Newark, NJ, April 21, 2016– Lime Energy Co. (NASDAQ: LIME), today announced that Bruce Torkelson will be joining the organization as its new Chief Financial Officer on May 2, 2016. Lime Energy’s current Chief Financial Officer, Mary Colleen Brennan, will be stepping down from her position, but will remain with the company until May 31, 2016 and will work closely with Mr. Torkelson to ensure a smooth transition.
Ms. Brennan joined the company in 2014 and Lime Energy recognizes her commitment and contribution to the organization during a pivotal time. Lime Energy President and CEO, Adam Procell said, “Colleen came to Lime Energy at a critical juncture in our growth. She instilled professionalism in our accounting and compliance, and during her two years as CFO, Lime Energy saw its revenue more than double while establishing a national footprint.”
Mr. Torkelson has served as Corporate Vice President — Financial Planning of CalAtlantic Homes since January 2010 where he focused on long-term planning and strategic initiatives. Previously, he served as Vice President — Corporate Operations of Standard Pacific Homes, one of the nation’s largest and most respected homebuilders. “This move is one that will help lay the groundwork for Lime Energy’s continued development,” said Mr. Procell. “As Lime Energy prepares for the next phase of its growth, adding new products and services to serve new markets, we are excited to add Bruce Torkelson to our executive team. Bruce’s vast experience with large public companies is well aligned with Lime Energy’s market opportunity.”
“It is extremely exciting to join Lime Energy,” said Mr. Torkelson. “I am looking forward to being a part of the company’s growth as it builds on its success delivering energy efficiency solutions across the nation. I am honored to become part of the dedicated Lime Energy team and serve its customers, utility partners, and shareholders.”
About Lime Energy Co.
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for utilities’ small business customers, Lime designs and implements direct install programs for our utility clients which have consistently exceeded 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.
Lime Energy Investor Relations
Corporate Communications Director