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EuroSite Power books first revenue from United Kingdom operations

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EuroSite Power books first revenue from United Kingdom operations PR Newswire WALTHAM, Massachusetts, June 27, 2012 WALTHAM, Massachusetts, June 27, 2012 /PRNewswire/ -- EuroSite Power Inc.

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EuroSite Power books first revenue from
United Kingdom operations
PR Newswire
WALTHAM, Massachusetts, June 27, 2012
WALTHAM, Massachusetts
,
June 27, 2012
/PRNewswire/ -- EuroSite Power Inc.,
an OnSite Utility, offering clean electricity, heat, hot water and cooling solutions
to hospitality, healthcare, housing and leisure centers in the
United Kingdom
(UK) and
Europe
, today announced that it has booked its first revenue of
approximately
GBP 17,500
. The revenue follows completion of the initial
installation of the high efficiency gas engine heat pump system for Abbeycroft
Leisure at the Haverhill Leisure Centre in Suffolk.
"Booking our first revenue is a significant milestone for EuroSite Power," said
Barry Sanders, Chief Executive Officer of EuroSite Power. "As we continue to
install our existing orders and sell to new customers we look forward to growing
our revenue base."
Under the terms of the 15 year agreement with Abbeycroft Leisure the
Company will install and operate both the gas engine heat pump used to
provide air-conditioning to the leisure center's fitness suites and cafe plus a
Combined Heat and Power solution delivering clean electricity and hot water to
the facility. The revenue value of the agreement to the Company is
GBP 1.75
million
over the fifteen-year term.
On-Site Utility
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 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). Both companies supply low-cost energy to their 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 conventional
energy suppliers – without any capital or start-up costs to the energy user –
through its On-Site Utility energy solutions. EuroSite Power is based in Ealing,
West London
. More information can be found at www.eurositepower.co.uk.
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.