May 29, 2014
Ameresco, Inc., (NYSE:AMRC), a leading energy efficiency and renewable energy company, announced that The Scarborough Hospital (TSH) began implementing an energy savings contract valued at $6.1 million with energy-management partner Ameresco Canada, Inc. TSH is on-track to improve the comfort and safety of patients, staff and the community with comprehensive energy infrastructure retrofits that promise greater efficiency, cost savings and environmental compliance.
The hospital has already begun a series of equipment retrofits at its General campus designed to create a more comfortable indoor environment, reduce long-term operating costs and meet stringent environmental standards set by the Ontario Ministry of the Environment (MOE). The measures will be financed as cash-flow neutral at no cost to the taxpayer, and will be funded solely by energy cost-savings generated by the retrofits over the long term.
Ameresco Canada was issued a letter of intent for the multi-million dollar contract in August of 2012 through a competitive bid process, and immediately developed a critical timeline to study, design and replace the existing chillers at the hospital's General campus. The two aging chillers were replaced with two energy-efficient models that comply with the MOE ban on chlorofluorocarbon refrigerants (CFC), which are known to accelerate the rate of global warming. The old chillers were decommissioned in late 2012, and the new ones brought on line in May 2013, in time for the summer season.
Other key planned improvements for TSH's General campus include boiler plant upgrades to recover waste heat, better air-handling controls, installation of energy-efficient lighting and the reduction of campus water consumption levels. A study of the remaining energy and renewal measures has been completed, and with an estimated completion date of June 2015 the design/build process is well underway.
'We're pleased that this partnership with Ameresco is enabling us to enhance the hospital environment for our patients and staff, while being more environmentally sustainable and adding value to the taxpayer,' said Robert Biron, President and CEO, TSH.
'Our hospital's goal is to deliver a self-funded project, with an experienced partner like Ameresco Canada, that improves our environmental sustainability, reduces costs and benefits the community, all funded through energy savings from the hospital,' stated Tyler Crocker, Director, Environment and Facilities, TSH.
'We are honored to work with The Scarborough Hospital to identify the solution to support the hospital's unique requirements, and we are delighted to have been selected to aid in meeting their efficiency and sustainability goals,' said Mario Iusi, President of Ameresco Canada. 'The energy improvements are expected to enhance the comfort of the facility for patients and staff, and provide environmental benefits that support compliance, while the energy cost-savings deliver meaningful dollars to the hospital.'
"We are looking forward to working in partnership with the exceptional people on The Scarborough Hospital team to collaboratively develop and implement this exciting program," said Anthony DaSilva, Senior Vice President and Chief Operating Officer at Ameresco Canada.
About The Scarborough Hospital
Situated in one of the most diverse communities in Canada, The Scarborough Hospital (TSH) delivers compassionate, patient-centred care at two hospital campuses (Birchmount and General) and six satellite sites. TSH is a regional centre for dialysis and is renowned for its mental health, orthopaedic surgery, maternal newborn and paediatrics, chronic disease prevention and management, and cancer care programs. Affiliated with the University of Toronto, TSH is also a referral centre for vascular surgery, pacemakers and cataract surgery.
For more information about TSH, visit www.tsh.to or contact Holly-Ann Campbell, Director, Communications and Engagement, TSH at 416-438-2911 ext. 8308, or at firstname.lastname@example.org.
About Ameresco Canada, Inc.
Ameresco Canada, Inc., a wholly owned subsidiary of Ameresco Inc. (NYSE:AMRC), is a full service energy management company that provides sustainable solutions and facility renewal services to new and existing facilities, as well as asset planning and energy and capital solutions to customers in the education, public housing, federal and provincial governments, municipalities, health care, industrial and commercial sectors. Ameresco Canada strives to present its clients with state-of-the-art renewable and sustainable solutions that reduce greenhouse gas emissions, conserve resources and reduce dependence on costly, non-renewable solutions by utilizing green design and construction, as well as clean technologies such as solar, wind, geothermal, landfill gas, biomass, biogas and hydroelectric. For more information, visit www.ameresco.ca.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco's services include upgrades to a facility's energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, health care and educational institutions, housing authorities and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco provides local expertise through its 70 offices in 33 states, five Canadian provinces and the United Kingdom. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
The announcement of a customer's entry into or commencement of a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company's overall revenue for any particular period or of trends in the company's overall total construction backlog.
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