University and Hotel Group Select American DG Energy (NYSE MKT: ADGE) to Perform Feasibility Study to Reduce Energy Costs and Replace Equipment
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WALTHAM, Mass. - August 27, 2013 (Investorideas.com newswire) American DG Energy Inc. (NYSE MKT: ADGE), a leading On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, has reached agreements for feasibility studies with two new clients for $105,000. The success of these two feasibility studies may lead to future agreements to implement the recommended energy strategy with a major university and a large hospitality group.
In both studies, American DG Energy is evaluating the electrical, domestic hot water, space heating, steam and cooling needs of the buildings. The clients need to replace existing equipment and are seeking the best technical, environmental and financial options. The energy systems to be considered will include: combined heat and power systems, heat pumps, boilers and chillers. The objective of the study is to present strategies to lower or eliminate the clients' capital investment and operational responsibilities for the equipment upgrade.
American DG Energy sells the energy produced from an onsite energy 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 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.
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. Learn more about how American DG Energy (NYSE MKT: ADGE) reduces energy costs at www.americandg.com or follow us on Facebook and Twitter.
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.
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