EuroSite Power Limited ("EuroSite Power" or "The Company"); Exciting New On-Site Utility to Launch in the UK
LONDON, August 30, 2011 /PRNewswire/ --
- Appoints Paul Hamblyn as Managing Director
EuroSite Power Limited (http://www.eurositepower.co.uk) a subsidiary of NYSE Amex-listed American DG Energy Inc. is to launch in the UK. It plans to revolutionise the UK small-scale combined heating and power (CHP) market with its On-Site Utility service, importantly, delivering cost savings to customers without the responsibility of capital investment.
EuroSite Power's On-Site Utility solution will enable customers to generate and buy electricity, heat, hot water and cooling on-site at prices that are up to 15% lower than those charged by their utility suppliers and will provide them with both security of supply, greater cost visibility and lower carbon energy. It is targeted at customers that have a year round requirement for heat energy, that spend over 62,500 pounds Sterling per year on natural gas. Customers that would benefit from the On-Site Utility service would include hotels, leisure complexes and hospitals or care facilities.
The EuroSite Power On-Site Utility solution is unique amongst providers of CHP in that EuroSite Power takes responsibility for the ownership, installation and maintenance of the CHP system and for the cost of gas used by the system, thus absorbing all investment and operating expenses. In so doing EuroSite Power provides customers with the energy savings of a CHP system with no capital investment and minimum risk. Furthermore, it can measurably reduce a user's carbon footprint, lowering the impact of carbon taxes including the new CRC Energy Efficiency Scheme.
EuroSite Power will be led by newly appointed Managing Director, Paul Hamblyn, who has extensive expertise in a range of low carbon technologies including CHP, renewable generation and Building Energy Management Systems (BEMS). Paul is also a Council Member of the Energy Services and Technology Association (ESTA).
Prior to joining EuroSite Power Paul was the Head of Energy Services for Corona Energy, an independent B2B gas supplier, where he directed the creation of their energy services offer. Before this he held a series of positions at ENER-G Group.
Paul Hamblyn commented:
"American DG Energy is a leading CHP provider in the US where their On-Site Utility solution and technology is already very successful and I am delighted to be heading EuroSite Power as it launches these solutions here in the UK. EuroSite Power's all round offering is a compelling one for customers, both financially and operationally. It saves customers money on their energy usage at minimal risk as EuroSite Power will maintain secure supply along with paying for installation and maintenance costs, and there are additional environmental benefits. I look forward to demonstrating our unique offering to the UK market."
EuroSite Power will formally launch in the UK at the Energy Event, being held at the NEC in Birmingham on Tuesday 13th and Wednesday 14th September 2011, where it will be exhibiting its CHP system and showing how its On-Site Utility offer turns a CHP into cash savings.
NOTES TO EDITORS
EuroSite Power
EuroSite Power provides institutional, commercial and small industrial properties with clean, reliable power, cooling, heat and hot water at lower costs than charged by local utilities - without any capital or start-up costs to the energy user. EuroSite Power, formed to introduce the On-Site Utility (http://www.americandg.com/On-Site-Utility) solution into the European market, is a subsidiary of American DG Energy Inc. (NYSE Amex:ADGE) which is headquartered in Waltham, Massachusetts.
More information can be found at http://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.
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