Announced that its installed base consists of 59 energy systems and has under construction an additional 13 systems under signed agreements
American DG Energy Inc. (OTC Bulletin Board: ADGE), a leading On-Site Utility offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, announced that its installed base consists of 59 energy systems and has under construction an additional 13 systems under signed agreements. In addition, as announced on August 12, 2009, all twenty-seven Combined Heat and Power (CHP) energy projects, representing 38 energy systems, which the Company submitted for Federal stimulus funds through the American Recovery and Reinvestment Act of 2009, allocated for efficient energy projects under Funding Opportunity Announcement (FOA) DE-FOA-0000044, have passed the first stage in the selection process by being approved at the State level. The company has also sent over 100 proposals for new installations.
“In addition to our current successful activities, we are very excited about our future growth for 2010 and beyond,” said John N. Hatsopoulos, CEO of American DG Energy. “The introduction and UL approval of the InVerde, inverter-based, 100-kilowatt CHP system for both base load and back-up generation and its integration with solar or other renewable energy sources make our energy systems very desirable, both in the United States and in Europe. With the InVerde system available, we will now pursue expansion of our company into Europe. Furthermore, our growth will be augmented by the creation of Ilios Dynamics Inc. that is developing a Hybrid Heat System based on a highly efficient natural gas heat pump.”
About American DG Energy
American DG Energy supplies low-cost energy to its 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 local utilities — without any capital or start-up costs to the energy user. American DG Energy is headquartered in Waltham, Massachusetts. More information can be found at www.americandg.com.
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.