WALTHAM, Mass., Sept. 19, 2014 /PRNewswire/ -- American DG Energy Inc. (NYSE MKT: ADGE), a leading On‑Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, announced effective immediately, the Board of Directors has authorized American DG Energy's management to buy back up to 1,000,000 shares of its stock on the open market.
The stock buyback will be funded from available working capital funds and the repurchased stock will be held in treasury.
About American DG Energy
American DG Energy supplies low-cost energy to its 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 local utilities – without any capital or start-up costs to the energy user – through its On-Site Utility energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. Learn more about how American DG Energy (NYSE MKT: ADGE) reduces energy costs at www.americandg.com or follow us on Facebook and Twitter.
This press release may contain forward-looking statements. All statements, other than statements of historical facts, including statements regarding American DG Energy's stock buy-back program, are forward-looking statements. You should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties and other factors that are, in some cases, beyond American DG Energy' control. Factors that could materially affect actual results can be found in American DG Energy' filings with the U.S. Securities and Exchange Commission. American DG Energy undertakes no obligation to update publicly, except to the extent required by law, any forward-looking statements for any reason after the date the American DG Energy issues this press release to conform these statements to actual results or to changes in the American DG Energy's expectations.
SOURCE American DG Energy Inc.