EuroSite Power to Supply Clean Energy to the World Famous Wentworth Club

Informations

• Publié par: american-dg-energy
• Nombre de lectures: 14
• Langue: English

Extrait

EuroSite Power to Supply Clean Energy to the World Famous Wentworth Club

PR Newswire WALTHAM, Massachusetts, Sept. 13, 2012

WALTHAM, Massachusetts,Sept. 13, 2012/PRNewswire/ -- EuroSite Power Inc., an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in theUnited Kingdom(UK) andEurope, today announced that it has reached an agreement to supply clean energy to the world famous Wentworth Club in theUnited Kingdom. The potential revenue value of the agreement to EuroSite Power is pounds Sterling 1.75 million over the fifteen-year term. Under the terms of agreement, the Company will install and operate a combined heat and power (CHP) system at the Club's Tennis & Health Club, which will produce up to 100 kW of power or approximately 1.5 MWh of total energy per annum, while saving up to 224 tonnes of CO2. Providing good quality CHP is supported by the UK government and the impact of the Climate Change Levy will be greatly reduced. The system will also be replacing existing standby generation at the Tennis & Health Club. Wentworth Club will receive a discount on the energy produced by the CHP system and reduce its carbon emissions from the property. "In 2012, EuroSite Power has now booked an estimated 11 GWh of total energy per year for a potential total revenue value of approximately pounds Sterling 19.8 million over the term of the contracts," said Paul Hamblyn, Managing Director of EuroSite Power. "We are very excited that more and more customers are recognizing the value of our standard On-Site Utility solution and I am delighted to welcome Wentworth Club to our growing family of customers." EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for Wentworth Club's Tennis & Health Club at a price lower than the Club's current energy supplier. Because Wentworth Club opted for the Company's On-Site Utility solution, the club will pay only for the energy used and will avoid all capital, installation and operating costs. The Company will also handle all service, maintenance and repair, eliminating the need to provide manpower to support the energy equipment. Founded in 1926, Wentworth Club is a privately owned golf and country club in Virginia Water,Surrey, Near Windsor Castle; it is surrounded by the Wentworth Estate – one of the most prestigious estates on the outskirts ofLondon. Widely known for its associations with tournament golf, the headquarters of the PGA European Tour are located at the Club and each year it hosts the Tour's flagship BMW PGA Championship. Following the deal, the Club is also considering EuroSite Power to provide further savings to its Clubhouse. 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 auaranteed discount rate on therice of the ener. All sstem

capital, installation, operating expenses and support are paid by EuroSite Power. About EuroSite Power EuroSite Power Inc. 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. About Wentworth Club Wentworth is one of the world's finest golf and country clubs renowned for its tournament history and the excellent quality of the sports facilities and clubhouse. It hosted the World Match Play Championship from 1964 to 2007 and was home to the Ryder Cup in 1953. The West Course, currently home to the European Tour's flagship BMW PGA Championship, recently underwent a £6.5 million modernization program. The Club is an oasis less than an hour from centralLondon, boasting the famous castellated clubhouse, three championship courses, a Tennis & Health Club, an active social calendar and west-end style dining in The Grill inspired by The Ivy and Le Caprice. Wentworth is a members club for the family, where everyone will benefit from the excellent quality of the wide ranging facilities, coaching, exceptional dining and social life. More information can be found at www.wentworthclub.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.