WALTHAM, Mass. – April 09, 2015 – EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centres in the United Kingdom (UK) and Europe, is now operating a combined heat and power (CHP) system at the Menzies Cambridge hotel owned by Topland Group.
The 125kW unit now operating at Menzies Cambridge is the third to go live from a seven-hotel contract signed in April 2014 and is expected to save the hotel around £16,800 (US $26,880) and 305 tonnes of CO2 per annum – equivalent to taking 64 cars off the road each year.
Under the terms of the 15 year agreement reached with hotel owners Topland Group, a total of 860 kW from seven modules of highly efficient combined heat and power (CHP) systems are being installed, owned and operated by EuroSite Power at seven of Topland’s UK hotels – Aberdeen, Bournemouth, Cambridge, Derby, Glasgow, Irvine and Stratford upon Avon.
Paul Hamblyn, Managing Director of EuroSite Power, said: “We now have 25 systems in operation at 23 sites across the UK. With a total capacity of 2,406 kW (electrical), 14,993 MBH (thermal) and 25 tons (cooling), together these sites have a total contract value of around £43.4 million (US $69.4 million). We also currently have further 9 systems already under contract and in design and construction. With the addition of Menzies Cambridge to our fleet, daily electricity generation by EuroSite Power passed the 35,000kWh threshold for the first time on 1 April.”
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.