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Exciting New On-Site Utility To Launch In The Uk
Eurosite Power Limited (“Eurosite Power” Or “The Company”)
Exciting New On-Site Utility To Launch In The Uk Appoints Paul Hamblyn As Managing Director

LONDON, UNITED KINGDOM 30 August 2011 - EuroSite Power Limited (www.eurositepower.co.uk) a subsidiary of NYSE Amex-listed American DG Energy Inc. is to launch in the UK.  It plans to revolutionise the UK small-scale combined heating and power (CHP) market with its On-Site Utility service, importantly, delivering cost savings to customers without the responsibility of capital investment.

EuroSite Power’s On-Site Utility solution will enable customers to generate and buy electricity, heat, hot water and cooling on-site at prices that are up to 15% lower than those charged by their utility suppliers and will provide them with both security of supply, greater cost visibility and lower carbon energy.  It is targeted at customers that have a year round requirement for heat energy, that spend over £62,500 per year on natural gas.  Customers that would benefit from the On-Site Utility service would include hotels, leisure complexes and hospitals or care facilities.

The EuroSite Power On-Site Utility solution is unique amongst providers of CHP in that EuroSite Power takes responsibility for the ownership, installation and maintenance of the CHP system and for the cost of gas used by the system, thus absorbing all investment and operating expenses.  In so doing EuroSite Power provides customers with the energy savings of a CHP system with no capital investment and minimum risk.  Furthermore, it can measurably reduce a user’s carbon footprint, lowering the impact of carbon taxes including the new CRC Energy Efficiency Scheme.

EuroSite Power will be led by newly appointed Managing Director, Paul Hamblyn, who has extensive expertise in a range of low carbon technologies including CHP, renewable generation and Building Energy Management Systems (BEMS).  Paul is also a Council Member of the Energy Services and Technology Association (ESTA).

Prior to joining EuroSite Power Paul was the Head of Energy Services for Corona Energy, an independent B2B gas supplier, where he directed the creation of their energy services offer.  Before this he held a series of positions at ENER-G Group.

Paul Hamblyn commented:

“American DG Energy is a leading CHP provider in the US where their On-Site Utility solution and technology is already very successful and I am delighted to be heading EuroSite Power as it launches these solutions here in the UK. EuroSite Power’s all round offering is a compelling one for customers, both financially and operationally.  It saves customers money on their energy usage at minimal risk as EuroSite Power will maintain secure supply along with paying for installation and maintenance costs, and there are additional environmental benefits.  I look forward to demonstrating our unique offering to the UK market.”

EuroSite Power will formally launch in the UK at the Energy Event, being held at the NEC in Birmingham on Tuesday 13th and Wednesday 14th September 2011, where it will be exhibiting its CHP system and showing how its On-Site Utility offer turns a CHP into cash savings.


FOR FURTHER INFORMATION ABOUT THIS RELEASE PLEASE CONTACT:

EuroSite Power (UK) Limited
Paul Hamblyn

Tel: +44 (0)844 6932848/ +44 (0)7920 859540
paul.hamblyn@eurositepower.co.uk
www.eurositepower.co.uk 

Pelham Bell Pottinger
Archie Berens / Zoë Sanders / Clare Gilbey

Tel. +44 (0)20 7861 3112

INVESTOR CONTACT:

EuroSite Power Inc.
John Hatsopoulos
Chairman of the Board of Directors

Tel: +1 781 622 1120
john.hatsopoulos@eurositepower.co.uk
 

NOTES TO EDITORS

EuroSite Power

EuroSite Power provides institutional, commercial and small industrial properties 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.  EuroSite Power, formed to introduce the On-Site Utility
(http://www.americandg.com/On-Site-Utility) solution into the European market, is a subsidiary of American DG Energy Inc. (NYSE Amex:ADGE) which is headquartered in Waltham, Massachusetts.

More information can be found at http://www.eurositepower.co.uk.

FORWARD-LOOKING STATEMENTS

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.

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EUROSITE POWER LIMITED

Company number 07379560

Dr. Elias Samaras

Chief Executive Officer

Dr Elias Samaras is the founder, president and managing director of Digital Security Technologies S.A. He was also the founder and president of Plefsis Information Systems S.A. and City Messengers. Elias holds a Master of Science degree from MIT, a Doctor of Philosophy from Columbia University in New York, where he was also a professor for several years and an OPM from Harvard Business School.

Paul Hamblyn

Chief Operating Officer

Paul Hamblyn is Chief Operating Officer of EuroSite Power Ltd with responsibility for strategic and new business development of the business.Paul is highly experienced in the energy sector having built an enviable track record prior to joining EuroSite Power. This includes strategic level roles with Corona Energy and the ENER-G Group including 3 years as the Managing Director of ENER-G Efficiency.A leading expert on UK carbon regulation Paul is a regular speaker at major conferences including those organised by the Major Energy Users Council, the Local Government Association and the Westminster Energy Forum. He is also a formerCouncil Member of the Energy Services and Technology Association (ESTA). Paul is a CIBSE accredited Low Carbon Consultant and Energy Assessor as well as principal author of the award-winning CRC Toolkit developed for the London Energy Project.

Chris Marsland

UK General Manger

Chris Marsland is UK General Manger of EuroSite Power Ltd. He leads the UK operational company and directs its operational and administrative functions. Prior to joining Eurosite Power, Chris built up years of sector expertise in senior positions including the role of Technical Director at Centrica Business Solutions, formerly ENER-G Combined Power Limited. He also Chaired the Association for Decentralised Energy Commercial Forum and is an Association Board Member. Chris earned a first-class bachelor’s degree in electronic engineering and is both a Chartered Engineer and Fellow of the Institute of Engineering & Technology.

Laura Chambers

Financial Controller & Company Secretary

Laura Chambers is EuroSite Power Ltd’s Financial Controller and Company Secretary. An experienced finance professional, Laura has undertaken financial planning and analysis roles at number of blue-chip businesses including Astra Zeneca. She also spent 7 years at Kellogg’s European Finance Services Centre (EFSC). Qualified as a Chartered Accountant at KPMG’s Manchester office, Laura brings strong organisational skills and broad finance experience to the team.

Stephen Butler

Head of Operations

Stephen Butler is EuroSite Power Ltd’s Head of Operations. Having joined the company in 2012 as Chief Engineer, Stephen has moved through the business into his current role. With an impressive resume that includes senior mechanical engineering roles at Thames Water and ENER-G Combined Heat and Power Ltd, Stephen brings strong operational, project management and technical experience to the team. He is a Technician Member of the Institution of Engineering and Technology (TMIET).

Martin Evans

UK Sales Manager

Martin Evans is our UK Sales Manager. A well-known and seasoned energy sector specialist, he brings a wealth of commercial experience - from start-ups to corporate level engagement – to our team. With a career spanning over 30 years, he has spent much of his career in technology led businesses and manufacturing including aviation and automotive. Martin’s previous roles at cutting-edge low carbon businesses including Grid Beyond, WEMS International and EnergyQuote JHA have given him a unique insight into the challenges faced by many of the UK’s most intensive energy users. He has also amassed over 15 years direct experience in commercial asset finance. Martin studied Applied Chemistry at the University of Manchester.

MARK BROWN

Account Manager

Mark Brown is our Account Manager. An experienced energy sector professional - particularly in the fields of CHP and renewable technologies - Mark has worked in engineering and technical roles for over 20 years. This includes 11 years at Cogenco UK (now fully integrated into Veolia’s CHP business). A great communicator with a positive approach to creative problem solving and troubleshooting, Mark is a key member of our customer-facing team. He holds qualifications from the Institute of Leadership and Management.

Jacques de Saussure

Non-Executive Chairman of the Board

Jacques de Saussure was Senior Managing Partner of the Pictet Group from 2010 until June 2016 after being elected partner of Pictet in 1987. Founded in Geneva in 1805, Pictet Group is one of Europe’s leading independent wealth and asset managers with EUR 437 billion of assets under management and custody as of 31 December 2015. Jacques is a member of the board of the Swiss Bankers Association and has also served as Vice Chairman of the Swiss Stock Exchange, which merged into SIX group in 2008, where he remained member of the board until 2010. Jacques holds a Master’s degree from MIT’s Sloan School of Management.

Dr Ahmed F. Ghoniem

Dr. Ahmed F. Ghoniem has been a member of our Board of Directors since January 2011. He is the Ronald C. Crane Professor of Mechanical Engineering at the Massachusetts Institute of Technology (MIT). He is also the director of the Center for 21st Century Energy and the head of Energy Science and Engineering at MIT, where he plays a leadership role in many energy-related activities, initiatives and programs. Ahmed holds a Ph.D. in Mechanical Engineering from the University of California, Berkeley, and an M.S. and B.S. in Mechanical Engineering from Cairo University.

Joan Giacinti

Joan Giacinti is the founder and Chief Executive Officer of Sofratesa Group with headquarters in Santo Domingo, Dominican Republic. Joan is also a founder of Aerodom, a concessionaire chosen by the Dominican government to develop, operate and manage airports in the Dominican Republic, which in 2008 was acquired by Advent International. He is the President of the Caribbean region of the French Trade Councils, “Conseillers du Commerce Exterieur” and the President for the Americas of the Forum Francophone des Affaires (FFA). He is also decorated with the Ordre national du Mérite by the President of the French Republic. Joan is a graduate from the École des Hautes Études Commerciales de Paris (HEC).

Marcel Cassard

Marcel Cassard joined Deutsche Bank in 1997 where he is now a member of the Global Markets Executive Committee and Global Head of Fixed Income and Economics Research. Marcel also heads the Bank’s Global Macro Strategy Group, which advises the Board and clients on broad market risks and global economic and financial developments. Previously, Marcel spent five years at the International Monetary Fund. Previous to that, he was an Economist at the Council of Economics Advisers in the Executive Office of the U.S. President. Marcel holds a PhD in Economics from Columbia University.

Mr. Stelios Zavvos

Stelios Zavvos is the Founder and CEO of Zeus Capital Management, a private equity group. With over 35 years of corporate, finance and real estate experience, Stelios is also the Founder and CEO of Continental American Capital, an investment group that focused on real estate investment and financing in the USA. He has served as a Member of the Board of Directors of the NASDAQ listed Star Bulk Carriers Corp, serving on the Board’s Audit Committee. He has also held executive positions in blue-chip companies such as Citibank, Johnson & Johnson and Procter & Gamble. SteliosZavvos holds an MBA from Harvard Business School and an MSc in Civil Engineering.