WALTHAM, Mass., March 22, 2011 /PRNewswire/ -- American DG Energy Inc. (NYSE Amex: ADGE), a leading OnSite Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, today announced that the Company has entered into an agreement with Global Partners LP (NYSE: GLP), a FORTUNE 500(R) company.
According to the terms of the agreement, Global's network of salespeople and agents will introduce American DG Energy's On-Site Utility energy solution to both Global's existing clients as well as new customers. Additionally, American DG Energy, will act as an agent for Global, and will now market Global's natural gas and electricity to help further lower customer energy costs and create a new income stream for American DG Energy. Global will also supply American DG Energy with a competitive source of fuel positioning American DG Energy to expand its fleet of energy systems.
"American DG Energy is excited to have a strong business partner in Global Partners," said John N Hatsopoulos, Chief Executive Officer of American DG Energy. "With this relationship, we have immediately increased our sales distribution and reach, created a new revenue source with minimal cost and developed an excellent source for low cost fuel for our owned energy systems."
About American DG Energy
American DG Energy supplies low-cost energy to its customers through distributed power generating systems. The Company 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 local utilities – without any capital or start-up costs to the energy user – through its On-Site Utility energy solutions. American DG Energy is headquartered in Waltham, Massachusetts. More information can be found at www.americandg.com.
About Global Partners LP
Global Partners LP, a publicly traded master limited partnership based in Waltham, Massachusetts, owns, controls or has access to one of the largest terminal networks of refined petroleum products in the Northeast. The Partnership is one of the largest wholesale distributors of gasoline, distillates and residual oil to wholesalers, retailers and commercial customers in the New England states and New York. In addition, the Partnership owns and supplies fuel to 190 Mobil branded retail gas stations in New England, and also supplies Mobil branded fuel to 31 independently-owned stations. Global Partners LP, a FORTUNE 500(R) company, trades on the New York Stock Exchange under the ticker symbol "GLP." For additional information, please visit www.globalp.com.
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 American DG Energy Inc.