WALTHAM, Mass. – July 07, 2015 – EuroSite Power Inc., (OTCQB: EUSP) On-Site Utility™ solutions provider, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the United Kingdom (UK) and Europe, has signed an agreement worth approximately £1.23 (US$1.97) million with Stevenage Leisure Limited to provide a solution for the new Flitwick Leisure Centre currently under construction in Flitwick Bedfordshire, UK.
In a first for EuroSite Power, a 100kW combined heat and power (CHP) system will be installed as part of a new build project. In delivering a CHP in this way, EuroSite Power is helping both its customer and the building’s developer, Central Bedfordshire Council to achieve the Target CO2 Emissions Rate (TER) defined by Part L2A of the Building Regulations 2010 in England and Wales. These regulations specifically require building designers to consider the technical, environmental and economic feasibility of using high-efficiency alternative heating systems including CHP as part of their design in order to meet the TER.
Under the terms of the 15 year agreement, a highly efficient CHP system will be funded, owned and operated by EuroSite Power at the leisure center. Flitwick Leisure Center will then buy the efficient energy produced by the system from EuroSite Power at a guaranteed lower rate than if it were to buy directly from the grid.
The 100 kWe CHP system will produce up to 1,373,787 kWh of total energy per annum, while saving up to 249 tonnes of CO2 – equivalent to taking 52 cars off the road each year. The new contract brings EuroSite Power’s portfolio of UK systems to 36 with a value to the company of £63.2 (US$101.12) million from units totaling 3,638 kW electrical capacity. Compared to operating the new facility without the benefit of an On-Site Utility™ CHP solution the annual energy costs are estimated to be over £16,000 (US$25,600) less, with no capital or maintenance costs.
Stevenage Leisure Limited Corporate Services Director Jonathan Stone said, “Keeping a tight grip on energy costs is of paramount importance to the efficient running of a leisure center. With no upfront costs, the EuroSite Power solution provides guaranteed savings, risk free. Their experience in the leisure industry meant they were able to tailor an exact solution to our needs while also helping the developer to comply with Building Regulations.”
Paul Hamblyn, Managing Director of EuroSite Power, said, “Although EuroSite Power has extensive experience in providing CHP systems to leisure centers in the UK, this project represents a milestone as it will be the first solution provided into a new build. As well as ensuring compliance with UK Building Regulations in relation to energy efficiency at the time of installation, our On-Site Utility™ solution ensures full compliance as well as guaranteed savings for the customer throughout the 15 year term of the contract. We feel very confident that, as more customers learn the full benefits of On-Site Utility™ solutions, this will be the first of many projects of this type.”