NORESCO Awarded Contract with U.S. Army Corps of Engineers

WESTBOROUGH, Mass., April 6 /PRNewswire/ -- NORESCO is one of 16 companies awarded contracts by the U.S. Army Corps of Engineers to implement energy savings infrastructure projects under its Energy Savings Performance Contracts (ESPC) program. A national leader in energy-savings solutions, NORESCO has been providing ESPC services to the U.S. Army for more than a decade under two contracts. NORESCO is a subsidiary of Carrier Corp., which is a unit of United Technologies Corp. (NYSE: UTX).

The total value of the contracts with all 16 companies combined is $900 million. NORESCO and the other companies will bid for individual jobs under the terms of the contracts.

The contracts are for a five-year period with an option to extend for an additional five years. They allow federal government installations or facilities in the United States and its territories to work with NORESCO to implement energy and water efficiency projects, helping achieve mandated energy reduction goals in accordance with the National Energy Conservation Policy Act.

Neil Petchers, NORESCO's president and chief executive officer, said, "NORESCO is honored to continue working with the U.S. Army Corps of Engineers to support energy efficiency at the Department of Defense and other federal agencies. This new award enables us to provide substantial energy and cost savings to taxpayers, reduce dependence on fossil fuels, conserve water resources and improve energy security. We are committed to our long-standing partnership with the U.S. Army and look forward to contributing to a very successful program."

NORESCO is one of the most successful federal ESPC contractors on record, with more than $700 million in projects awarded and implemented at federal facilities worldwide, including the U.S. Army, U.S. Navy, U.S. Marine Corps, U.S. Department of Energy and U.S. Department of Justice. As one of the largest U.S.-based energy services companies, NORESCO specializes in the development, design, construction, financing and operation of energy and environmental efficiency projects, performance contracting and central energy plants. In addition to various U.S. government agencies, NORESCO clients include public housing agencies, school districts, universities, state and local governments and industrial and commercial businesses. Over the past 25 years, NORESCO has implemented more than $2.5 billion in energy projects at more than 2,000 sites throughout the U.S. and abroad.

About Carrier Corp.

Carrier Corp., headquartered in Farmington, Conn., is the world's largest provider of heating, air-conditioning and refrigeration solutions. With 2008 revenues of $14.9 billion, Carrier has approximately 41,000 employees worldwide and operations in more than 170 countries. Carrier is part of United Technologies Corp., a Hartford, Connecticut-based provider of products and services to the aerospace and building systems industries worldwide. Visit www.carrier.com for more information.

SOURCE NORESCO



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