DoubleTree by Hilton, Dunblane Hydro, Enjoys Savings with Zero Capital Outlay
WALTHAM, Massachusetts, Sept. 30, 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, is now operating a combined heat and power (CHP) system supplying clean energy to DoubleTree by Hilton, Dunblane Hydro, in Scotland.
Dunblane Hydro is the fifth Hilton operated property owned by The Ability Group commissioned under contract to EuroSite Power. The system has been designed to accommodate up to two 100kW CHP units although only one has been installed at this time. The second unit will be added when appropriate. Of the other sites covered by the same thirty-year agreement, the Hilton Liverpool began operating in July 2012 followed by the Hampton by Hilton, Luton Airport, in November 2012, the Hilton London Syon Park in January 2013 and the DoubleTree by Hilton, Cambridge, in April 2013.
The five CHP systems now commissioned are set to produce approximately 6.5 million kWh of total energy per year. The Ability Group receives a discount on the energy produced by the CHP systems and reduces its carbon emissions from each property.
A spokesperson for The Ability Group said: “Working with EuroSite Power means no capital investment was required for the installation of the CHP systems and we are guaranteed savings, whatever happens to energy prices in the future.”
EuroSite Power now produces clean energy in the form of electricity, heating and domestic hot water for each hotel at a price lower than The Ability Group’s previous and future energy suppliers. Because The Ability Group opted for the company’s On-Site Utility solution, each hotel pays only for the energy used and avoids all capital, installation and operating costs. EuroSite Power also handles all service, maintenance and repairs meaning neither The Ability Group nor Hilton Worldwide need to provide manpower to support the energy equipment.
The CHP systems now operating at the five properties are expected to reduce emissions by 700 tons of carbon dioxide each year and, because good quality CHP is supported by the UK Government, the impact of the Climate Change Levy and CRC energy efficiency scheme are greatly reduced. The CRC is a mandatory scheme aimed at improving energy efficiency and reducing emissions in large public and private sector organizations in the UK.
Paul Hamblyn, Managing Director of EuroSite Power, said: “We are pleased to announce the successful commissioning of the fifth CHP system provided to The Ability Group under this contract. This latest installation brings the total capacity of On-Site Utility systems in operation to 1,010 kWe.”
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 Watford, UK. 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.