DERBY, UK, November 10, 2022 -- EuroSite Power Inc. (OTCPK: 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 signed its first Shared-Risk On-Site Utility agreement with St. Helens Hotel Limited, the operators of the Mercure St Helens Hotel, UK.

The new agreement, which is expected to generate revenues of approximately £1.37 ($1.54) million over its 15-year term is the first of its type secured by the Company. Called a Shared-Risk On-Site Utility agreement this new form of OSU solution offers customers a fixed rate for the electricity generated by the highly efficient combined heat and power (CHP) system that will be installed, owned and operated by EuroSite Power at the Hotel. The Hotel will buy the electricity produced by the system at a guaranteed lower rate than available directly from the grid.  The Hotel also buys the gas used by the CHP, but the heat produced by the CHP is delivered for free. Estimated savings for the customer are in excess of £ 156,000 ($175,000) per year, with no capital outlay or maintenance costs.

The 101kWe / 142kWth TEDOM CHP system will produce up to 549,242 kWe of electricity and 781,056 kWth of heat per annum, while saving up to 69 tonnes of CO2 – equivalent to taking 15 cars off the road each year.

The new contract brings EuroSite Power’s portfolio of systems to 47 totalling  5,911 kW electrical capacity.

The Mercure St. Helens Hotel is a midscale property operated under one of Accor Group’s brands. With 84 guest rooms and a leisure facility boasting its own swimming pool the hotel is  conveniently located midway between Manchester and Liverpool in the North West of England.

St Helens Hotel Limited’s Managing Director, Taher Tayeb says, “Given the current unprecedented rise in the cost of energy we needed to find ways to improve efficiency and control costs. Cash flow is also a vital concern so, with zero upfront costs, and immediate guaranteed savings, the solution provided by EuroSite Power made perfect sense.”

Paul Hamblyn, Managing Director and Chief Operating Officer of EuroSite Power, said: “By adding this new Shared-Risk form of On-Site Utility agreement we now offer customers a choice. They can either opt to share some of the risk and reap higher energy cost savings or choose lower, but still significant savings with no commercial or technical risk”.       

About EuroSite Power
The Company provides institutional, commercial, and 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. More information can be found at 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 financial statements held by OTC markets for the fiscal year ended December 31, 2021. 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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