WALTHAM, Mass. – April 1, 2015 – EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, is now operating a 100 kW combined heat and power (CHP) system at The Haven Hotel, Poole, UK.
The CHP system now operating at The Haven Hotel is the second of two systems installed for FJB Hotels under two agreements worth approximately £3.78 (US$6.26) million that EuroSite Power announced last year. Under the terms of the 15 year agreements, highly efficient CHP systems have been installed and are now being operated by EuroSite Power at FJB Hotel’s Sandbanks Hotel and The Haven Hotel, Poole. The hotels are now buying efficient energy produced by the systems from EuroSite Power at a rate guaranteed to be lower than if the hotels were to still be buying directly from the grid.
The CHP system at The Haven Hotel will produce up to 1,733,866 kWh of total energy per annum, while saving up to 246 tonnes of CO2 – equivalent to taking 52 cars off the road each year. EuroSite’s portfolio of 33 contracted UK systems now has a value to the company of £53.1(US$79.69) million from units totalling 3,340 kW electrical capacity.
The Haven Hotel in Poole is on the very tip of the Sandbanks peninsula at the entrance of Poole Harbour. With 84 guest rooms furnished and equipped to four-star standard, facilities include a spa with a wide range of beauty, aromatherapy and therapeutic treatments, gym, indoor sauna, steam room and outdoor hot tub, indoor hydrotherapy pool with three spa pools and swim-fit spa, heated outdoor swimming pool, all-weather floodlit tennis court and aerobic studio.
FJB Hotels is part of the FJB Collection which owns and operates a number of hotels with associated bars, restaurants, spas and leisure complexes.
Paul Hamblyn, Managing Director of EuroSite Power, said: “Our operational fleet totals 24 systems now that the unit at The Haven Hotel has been successfully commissioned.”
FJB Hotels Managing Director John Butterworth said: “We are very pleased that the second of the two systems is operating. Keeping operating costs under control is vital to providing the very best value to our customers. With nothing to pay upfront we have started saving on our energy bills from the moment each unit was switched on.”
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™ solution 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 MKT: ADGE). The Company provides 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. 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.