EuroSite to Provide On-Site Utility™ to Kingfisher Leisure Centre
CHP System to be installed under 15-year Agreement
Tuesday March 31st 2015
WALTHAM, Mass. – March 31, 2015 – EuroSite Power Inc., (OTCQB: EUSP), a subsidiary of American DG Energy Inc. (NYSE MKT: ADGE), a leading On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centres in the United Kingdom (UK) and Europe, has signed an agreement worth approximately £1.51 (US$2.41) million with Kingfisher Leisure Centre, Sudbury, UK.
Under the terms of the 15 year agreement, a highly efficient combined heat and power (CHP) system will be installed, owned and operated by EuroSite Power at the leisure centre, which will then buy the efficient energy produced by the system from EuroSite Power at a rate guaranteed to be lower than if it were to buy directly from the grid.
The 125 kWe CHP system installed will produce up to 2,742,547 kWh of total energy per annum, while saving up to 234 tonnes of CO2 – equivalent to taking nearly 50 cars off the road each year. The new contract brings EuroSite’s portfolio of UK systems to 34 with a value to the company of £59.26 (US$92.98) million from units totalling 3,465 kW electrical capacity.
Estimated savings for the customer are in excess of £12,598 (US$20,156) per year, with no capital or maintenance costs. Kingfisher Leisure Centre is located in Sudbury town centre in Suffolk. Facilities include a large leisure pool, sauna, spa, 37-station gym, Power Plate studio, café and children’s play centre.
Kingfisher Leisure Centre Chief Executive Officer Tracey Loynds said: “Controlling energy costs is of the utmost importance when running a large leisure centre. A zero capital solution providing immediate, guaranteed savings means we can keep our costs down, risk free.”
Paul Hamblyn, Managing Director of EuroSite Power, said. “We are very proud to announce the signing of this agreement. Like our 13 other sports and leisure facility customers, Kingfisher can now look forward to enjoying risk-free, cheaper energy into the future.”