Lime Energy Awarded Energy Efficiency Direct Install Program Contract for Central Hudson Gas & Electric Corporation
May 02, 2012
Contract Value Worth Up to Approximately $25 Million
Lime Energy Co. (NASDAQ: LIME) announced today the award of a four-year contract by Central Hudson Gas & Electric for the implementation of their Energy Efficiency Commercial Lighting Program. The program serves small and medium sized commercial customers with a peak energy demand of under 350 kW and helps them offset energy efficiency implementation costs by up to 70%. It is anticipated that the program could involve as many as 5,000 projects and have an overall contract value to Lime worth approximately $25 million over the four year period. Headquartered in Poughkeepsie, NY, Central Hudson Gas & Electric Corporation serves approximately 300,000 electric and 74,000 natural gas customers in eight counties of New York State’s Mid-Hudson River Valley.
Lime Energy replaces the existing provider and will exclusively implement comprehensive multi-measure efficiency projects for the Mid-Hudson River Valley, which extends from the suburbs of metropolitan New York City through south of the capital district in Albany. Encompassing the Kingston/Catskill, Poughkeepsie, Fishkill and Newburgh areas, Central Hudson’s energy efficiency lighting program will incentivize their commercial customers to improve their facilities, reduce emissions from power plants, lower the cost of doing business in the Hudson Valley and create local green jobs. “Central Hudson’s lighting program just got better,” said Anthony Campagiorni, Vice President of Business Development, who leads Central Hudson’s energy efficiency programs. “New lighting options now make it possible for small and mid-size businesses, office buildings and other facilities to upgrade to brighter, more efficient lighting with little out-of-pocket expense.”
“Lime Energy has been an integral part of New York State’s EERS program aimed at reducing energy consumption 15% by 2015,” said Adam Procell, Executive Vice President at Lime Energy. “We have worked with every utility in NY State in pursuit of this goal, including direct install programs for LIPA, NYPA and National Grid. We look forward to working with Central Hudson to continue the success of this important program, creating green jobs in the Hudson Valley and exceeding the programs savings goals.”
About Lime Energy Co
Lime Energy is building a clean energy future. As one of the nation’s leading providers of clean energy solutions, Lime brings over 25 years of delivering economically viable efficiency and renewable energy solutions that benefit communities and protect the environment. Lime’s platform includes some of the energy industry’s most experienced professionals and an expansive geographic footprint with over 350 employees at 18 locations in North America. Lime Energy’s services include integrated energy engineering, consulting and the implementation of solutions that enable customers to reduce their facility’s energy consumption, lower their operating and maintenance costs and reduce their carbon footprint. The company's stock is traded on NASDAQ under the symbol LIME. Additional information is available at www.lime-energy.com or by emailing email@example.com.
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy's current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as "may," "expects," "anticipates," "believes," “hope,” "intends," "estimates," "plan," "should," "typical," "preliminary," or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward- looking statements. These risks include those described in Lime Energy's most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; such factors are incorporated here by reference.
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