The nation’s leading provider of turnkey energy efficiency programs for small and mid-sized businesses expands its innovative business model by returning to the state where it all started.
June 23, 2015: Newark, NJ: Lime Energy Co. (NASDAQ: LIME), a leading provider of energy services to utilities and their commercial customers, announced today that it is moving their corporate headquarters from Huntersville, NC to Newark, NJ. The move reflects a continued refocus on its Small and Mid-Sized Business (SMB) Energy Efficiency Programs that was originally started in New Jersey in 2009 by Lime Energy’s Energy Services business unit. Over the past six years, innovations from this business unit have made the company the nation’s leading provider of turnkey energy services to SMBs.
The move to New Jersey completes a transition that Lime Energy began 18 months ago when the New Jersey-based management team of the SMB Energy Services business unit was selected to run the company. This followed the sale of its Public Sector business unit to a North Carolina-based company, and although Lime Energy is relocating its corporate headquarters, they remain committed to the Carolinas. Lime has more than 50 full-time employees in North and South Carolina, having created more than 250 green jobs there across local construction, manufacturing and supply chain businesses, a number that’s expected to grow substantially over the next five years. Lime Energy will continue to serve several major utility clients from its Southeast Regional Operations Center in Huntersville, NC. The company will also maintain its West Coast Regional Operations Center in Redlands, CA, and it’s Northeast Regional Operations Center in Woodbridge, NJ.
“It is exciting for Lime Energy to formalize our long-standing commitment to New Jersey, where we created our innovative business model and have been developing clean energy solutions for years,” said President & CEO Adam Procell. “Our Newark location provides us with great connectivity – to the Northeast Corridor, to higher education and top talent, as well as to an important urban center. This move allows us to continue ‘walking the walk’ in our commitment to sustainability and to supporting the communities where we work and live.”
The new corporate headquarters, located in Three Gateway Center, Newark, NJ, will provide the fast-growing Lime Energy with a state-of-the-art office space and facility for its senior management team and a central location for many corporate functions. The Newark location was selected because it is consistent with company’s mission of nurturing the sustainability of local communities and necessary urban enterprise zone development. The move demonstrates Lime Energy’s commitment to urban redevelopment and the creation of sustainable cities, which is a critical component of the world’s energy and resource future. Newark, NJ is also a strategic urban transit hub, as Three Gateway Center, part of the four tower Gateway indoor complex, is connected to Newark Penn Station, providing easy access to mass transit and major airport alternatives for Lime Energy’s new corporate headquarters.
“We are delighted that Lime Energy is moving its corporate headquarters to Newark and Three Gateway Center,” said Maurice Ades, principal and managing partner of Rugby Realty, whose firm acquired the property in 2014. “With our commitment to significant building and tenant enhancements, which included high-quality, energy-efficient lighting, Lime Energy’s reputation and expertise in that area, coupled with the work they have done for Direct Install from New Jersey’s Clean Energy Program â„¢, gives us a great resource and champion to assist us in accomplishing our goals,” said Ades.
Lime Energy has provided their industry leading turnkey energy services programs for 12 of the top 25 utilities in America, including Public Service Electric & Gas, also based in New Jersey, and has been the top performing contractor for Direct Install from New Jersey’s Clean Energy Program â„¢, since 2010. Lime Energy has provided multi-measure energy efficiency upgrades to over 2,000 small and mid-sized facilities in New Jersey, including commercial businesses, local government buildings, and schools districts. To learn more about Lime Energy’s turnkey energy services platform for utilities and commercial businesses please visit, www.lime-energy.com.
About Lime Energy Co
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for small business and commercial customers, Lime designs and implements direct install programs for our utility clients which consistently exceed program savings goals. Our award-winning, integrated services programs provide utilities with reliable energy efficiency resources while delivering the highest levels of customer satisfaction. This next generation approach is helping utilities across the country to go deeper and broader with the cheapest, cleanest and fastest energy resource that we have – energy efficiency.
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.