WALTHAM, Mass., Sept. 4, 2012 /PRNewswire/ -- American DG Energy Inc. (NYSE MKT: ADGE), a leading On‑Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and athletic facilities, today announced that it will benefit from an Executive Order from the White House "Accelerate Investment in Industrial Energy Efficiency." The goal of the Executive Order is to supply 40 gigawatts of energy by 2020 from greater efficiency such as Combined Heat and Power (CHP) systems. The Departments of Energy, Commerce, and Agriculture, and the Environmental Protection Agency, in coordination with the National Economic Council, the Domestic Policy Council, the Council on Environmental Quality, and the Office of Science and Technology Policy, shall coordinate policies to encourage investment in industrial efficiency in order to reduce costs for industrial users, improve U.S. competitiveness, create jobs, and reduce harmful air pollution. In doing so, they shall engage States, industrial companies, utility companies, and other stakeholders to accelerate this investment. In addition, the Department of Energy and the Environmental Protection Agency released a companion report to the Order that presented the economic and environmental benefits of CHP.
According to John Hatsopoulos, CEO of American DG Energy, "We are most excited by the strong statement of support by the US government. The Executive Order re-enforces American DG Energy's On-Site Utility business and efficient technology. The heightened action from the Executive Order will dramatically increase the awareness and education of CHP. American DG Energy is positioned well to help companies benefit from energy efficiency by offering the right technology with our On-Site Utility no capital offering."
On-Site UtilityAmerican DG Energy sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation and operating expenses are paid by American DG Energy.