EuroSite Power to Provide Clean Energy Solution at Haverhill Leisure Centre
On-Site Utility Solution to include Air Conditioning System
LONDON, May 14, 2012 /PRNewswire/ -- EuroSite Power Limited (www.eurositepower.co.uk), an On‑Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the United Kingdom and Europe, today announced that it has agreed with Abbeycroft Leisure to supply clean energy, heating and cooling, to the Haverhill Leisure Centre in Suffolk.
Under the terms of the fifteen-year agreement, the Company will install and operate a high efficiency energy system and associated indoor units to provide air-conditioning to a number of the leisure centre's fitness suites and its cafe area. The unit will produce up to 70 kW of either heating or cooling for the areas served plus an additional 22kW of hot water to help heat the centre's training pool. The system will complement the Combined Heat and Power system also provided by EuroSite Power under a previous agreement. The total value of the Abbeycroft Leisure account to the Company rises to pounds Sterling 1.75 million.
Commenting on the decision to award the contract to EuroSite Power, Simon Ginders-Coxall, Abbeycroft Leisure's General Manager said "Among other factors we were impressed that EuroSite Power finances the equipment – including its installation and ongoing maintenance - which provides a trouble free solution and takes all the risk out of meeting our future energy needs."
"By securing this contract with Abbeycroft Leisure we are extending our clean energy solutions to include cooling alongside both heat and power," commented Paul Hamblyn, Managing Director of EuroSite Power. "2012 has now seen EuroSite Power book an estimated 8.4 MWh of total energy per year for an approximate total revenue value of pounds Sterling 16.75 million over the term of the contracts and interest in our On-Site Utility solutions continues to grow across both the UK and Europe."
EuroSite Power will produce clean energy in the form of heating and cooling for the centre at a price lower than Abbeycroft Leisure's current and future energy suppliers. Because the Leisure Trust opted for the Company's On-Site Utility solution, the centre will pay only for the energy used and will avoid all capital, installation and operating costs. The Company will also handle all service, maintenance and repair; therefore, Abbeycroft Leisure will not need to provide manpower to support the energy equipment.
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.
About EuroSite Power
EuroSite Power Limited is a subsidiary of American DG Energy Inc. (NYSE Amex: ADGE). Both companies supply low-cost energy to their customers through distributed power generating systems. The Company is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers – without any capital or start-up costs to the energy user – through its On-Site Utility energy solutions. EuroSite Power is based in Ealing, West London. More information can be found at www.eurositepower.co.uk.
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and in Securities and Exchange Commission filings. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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