The City of St. Charles and Verde Energy USA Announce Ice Bear™ Installation

First Phase of Innovative Energy Storage Project Complete

News provided by

May 23, 2013, 01:00 ET

ST. CHARLES, Ill., May 23, 2013 /PRNewswire/ -- The City of St. Charles, Illinois, ("City") and Verde Energy USA ("Verde"), a leading independent retail power supplier and energy solutions provider, jointly announced today the successful installation of Ice Energy's Ice Bear™, a proven, clean energy storage system. This marks the completion of the initial phase of the project between Verde and the City. The Ice Bear technology will enable the City to more efficiently and effectively utilize air conditioning, as the summer months approach.

To view the multimedia assets associated with this release, please click http://www.prnewswire.com/news-releases/the-city-of-st-charles-and-verde-energy-usa-announce-ice-bear-installation-208666241.html

In December 2012, St. Charles and Verde announced the establishment of a clean energy efficiency project involving the installation of an Ice Bear unit at the municipal water treatment laboratory building, located at the City's Public Works complex. This demonstration project focuses on producing greater energy efficiency and generating cost savings in air conditioning use. During the project, which runs throughout 2013, Verde and St. Charles will collect data and share results on the performance of the system, which has a proven track record in scores of applications around the country.

St. Charles Mayor Raymond Rogina said, "We are very pleased to have reached this first milestone in our partnership with Verde. St. Charles prides itself on being a progressive community committed to sustainability and green solutions, both within its offices and around the community, and this project is a clear demonstration of that commitment. We look forward to reviewing the results of this technology now that temperatures are rising and we can put it to use."

Thomas FitzGerald, Chief Executive Officer of Verde Energy USA, commented, "The installation of the Ice Bear unit reflects the continued momentum of our Energy Storage Solutions Project with St. Charles. Given the strong track record of this technology, we expect that Ice Bear will deliver the same environmental, smart grid, and cost benefit potential to St. Charles as it has done previously in so many other U.S. cities, and we look forward to evaluating and sharing those results with the community."

The Ice Bear replaces conventional condensing units in a typical building cooling system and shifts the air conditioning electrical power demand to off-peak hours by using water to make ice at night, when the electric grid is generally unstressed. Then, during a hot summer day, when demand goes up and electric prices may be higher, the melting ice provides the cooling that otherwise would have to come from the air conditioner's compressor. The melted water is then recycled through the system when the process begins again the following night. The result is lower energy costs and increased electric grid reliability.

As part of its Green St. Charles program, the City of St. Charles practices and promotes a number of environmentally conscious initiatives. Visit www.stcharlesil.gov/green to view a video about the technology and to learn more.

About the City of St. Charles
Friendly neighborhoods, diverse retailers, international employers, innovative schools, beautiful parks, varied cultural amenities, and unique architecture have earned St. Charles its reputation as the Pride of the Fox. Located in both DuPage and Kane counties, the City of St. Charles is 35 miles west of downtown Chicago, and has a population of approximately 33,000. Over 2,100 businesses, consisting of a balanced mix of retailers, restaurants and manufacturing facilities, employ more than 18,000 people. The City of St. Charles was named the #1 City for Families by Family Circle® magazine in 2011; one of the "150 Great Places in Illinois," by the AIA Illinois; and one of the "Top 10 Towns To Live In" by West Suburban Living magazine. www.stcharlesil.gov

About Verde Energy USA
Verde Energy USA is a Retail Energy Supplier focused on the residential and small to mid-size commercial power markets. Through Verde Energy Solutions, its wholly-owned subsidiary, Verde aims to broaden and accelerate the adoption of state-of-the-art clean energy technologies. Headquartered in Norwalk Connecticut, Verde Energy USA has grown substantially since its market launch in November 2009, now servicing Connecticut, New Jersey, Pennsylvania, Illinois, Ohio, New York, Massachusetts, and Maryland markets. For more information, visit www.verdeenergyusa.com.