WALTHAM, Massachusetts, May 16, 2016 /PRNewswire/ -- EuroSite Power Inc. (OTCQX: EUSP, the "Company"), 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, announced today that John N. Hatsopoulos has stepped down as Chairman and resigned from the board of directors, effective immediately.
Commenting on his decision, Mr. Hatsopoulos said, "I have been with EuroSite Power since the company was founded and it has been wonderful to guide the Company's success and initial phase of growth. With the new funding announced last week and the strong progress the management team is making with the roll out of the On-Site Utility business model, the Company is well positioned for the future. I wish the team at EuroSite Power the best of luck and look forward to hearing more about their progress as I take my place among their dedicated base of long-term shareholders."
The Board of Directors has appointed Elias Samaras, EuroSite Power Chief Executive Officer, as interim member of the board of directors and board Chair.
EuroSite Power will hold its first quarter earnings conference call today at 9:00 a.m. Eastern Time to discuss the Company's first quarter financial performance and recent events. The conference call will be available live via telephone and webcast. To listen to the audio portion, dial toll free (844) 492-3726 within the U.S., toll free (855) 669-9657 from Canada, or +1 (412) 542-4187 from other international locations. Participants should ask to be joined to the EuroSite Power earnings call. Please begin dialling at least 10 minutes prior to the scheduled starting time. Alternately, to register for and listen to the live event via webcast, please go to http://investors.eurositepower.co.uk/events.
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 Inc. 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 On-Site Utility energy solutions. For more information about our unique efficient power solutions please visit www.eurositepower.co.uk and follow us on Twitter and LinkedIn.
SOURCE EuroSite Power Inc.