- Health Club chain signs new contract and enjoys more savings as another site becomes operational
WALTHAM, Massachusetts, May 28, 2013 /PRNewswire/ -- EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the United Kingdom (UK) and Europe, announced that it has signed a new contract to supply a combined heat and power (CHP) system to the Roko Health Club site in York, UK and is also now operating its CHP system supplying clean energy to the Roko Health Club in Nottingham, UK.
Under the new agreement EuroSite Power will install and operate a CHP system at the club's site in the medieval city of York. This brings the total number of systems under contract with Roko to five with York joining sites at Chiswick, Gillingham, Nottingham and Portsmouth in enjoying the benefit of guaranteed low price, low carbon energy. Because Roko opted for EuroSite Power's On-Site Utility solution, the club will pay only for the energy used and will avoid all capital, installation and operating costs. EuroSite Power will also handle all service, maintenance and repair, meaning the clubs will not need to provide manpower to support the energy equipment. The system supplies electricity to the club together with heat and hot water to serve both the club and its indoor and outdoor swimming pools.
The York installation will produce 558,450 kWh of electricity or approximately 1.3 GWh of total energy per annum, while saving up to 123 tonnes of CO2 each year. With a total revenue value of approximately 1.37 million GBP over the term of the 15 year agreement the contract for York means that EuroSite Power now has agreements in place for all the clubs operated under the Roko brand.
Paul Hamblyn, Managing Director of EuroSite Power said: "Leisure centres and health clubs remain an important part of our growth strategy, within the UK market. We strive hard to deliver high quality solutions that deliver good results and the fact that Roko have decided to add another site to their contract speaks volumes."
Neil Stanton, Roko Health Clubs' Operations Director, said: "We are delighted to have our third system operating. Both our sites in Gillingham and Portsmouth have already begun enjoying savings and we now look forward to seeing similar results at Nottingham. By adding York we have now ensured all our clubs will see a material reduction in both annual energy bills and CO2 emission and all without the need for any capital outlay for Roko Health Clubs."
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). 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. EuroSite Power is based in Ealing, West London. 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.
SOURCE EuroSite Power Inc.