WALTHAM, Mass., Sept. 19, 2016 /PRNewswire/ -- EuroSite Power Inc., (OTCQX: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe has been selected as a finalist in two categories at the prestigious Association for Decentralized Energy Awards 2016.
The Association for Decentralised Energy (ADE) Awards aim to showcase innovation, best practice and achievements across combined heat and power, district heating and demand response and energy services, in the UK.
With a total eight award categories for 2016, EuroSite Power has been shortlisted for the Commercial / Public Sector Project of the Year for its solution for Kingfisher Leisure Centre, Sudbury, UK, and for the Customer Engagement Award for its solution for Haverhill Leisure Centre, Haverhill, UK.
The shortlisted project for Kingfisher Leisure Centre involves a 125 kW combined heat and power (CHP) system installed and operated by EuroSite Power at the leisure center, at zero cost. Under the terms of a 15 year agreement, the leisure center buys the efficient energy produced by the system from EuroSite Power at a rate guaranteed to be lower than if it were to buy directly from the British National Grid.
The system installed will produce up to 1,484,021 kWh of total energy per annum, while saving up to 234 tonnes of CO2 – equivalent to taking nearly 50 cars off the road each year. Estimated savings for the customer are in excess of £12,598 (US$20,156) per year, with no capital or maintenance costs.
Speaking about the project, Kingfisher Leisure Centre Chief Executive Officer Tracey Loynds said: "Controlling energy costs is of the utmost importance when running a large leisure center. EuroSite Power's zero capital solution provides immediate, guaranteed savings so we can keep our costs down, risk free."
The solution for Haverhill Leisure Centre involves both a 100kW CHP system and 25 ton (87kW) air-conditioning system installed by EuroSite Power at the centre managed by Abbeycroft Leisure, a Charitable Leisure Trust, which also operates St Edmundsbury Borough Council's other leisure centre in Bury St Edmunds plus another fitness centre in Ipswich. Similar to Kingfisher Leisure Centre, the systems are installed and operated by EuroSite Power, which retains ownership of the equipment on site. The Leisure Trust receives a discount on the energy produced by the CHP system and reduces its carbon emissions from the property.
Speaking about the project at Haverhill Leisure Centre, Abbeycroft Leisure Operations Director Simon Ginders-Coxshall, said: "Because we avoided the major capital costs that would have been required to buy the energy-saving equipment they installed, we have been saving costs from day one, meaning we have been able to reinvest the savings into a new gym and power room refurbishment and upgrade."
Paul Hamblyn, Managing Director of EuroSite Power, said: "We are delighted to have been shortlisted in two categories at this year's ADE Awards. We hope these selections provide unbiased recognition of how our solutions represent a pioneering way to help customers access the benefits of CHP in a way that is demonstrably superior to other methods of sale."
The final award winners will be announced at a ceremony on 23rd November 2016 at The Natural History Museum, London.
On-Site Utility
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 solution 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 Inc. is committed to providing 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 - through On-Site Utility energy solutions. For more information about our unique efficient power solutions please visit www.eurositepower.co.uk and follow us on Twitter and LinkedIn.
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, including its annual report on Form 10-K for the fiscal year ended December 31, 2015. 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 EuroSite Power Inc.
