ELK GROVE VILLAGE, Ill., Dec. 7, 2010 (GLOBE NEWSWIRE) -- Lime Energy (Nasdaq:LIME) announced that it has received a contract with an ESCO partner for 50 schools in Prince George County, MD. The project consists of water retrofit upgrades and building envelope improvements for energy efficiency. The company has been working for several months at each location to develop and present the final scope and total savings. Under the contract, Lime's Public Sector division (formerly known as Applied Energy Management) will provide the installation of water saving technologies including new low flow water closets, the retrofit of urinals, new showerheads, and faucet aerators. Total water savings is estimated to be over 18.7 million gallons per year.
Lime Energy will also install new weather stripping for all exterior main doors and garage doors, sealing all penetrations such as around the air conditioning equipment, roof penetrations, soffits and all openings to the exterior that allows infiltration to the conditioned space. This will reduce the total energy used during both cooling and heating seasons which will substantially reduce cost and fuel consumption.
"This project is another great example of cost savings for local government," said Jim Smith, President of Lime Energy Public Sector division. "Projects like this simply eliminate unnecessary costs by reducing energy and water waste. We are thrilled to be writing another chapter in our eleven-year relationship with our ESCO partner to provide these important conservation measures."
About Lime Energy Co.
Lime Energy is a leading provider of energy efficiency solutions. Our services include integrated energy engineering, consulting and implementation of solutions which enable our customers to reduce their facilities' energy consumption, lower their operating and maintenance costs and reduce their carbon footprint. We focus on solutions which include lighting, mechanical and electrical upgrade services, water conservation, weatherization and renewable project development and implementation. We provide these solutions to the commercial and industrial markets, utilities, energy service companies and the government sector across a wide range of facilities including high-rise office buildings, manufacturing plants, retail sites, mixed use complexes and large government sites. The company's stock is traded on NASDAQ under the symbol LIME. Additional information is available at the company's website at www.lime-energy.com or by calling 847-437-1666.
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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 in 2010 and beyond 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.
CONTACT: Bristol Capital Ltd. Investor Relations Glen Akselrod (905) 326-1888 email@example.com