administration Medical
          Center (VAMC). Ameresco was awarded a $6.6 million contract to design
          and build a solar photovoltaic system for the VAMC in Salt Lake City,
          Utah. The roof top systems, ranging from 35 to 100 kW, will be
          installed on seven campus facilities, and the ground-mounted system is
          expected to generate approximately 550 kW once completed.
        o The U.S. Bureau of Land Management (BLM). BLM enlisted the AMERESCO
          AXIS(R) invoice and data management product to establish a Bureau-wide
          energy management information system to help reduce its energy costs,
          consumption, and carbon footprint in facilities throughout the Western
          U.S. This is the first Federal contract for AXIS, affording an
          opportunity to demonstrate its capabilities and value for this market
          that has some of the largest users of electricity in the country.
        o The Massachusetts State Department of Energy Resources (DOER).
          Ameresco worked with the MA DOER to sign agreements to design,
          construct, finance, own, and operate solar power systems on five state
          facilities--two Massport Logan Airport terminals, Bridgewater State
          College, Worcester State College and the Canton Housing Authority.
          Under 20-year Power Purchase Agreements (PPAs), the state facilities
          will receive solar-generated electricity at a discount to their
          current electricity bills, thereby cutting their energy budgets. These
          agreements are under the first of multiple phases of PPA projects,
          positioning Ameresco within communities for when they embrace and move
          towards PPAs.

Outlook

Ameresco expects that for the year ending December 31, 2010, it will earn total revenues in the range of $585 million to $595 million, EBITDA will be in the range of $55 million to $57 million, and net income will be in the range of $27 million to $28 million. The company also expects that net income per diluted share for 2010 will be in the range of $0.65 to $0.68.

Webcast Reminder

Ameresco will hold its earnings conference call today, October 29, at 10:30 a.m. Eastern Time with President and CEO, George Sakellaris, and Vice President and Chief Financial Officer, Andrew Spence, to discuss details regarding the company's third quarter 2010 results, business outlook and strategy. Participants may access it by dialing domestically (888) 713-4209 or internationally (617) 213-4863. The passcode is 86670561. Those who wish to listen only to the conference call webcast may visit the "Investor Relations" section of the Company's website at www.ameresco.com. Participants are advised to dial-in at least ten minutes prior to the call to register.

Pre-Registration for the call is available at: https://cossprereg.btci.com/prereg/key.process?key=PGL4K9YVW

Pre-registrants will be issued a pin number to use when dialing into the live call which will provide quick access to the conference by bypassing the operator upon connection.

The webcast will be available on the Company's website shortly after the call.

Use of Non-GAAP Financial Measures

This press release and the accompanying tables reflect EBITDA, which is a non-GAAP financial measure. For a description of this non-GAAP financial measure, including the reasons management uses this measure and a reconciliation of EBITDA to operating income, the most directly comparable financial measure prepared in accordance with GAAP; please see the section of the accompanying tables titled "Non-GAAP Financial Measures" in Exhibit A.

About Ameresco, Inc.

Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency and renewable energy solutions for facilities throughout North America. Ameresco's solutions include upgrades to a facility's energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 55 offices in 29 states and four Canadian provinces. For more information, visit www.ameresco.com.

Safe Harbor Statement

Any statements in this press release about future expectations, plans and prospects for Ameresco, Inc., including statements about backlog, estimated future revenues and projects, as well as other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including demand for our energy efficiency and renewable energy solutions; our ability to arrange financing our projects; changes in federal, state and local government policies and programs related to energy efficiency and renewable energy; the timing of work we do on projects where we recognize revenue on a percentage of completion basis; seasonality in construction and in demand for our products and services; a customer's decision to delay our work on, or other risks involved with, a particular project; availability and costs of labor and equipment the addition of new customers or the loss of existing customers; and other factors discussed in Ameresco's Quarterly Report on Form 10-Q, filed with the U.S. Securities and Exchange Commission on September 7, 2010. In addition, the forward-looking statements included in this press release represent Ameresco's views as of the date of this press release. Ameresco anticipates that subsequent events and developments will cause its views to change. However, while Ameresco may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Ameresco's views as of any date subsequent to the date of this press release.


AMERESCO, INC.

CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2009 AND SEPTEMBER 30, 2010

                                               2009             2010

                                                                (Unaudited)

ASSETS

Current assets:

Cash and cash equivalents                      $ 47,927,540     $ 29,266,001

Restricted cash                                  9,249,885        10,617,362

Accounts receivable, net                         61,279,515       91,905,734

Accounts receivable retainage                    9,242,288        17,337,445

Costs and estimated earnings in excess of        14,009,076       32,724,457
billings

Inventory, net                                   4,237,909        5,309,177

Prepaid expenses and other current assets        8,077,761        13,649,918

Deferred income taxes                            9,279,473        10,819,900

Project development costs                        8,468,974        9,266,798

Total current assets                             171,772,421      220,896,792

Federal ESPC receivable financing                51,397,347       161,920,078

Property and equipment, net                      4,373,256        4,661,471

Project assets, net                              117,637,990      134,995,537

Deferred financing fees, net                     3,582,560        3,431,442

Goodwill                                         16,132,429       18,460,564

Other assets                                     10,648,605       4,144,324

                                                 203,772,187      327,613,416

                                               $ 375,544,608    $ 548,510,208

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Current portion of long-term debt              $ 8,093,016      $ 4,932,771

Accounts payable                                 75,578,378       94,671,536

Accrued liabilities                              18,362,674       13,361,057

Billings in excess of cost and estimated         28,166,364       30,870,614
earnings

Income taxes payable                             2,129,529        2,808,209

Total current liabilities                        132,329,961      146,644,187

Long-term debt:

Long-term debt, less current portion             102,807,203      180,663,431

Subordinated debt                                2,998,750        -

Deferred income taxes                            11,901,645       11,901,645

Deferred grant income                            4,158,508        3,995,058

Other liabilities                                18,578,754       23,042,218

                                                 140,444,860      219,602,352

Stockholders' equity:

Series A convertible preferred stock, $0.0001
par value, 3,500,000 shares authorized,
3,210,000 shares issued and outstanding at       321              -
12/31/2009, no shares issued and outstanding
at
9/30/2010

Preferred stock, $0.0001 par value, 5,000,000
shares authorized, no shares issued and          -                -
outstanding at 12/31/2009 and 9/30/2010

Common stock, $0.0001 par value, 60,000,000
shares authorized, 17,998,168 shares
issued and 13,282,284 outstanding at             1,800            -
12/31/2009, no shares issued and outstanding
at 9/30/2010

Class A common stock, $0.0001 par value,
500,000,000 shares authorized, no shares
issued and                                       -                2,792
outstanding at 12/31/2009, 27,919,449 shares
issued and 23,086,165
shares outstanding at 9/30/2010

Class B common stock, $0.0001 par value,
144,000,000 shares authorized, no shares
issued and outstanding at 12/31/2009,            -                1,800
18,000,000 shares issued and outstanding
at 9/30/2010

Additional paid-in capital                       10,466,312       71,308,330

Retained earnings                                97,882,985       118,909,218

Accumulated other comprehensive income           2,831,970        1,224,100

Less - treasury stock, at cost, 4,715,884        (8,413,601  )    (9,182,571  )
shares and 4,833,284 shares, respectively

Total stockholders' equity                       102,769,787      182,263,669

                                               $ 375,544,608    $ 548,510,208




AMERESCO, INC.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2009 AND 2010

                                            Three Months Ended September 30,

                                            2009               2010

                                            (Unaudited)

Revenue:

Energy efficiency revenue                   $ 106,803,997      $ 147,863,350

Renewable energy revenue                      25,490,418         44,038,079

                                              132,294,415        191,901,429

Direct expenses:

Energy efficiency expenses                    88,714,827         121,906,348

Renewable energy expenses                     19,662,420         35,114,345

                                              108,377,247        157,020,693

Gross profit                                  23,917,168         34,880,736

Operating expenses:

Salaries and benefits                         7,364,786          8,409,014

Project development costs                     1,267,986          2,716,616

General, administrative and other             3,708,122          4,841,508

                                              12,340,894         15,967,138

Operating income                              11,576,274         18,913,598

Other income (expenses), net                  924,031            (2,010,030    )

Income before provision for income taxes      12,500,305         16,903,568

Income tax provision                          4,305,830          4,862,651

Net income                                    8,194,475          12,040,917

Other comprehensive income (loss):

Unrealized loss from interest rate hedge,     -                  (746,087      )
net of tax

Foreign currency translation adjustment       3,530,723          879,842

Comprehensive income (loss)                 $ 11,725,198       $ 12,174,672

Net income per share attributable to
common shareholders:

Basic                                       $ 0.86             $ 0.35

Diluted                                     $ 0.23             $ 0.28

Weighted average common shares
outstanding:

Basic                                         9,559,545          34,434,352

Diluted                                       35,625,835         43,445,391

OTHER NON-GAAP DISCLOSURES

Gross margins:

Energy efficiency revenue                     16.9          %    17.6          %

Renewable energy revenue                      22.9          %    20.3          %

Total                                         18.1          %    18.2          %

Operating expenses as a percent of revenue    9.3           %    8.3           %

Earnings before interest, taxes,
depreciation and amortization (EBITDA):

Operating income                            $ 11,576,274       $ 18,913,598

Depreciation and impairment                   2,376,444          4,796,020

Stock-based compensation                      611,414            651,352

EBITDA                                      $ 14,564,132       $ 24,360,970

EBITDA margin                                 11.0          %    12.7          %

Construction backlog:

Awarded                                     $ 733,646,495      $ 530,572,308

Fully-contracted                              379,997,559        592,745,083

Total construction backlog                  $ 1,113,644,054    $ 1,123,317,391

Note: Awarded represents estimated future revenues from projects that have been
awarded, though the contracts have not yet been signed.




AMERESCO, INC.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009 AND 2010

                                               Nine Months Ended September 30,

                                               2009             2010

                                               (Unaudited)

Revenue:

Energy efficiency revenue                      $ 241,290,308    $ 323,578,578

Renewable energy revenue                         53,848,666       115,305,944

                                                 295,138,974      438,884,522

Direct expenses:

Energy efficiency expenses                       199,585,426      267,495,450

Renewable energy expenses                        42,597,466       91,955,471

                                                 242,182,892      359,450,921

Gross profit                                     52,956,082       79,433,601

Operating expenses:

Salaries and benefits                            18,817,921       21,893,756

Project development costs                        6,862,982        7,893,558

General, administrative and other                13,261,611       16,156,553

                                                 38,942,514       45,943,867

Operating income                                 14,013,568       33,489,734

Other income (expenses), net                     1,512,388        (4,082,417  )

Income before provision for income taxes         15,525,956       29,407,317

Income tax provision                             5,193,123        8,381,084

Net income                                       10,332,833       21,026,233

Other comprehensive income (loss):

Unrealized loss from interest rate hedge, net    -                (2,297,667  )
of tax

Foreign currency translation adjustment          3,269,613        689,797

Comprehensive income                           $ 13,602,446     $ 19,418,363

Net income per share attributable to common
shareholders:

Basic                                          $ 1.08           $ 1.02

Diluted                                        $ 0.30           $ 0.53

Weighted average common shares outstanding:

Basic                                            9,576,548        20,563,849

Diluted                                          34,812,967       39,513,507

OTHER NON-GAAP DISCLOSURES

Gross Margins:

Energy efficiency revenue                        17.3        %    17.3        %

Renewable energy revenue                         20.9        %    20.3        %

Total                                            17.9        %    18.1        %

Operating expenses as a percent of revenue       13.2        %    10.5        %

Earnings before interest, taxes, depreciation
and amortization (EBITDA):

Operating income                               $ 14,013,568     $ 33,489,734

Depreciation and impairment                      4,962,352        8,858,264

Stock-based compensation                         1,844,400        1,758,503

EBITDA                                         $ 20,820,320     $ 44,106,501

EBITDA margin                                    7.1         %    10.0        %




AMERESCO, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2009 AND 2010

                                                Three Months Ended September 30,

                                                2009             2010

                                                (Unaudited)

Cash flows from operating activities:

Net income                                      $ 8,194,525      $ 12,040,917

Adjustment to reconcile net income to cash
provided by investing activities:

Depreciation of project assets                    1,876,182        4,206,992

Depreciation of property and equipment            500,262          589,029

Amortization of deferred financing fees           59,016           306,398

Write-down of long-term receivable                -                -

Unrealized gain on interest rate swaps            (354,326    )    -

Stock-based compensation expense                  611,414          651,352

Deferred income taxes                             (314,885    )    792,193

Changes in operating assets and liabilities:

(Increase) decrease in:

Restricted cash draws                             13,677,494       53,185,373

Accounts receivable                               (12,650,473 )    (21,103,490 )

Accounts receivable retainage                     (2,875,973  )    (5,204,217  )

Federal ESPC receivable financing                 (18,759,514 )    (51,833,048 )

Inventory                                         1,371,016        23,790

Costs and estimated earnings in excess of         2,411,481        (8,859,603  )
billings

Prepaid expenses and other current assets         (845,316    )    (1,817,278  )

Project development costs                         (1,256,091  )    (872,942    )

Other assets                                      88,416           4,560,707

Increase (decrease) in:

Accounts payable and accrued expenses             14,543,943       25,940,748

Billings in excess of cost and estimated          10,110,040       (1,341,379  )
earnings

Other liabilities                                 4,044,968        337,826

Income taxes payable                              2,668,299        (2,541,814  )

Net cash provided by operating activities         23,100,478       9,061,554

Cash flows from investing activities:

Purchases of property and equipment               (508,466    )    (877,781    )

Purchases of project assets                       2,341,325        (12,415,691 )

Acquisitions, net of cash received                (674,110    )    (6,138,941  )

Net cash provided by (used in) investing          1,158,749        (19,432,413 )
activities

Cash flows from financing activities:

Payments of financing fees                        (9,842      )    (402,625    )

Proceeds from options and warrant exercises       -                59,649,893
and issuance of stock

Repurchase of stock                               -                -

Proceeds from (payments on) senior secured        (15,062,033 )    (31,351,119 )
credit facility

Proceeds from long-term debt financing            1,352,559        -

Restricted cash                                   (3,771,371  )    (1,137,175  )

Repayment of subordinated debt                    -                (2,998,750  )

Payments on long-term debt                        (1,178,396  )    (5,755,902  )

Net cash (used in) provided by financing          (18,669,083 )    18,004,322
activities

Effect of exchange rate changes on cash           1,021,999        498,142

Net increase in cash and cash equivalents         6,612,143        8,131,605

Cash and cash equivalents, beginning of period    8,855,402        21,134,396

Cash and cash equivalents, end of period        $ 15,467,545     $ 29,266,001




AMERESCO, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2009 AND 2010

                                               Nine Months Ended September 30,

                                               2009             2010

                                               (Unaudited)

Cash flows from operating activities:

Net income                                     $ 10,332,833     $ 21,026,233

Adjustment to reconcile net income to cash
provided by investing activities:

Depreciation of project assets                   3,928,979        7,623,850

Depreciation of property and equipment           1,033,373        1,234,415

Amortization of deferred financing fees          161,662          474,403

Provision for bad debts                          327,558          -

Write-down of long-term receivable               -                2,111,000

Unrealized gain (loss) on interest rate swaps    1,634,619        (133,591     )

Stock-based compensation expense                 1,844,400        1,758,503

Deferred income taxes                            418,256          -

Changes in operating assets and liabilities:

(Increase) decrease in:

Restricted cash draws                            21,612,096       108,936,357

Accounts receivable                              (21,059,142 )    (24,037,153  )

Accounts receivable retainage                    (1,353,728  )    (7,491,725   )

Federal ESPC receivable financing                (27,056,209 )    (110,522,731 )

Inventory                                        1,679,369        (1,071,268   )

Costs and estimated earnings in excess of        (9,709,704  )    (16,660,465  )
billings

Prepaid expenses and other current assets        (2,463,756  )    (5,518,403   )

Project development costs                        (2,899,742  )    (790,904     )

Other assets                                     6,207,159        6,582,019

Increase (decrease) in:

Accounts payable and accrued expenses            4,423,091        6,749,903

Billings in excess of cost and estimated         12,101,951       2,311,175
earnings

Other liabilities                                (5,315,700  )    1,969,263

Income taxes payable                             1,060,602        (946,361     )

Net cash used in operating activities            (3,092,033  )    (6,395,480   )

Cash flows from investing activities:

Purchases of property and equipment              (1,430,604  )    (1,361,876   )

Purchases of project assets                      (14,587,244 )    (24,783,062  )

Acquisitions, net of cash received               (674,110    )    (6,138,941   )

Net cash used in investing activities            (16,691,958 )    (32,283,879  )

Cash flows from financing activities:

Payments of financing fees                       (79,905     )    (1,300,058   )

Proceeds from options and warrant exercises      -                60,062,759
and issuance of stock

Repurchase of stock                              (874,948    )    (768,970     )

Proceeds from (payments on) senior secured       (4,449,242  )    (19,915,218  )
credit facility

Proceeds from long-term debt financing           28,074,858       812,398

Restricted cash                                  (5,054,245  )    (5,956,433   )

Repayment of subordinated debt                   -                (2,998,750   )

Payments on long-term debt                       (2,626,925  )    (10,548,598  )

Net cash provided by financing activities        14,989,593       19,387,130

Effect of exchange rate changes on cash          2,112,798        630,690

Net decrease in cash and cash equivalents        (2,681,600  )    (18,661,539  )

Cash and cash equivalents, beginning of year     18,149,145       47,927,540

Cash and cash equivalents, end of period       $ 15,467,545     $ 29,266,001



Exhibit A: Non-GAAP Financial Measures

Ameresco defines EBITDA as operating income before depreciation and impairment expense and share-based compensation expense. EBITDA is a non-GAAP financial measure and should not be considered as an alternative to operating income or any other measure of financial performance calculated and presented in accordance with GAAP.

The Company believes EBITDA is useful to investors in evaluating its operating performance for the following reasons: EBITDA and similar non-GAAP measures are widely used by investors to measure a company's operating performance without regard to items that can vary substantially from company to company depending upon financing and accounting methods, book values of assets, capital structures and the methods by which assets were acquired; securities analysts often use EBITDA and similar non-GAAP measures as supplemental measures to evaluate the overall operating performance of companies; and by comparing our EBITDA in different historical periods, our investors can evaluate our operating results without the additional variations of depreciation and amortization expense, and share-based compensation expense.

Ameresco's management uses EBITDA: as a measure of operating performance, because it does not include the impact of items that management does not consider indicative of our core operating performance; for planning purposes, including the preparation of the annual operating budget; to allocate resources to enhance the financial performance of the business; to evaluate the effectiveness of Ameresco's business strategies; and in communications with the board of directors and investors concerning Ameresco's financial performance.

The Company understands that, although measures similar to EBITDA are frequently used by investors and securities analysts in their evaluation of companies, EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for GAAP operating income or an analysis of Ameresco's results of operations as reported under GAAP. Some of these limitations are: EBITDA does not reflect the Company's cash expenditures or future requirements for capital expenditures or other contractual commitments; EBITDA does not reflect changes in, or cash requirements for, Ameresco's working capital needs; EBITDA does not reflect stock-based compensation expense; EBITDA does not reflect cash requirements for income taxes; EBITDA does not reflect net interest income (expense); although depreciation, amortization and impairment are non-cash charges, the assets being depreciated, amortized or impaired will often have to be replaced in the future, and EBITDA does not reflect any cash requirements for these replacements; and other companies in Ameresco's industry may calculate EBITDA differently than we do, limiting its usefulness as a comparative measure.

To properly and prudently evaluate Ameresco's business, we encourage you to review our GAAP financial statements included above, and not to rely on any single financial measure to evaluate the business. Please refer to the above reconciliation of EBITDA to operating income, the most comparable GAAP measure.


    Source: Ameresco, Inc.