WALTHAM, Mass., May 18, 2011 /PRNewswire/ -- American DG Energy Inc. (NYSE Amex: ADGE), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, released comments from John Hatsopoulos, Chief Executive Officer and Barry J. Sanders, President & Chief Operating Officer, regarding the ongoing operations of the Company.
"I firmly believe that the current market price of American DG Energy's stock does not reflect the true value of the company. We have a sound strategy and management sees no reason to change that strategy as we continue to build upon our core businesses," stated Mr. Hatsopoulos.
Mr. Sanders continued, "Management strongly believes that the strength of American DG Energy continues to grow and that our key fundamental business indicators are moving in a positive direction. As an example of this growth, our energy sales for April 2011 grew by approximately 31% compared to the same period a year ago."
American DG Energy sells the energy produced on-site from a combined heat and power system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility customers only pay for the energy produced by the CHP system and receive a guaranteed discount rate on the price of the energy. All system capital, installation and operating expenses are paid by American DG Energy. All system installation, operation and support are handled by the Company as well.
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.
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.