Woodbridge, NJ, March 8th, 2016– Lime Energy Co. (NASDAQ: LIME) announced today it has received a one-year contract extension with an estimated value of $12 million from New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E). The Small Business Energy Efficiency Program is designed to provide energy efficiency solutions to NYSEG and RG&E’s hard-to-reach small business customers. The successful partnership between Lime Energy and the utility began in 2010 and has been extended once before in 2012.
Since 2010, Lime Energy has enrolled over 18,000 businesses in the program and has helped them become more energy-efficient by upgrading inefficient interior and exterior lighting and commercial refrigeration equipment. These much needed upgrades collectively save customers over 208,000 MWh per year, which is equivalent to reducing 158,101 tons of CO2 emissions. In addition, small business owners are estimated to save over $17 million in annual energy costs. “Lime Energy’s unique approach to small business customers has enabled them to take advantage of utility incentives and save millions on their utility bills,” said Adam Procell, Lime Energy’s President and CEO. “The money saved from reduced energy costs gets invested back into these businesses and the communities they live in, which contributes to economic growth and stability.”
In addition to helping small businesses across New York State, Lime Energy will be able to support the local economy by directly providing 35 green jobs and generating work for dozens of local contractors. To learn more about Lime Energy please visit www.Lime-Energy.com. To learn more about the NYSEG|RG&E Small Business Energy Efficiency Program please visit www.NYSEG.com or www.RGE.com or call 1-877-359-9814.
About Lime Energy Co.
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for small business customers, Lime Energy 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 press 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,” “intends,” “estimates,” “plan,” “should,” “typical,” “preliminary,” “hope,” 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 in the remainder of 2016 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks and uncertainties are 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 herein by reference.
Lime Energy Media Relations