American DG Energy Inc. (OTC Bulletin Board: ADGE), an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and athletic facilities, announced an agreement to supply energy to Carleton-Willard Village, a not-for-profit continuing care retirement community (CCRC), located in Bedford, Massachusetts. As part of the agreement, Carleton-Willard, will soon receive a sizable portion of its energy from an On-Site Utility energy system, which will be owned and operated by American DG Energy. Carleton-Willard will receive a discount on the energy produced by the On-Site Utility and reduce its carbon footprint by up to 660 tons of carbon dioxide per year. The value of the deal is $2.2 million, which reflects the recent drop in energy prices.
American DG Energy will produce clean energy in the form of electricity, space heat and hot water at Carleton-Willard’s Nursing and Rehabilitation Center building and sell it to Carleton-Willard at a price lower than the local energy utility. Carleton-Willard will pay only for the energy they use and will avoid all capital, installation and operating costs. The energy will be produced with small-scale, combined heat and power (CHP) equipment, up to 150 kW, located at the property site but owned and operated by American DG Energy. Since the Company will also handle all service, maintenance and repair, Carleton-Willard will not need any manpower to support the equipment.
"I’m excited about the project and looking forward to its implementation," said Paul Lund, Director of Facilities Management. "The energy cost savings will free-up funds in the budget while the impact on our carbon footprint pleases us as well as our residents, many of whom are concerned about the environment and want to be part of a community that does what it can to reduce its carbon footprint."