American DG Energy Operates Onsite Energy System at NY Housing Complex
500 kW of Combined Heat and Power Equipment Provided at No Cost to Linden Plaza
BROOKLYN, N.Y., May 4 /PRNewswire-FirstCall/ -- 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, is now operating a 500 kW onsite energy system at Linden Plaza Preservation LP, a 1,500-unit, low-income housing complex. Because Linden Plaza opted for the Company's On-Site Utility energy solution, the energy system, comprised of five 100 kW combined heat and power (CHP) units, was provided at no cost to the housing complex.
American DG Energy operates an onsite energy system which generates clean energy in the form of electricity and heat for domestic hot water at Linden Plaza. The energy is produced with small-scale, CHP equipment, located at the housing complex but owned and operated by American DG Energy. Taking advantage of the Company's On-Site Utility, Linden Plaza pays only for the energy the property uses and avoids all capital, installation and operating costs. American DG Energy also handles all service, maintenance and repair of the energy system; therefore, Linden Plaza does not need any manpower to maintain the equipment.
On-Site Utility
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.
FORWARD-LOOKING STATEMENTS
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.
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