Lime Energy Co. (NASDAQ: LIME) announced today their addition to NSTAR’s Municipal Program, which incentivizes municipalities to implement energy efficiency measures. The pre-selection of energy efficiency contractors is intended to streamline the procurement process for the municipalities that NSTAR currently serves.
Lime Energy is a pre-approved implementation contractor for this Program, and will provide comprehensive, multi-measure efficiency projects for municipal facilities throughout NSTAR’s service territory.
“With over 500 project audits and installations completed for municipalities in the Northeast over the past two years, Lime Energy is confident in our ability to assist NSTAR and their municipal clients.” noted Adam Procell, Executive Vice President at Lime Energy. “We understand the municipal process and we will offer competitive, one-stop Lime financing options in addition to the applicable Mass Save Program financing that is available.” By combining aggressive financing with generous incentives that are exclusive to the Preferred Vendor program, municipalities can achieve significant savings on their energy consumption while also freeing dollars for other important capital improvements and municipal needs.
The program was introduced as part of the Green Communities Act which authorizes State Agencies, Authorities and local governmental bodies to contract directly with their gas or electric utility supplier for energy conservation projects. “Qualifying Energy Conservation Measures valued at up to $100,000 are eligible through the program without any further procurement,” said Tom Pirone, Lime Energy’s Director of Utility Programs. “This creates an easy-to-use mechanism for Massachusetts municipalities to reduce their energy consumption and improve sustainability with extremely attractive paybacks.”
The overall objective of the Program is to provide retrofit opportunities for existing electrical and mechanical systems that are outdated or inefficient. The program offers NSTAR municipal customers the opportunity to receive financial incentives for improving the overall energy efficiency of their facilities. “We look forward to bringing our experience in similar programs to NSTAR’s municipal customers, and to offering simplified, low-cost solutions for energy reduction,” said John DiModica, Lime Energy’s Director of Business Development in the Northeast.
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 info@lime-energy.com.
FORWARD-LOOKING STATEMENTS
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.
