|Strong Growth for Allegro in 2011|
Allegro Development reports 50% increase in new customers and 62% increase in license revenue for ETRM software
DALLAS, TX, February 15, 2012 - Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced today its fiscal year 2011 business results, reporting strong revenue growth and a substantial increase in new customers.
Allegro realized double-digit growth across market regions, including a 62% year-over-year increase in software license revenues. The company also saw an expansion of its market adoption with a 50% year-over-year increase in the number of new customers, including Saudi Aramco, Capital Power, PAA Natural Gas Storage, EPIC Aviation, Green Plains, and numerous others in Europe, North America, and Asia Pacific regions. New customers were added in the petroleum, power and gas utilities, chemicals, and minerals sectors.
“Allegro’s strong growth in 2011 is particularly noteworthy given the on-going global economic challenges. Energy companies worldwide are turning to Allegro to help navigate these market uncertainties with Allegro’s top-ranked trading and risk management solutions,” said Eldon Klaassen, CEO of Allegro Development. “Allegro business partners, such as our system integration partners, also saw a significant expansion of their Allegro-related business in 2011.”
About Allegro Development
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 29 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.
For further information please contact Samantha Johnston at firstname.lastname@example.org or +188.8.131.5249.