BEVERLY, Mass., April 12, 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, is now operating a clean energy system at Sterling Center YMCA, a branch of the North Shore YMCA. The Company estimates the total revenue from this project to be $2 million over the fifteen-year agreement.
The clean energy system operated by American DG Energy at the Sterling Y is a highly efficient 75 kW combined heat and power (CHP) system which generates electricity, space heat, hot water and pool heat at the property. With American DG Energy's On-Site Utility, the Sterling Y only pays for the energy used by the facility and avoids all capital, installation, operating and maintenance costs of the energy system. In addition, the energy produced by the system is priced lower than the local utility, so the Sterling Y began saving on energy costs immediately upon system start-up and is expected to save over $200,000 during the term of the agreement.
CHP systems are a cleaner energy option, offering considerable environmental benefits, when compared with purchased electricity from the grid and on-site-generated heat from a boiler. By capturing and utilizing heat that would otherwise be wasted from the production of electricity, CHP systems require less fuel than equivalent separate heat and power systems to produce the same amount of energy. Because less fuel is combusted, greenhouse gas emissions, such as carbon dioxide, as well as air pollutants like nitrogen oxides and sulfur dioxide, are reduced. In the case of the Sterling Y, the CHP system could reduce the property's emissions by up to 330 tons of carbon dioxide annually, the equivalent of removing the carbon emissions of 55 cars each year.*
*Figures were calculated using the EPA CHP Partnership emissions calculator.
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.