WALTHAM, Mass., Aug. 20, 2015 /PRNewswire/ -- American DG Energy Inc. (NYSE MKT: ADGE), On‑Site Utility™, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, today announced, Bonnie Brown will be joining the Company as Chief Financial Officer effective September 2, 2015. In addition, the Board of Directors has appointed Robert Panora as acting Director of Operations for American DG Energy, effective immediately. Mr. Panora will retain his responsibilities as President and Chief Operating Officer of Tecogen Inc.
Bonnie Brown is a senior level executive with over 20 years of hands-on experience in finance, management, tax, information systems and business leadership, Ms. Brown brings a depth of knowledge to American DG Energy at a crucial phase in the company's development. She earned a B.S. in Accountancy from Bentley College, a M.S. in Computer Information Systems from Boston University, and is a Chartered Public Accountant (CPA).
"While we are deeply saddened by the recent passing of former Chief Financial Officer Gabriel Parmese, the incredible contributions he made to American DG Energy will not be forgotten" said John Hatsopoulous, Co-CEO. "I am confident that Ms. Brown will continue Gabriel's efforts and am excited to work with her again as we embark on a new phase of growth at the Company."
Robert Panora brings over 27 years of experience at Tecogen where he has been responsible for sales and marketing, engineering, service, and manufacturing. Mr. Panora contributed to the development of Tecogen's first product, the CM-60 cogeneration module, and was Program Manager for the cogeneration and chiller projects that followed. He has B.S. and M.S. degrees in Chemical Engineering from Tufts University.
"We are very fortunate to have Mr. Panora join us on an interim basis to help with operations at American DG Energy" said Benjamin Locke, Co-CEO. "Bob's operational experience will help us reach our goals to maximize our fleet performance and ensure our project backlog is installed with the best engineering practices."
American DG Energy sells the energy produced from an On-Site 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 and operating expenses are paid by American DG Energy.
About American DG Energy
American DG Energy supplies low-cost energy to its customers through distributed power generating systems. We are 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 our On-Site Utility™ energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. Learn more about how American DG Energy reduces energy costs at www.americandg.com or follow us on Facebook and Twitter.
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.
SOURCE American DG Energy Inc.