Aug 4, 2014
American DG Energy Inc. (NYSE MKT: ADGE), a leading On?Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, announced that it has reached an agreement to provide an On-Site Utility solution to Green Hill Retirement Community in West Orange, New Jersey. Under the terms of the agreement, Green Hill will receive a portion of its energy from a 75 kW combined heat and power system (CHP). The system will be owned and operated by American DG Energy and the agreement will provide American DG Energy with a revenue value of approximately $1,800,000 over the 15 year contract.
American DG Energy, partnering with Community Works of Atlanta, Georgia, will produce domestic hot water and electricity. The CHP systems will offset 526 tons of carbon annually. This annual carbon savings is equal to removing 99 vehicles from the roadways each year. Green Hill will pay only for the energy used by the facilities and avoid all capital, installation and operating costs of the system.
"When Green Hill Retirement Community in West, Orange New Jersey reached out to us for an innovative solution to help reduce energy spend and extend the life of their existing boiler plant, we jumped at the opportunity to help," said Regional Director of Operations for Morrison's CommunityWorks, Tim Ross. "The request proved timely, as we were already in the process of assessing Green Hill's potential savings with our partners at American DG. Once the data was evaluated, we were able to provide substantial savings, carbon footprint reduction, no investment and capital savings".
"The co-generation opportunity that Morrison's CommunityWorks provided to Green Hill allowed the community to jump decades ahead of their competitors in terms of energy use and savings," said National Project Manager for Morrison's CommunityWorks, Ken Waddington. "Green Hill's co-generation system reflects the new standard to which all other senior living communities should strive to achieve".
Founded in 1866 in neighboring Newark following the Civil War, as a small residence for 13 women, the community continued to grow and purchased Green's Hotel, built in 1920 in West Orange to become what is now known as Green Hill Retirement Community. Located minutes away from New York City, Green Hill provides long term care, residential health care and comprehensive personal care in a homelike setting offering support and assistance to seniors and their families.
About Community Works
Founded in 2006, CommunityWorks is a division of Morrison Senior Living that provides environmental and hospitality support services to senior communities nationwide. The CommunityWorks team is focused on Plant Operations, Landscaping, Housekeeping and Laundry. Through these offerings, CommunityWorks programs reduce cost, improve regulatory compliance, enhance efficiency and provide exceptional experiences for residents. To learn more about CommunityWorks, visit http://www.morrisonseniorliving.com/Pages/Main.aspx?ItemID=66.
American DG Energy 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 and operating expenses are paid by American DG Energy.
About American DG Energy
American DG Energy supplies low-cost energy to its customers through distributed power generating systems. We are 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 - through our On-Site Utility energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. Learn more about how American DG Energy reduces energy costs at www.americandg.com or follow us on Facebook and Twitter.
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.
SOURCE American DG Energy Inc.
American DG Energy Inc.
CONTACT: Investor Contact: John Hatsopoulos, American DG Energy Inc., 781.622.1120, firstname.lastname@example.org; Media Contact: Christine Cobuzzi, American DG Energy Inc., 781.522.6014, email@example.com
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