MILTON, Mass., March 16 /PRNewswire-FirstCall/ -- American DG Energy Inc., (NYSE Amex: ADGE) a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, is now producing energy at Fuller Village, an independent living community for seniors. The Company estimates the total revenue from this project to be $1.2 million over the fifteen-year agreement.
With its on-site energy solution, American DG Energy produces clean, low cost energy in the form of electricity and space heating at Fuller Village and sells it to the independent living community at a price lower than the local energy utility. Fuller Village pays only for the energy they use and avoids all capital, installation, operation and maintenance costs. The energy is produced with small-scale, combined heat and power (CHP) equipment located at the property site but owned and operated by American DG Energy. Since American DG Energy owns the equipment, Fuller Village does not need any manpower to support the energy equipment.
As an added benefit, the on-site energy system installed at Fuller Village will reduce its greenhouse gas emissions by 244 tons of carbon dioxide each year, the equivalent of planting 67 acres of trees or eliminating the emissions of 42 cars.
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. More information can be found at www.americandg.com.
FORWARD-LOOKING STATEMENTS
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.