WALTHAM, Mass., May 7, 2014 /PRNewswire/ -- EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centres in the United Kingdom (UK) and Europe, is now operating a 100kW combined heat and power (CHP) system at Clifton Hospital, UK.
Blackpool Teaching Hospitals NHS Foundation Trust signed a contract to replace their aged CHP installation at Clifton Hospital in December 2013. The newly commissioned 100kW CHP system at Clifton Hospital will generate approximately 1,745,283 kWh of total energy per annum while saving up to 208 tonnes of CO2 each year. The agreement will provide EuroSite Power with revenue estimated at approximately 1.7 million GBP (US$2.86 million) over the life of the contract.
Paul Hamblyn, Managing Director of EuroSite Power, said: "As we fund the installation and operation of our On-Site Utility solutions, the customer starts saving from the very first day of operation, so Blackpool Teaching Hospitals NHS Foundation Trust has already started saving."
Paul Jackson, Estates Manager-Engineering, Blackpool Teaching Hospitals NHS Foundation Trust, said: "Like any business we need to keep our operating costs under control and as energy prices continue to rise we needed to find a solution to keep these rises under control too. EuroSite Power's combination of zero upfront capital cost with pay-as-you-go energy has proven the ideal solution."
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 Limited is a subsidiary of American DG Energy Inc. (NYSE MKT: ADGE). The Company provides 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. More information can be found at www.eurositepower.co.uk.
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 EuroSite Power Inc.