This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

EuroSite Power Signs 6.6 Million Pounds Sterling Contract With Roko Health Clubs

WALTHAM, Mass., Oct. 15, 2012 /PRNewswire/ --  EuroSite Power Inc. (OTCQB: EUSP), offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the United Kingdom (UK) and Europe, today announced that it has signed a contract to provide on-site utility solutions at four sites operated by Roko Health Clubs in the UK. The total contract value of the four projects in Chiswick, Gillingham, Nottingham and Portsmouth to EuroSite Power is approximately 6.6 million pounds sterling.

Serving the 'premium affordable' health club market, every Roko Health Club provides luxury facilities and programming to their customers at sector beating prices. The clubs have indoor pools with spas, saunas and steam rooms, spacious and well equipped fitness arenas, dedicated group exercise studios, luxury changing rooms and Costa Coffee club lounges.  

Under the fifteen-year agreement, EuroSite Power will install and operate combined heat and power (CHP) systems at each of the four health clubs.  EuroSite Power will produce clean energy in the form of electricity, heating and domestic hot water for each health club at a price lower than the clubs' current and future energy suppliers.  Because Roko opted for EuroSite's On-Site Utility solution, the clubs will pay only for the energy used and will avoid all capital, installation and operating costs.  EuroSite Power will also handle all service, maintenance and repair, meaning the clubs will not need to provide manpower to support the energy equipment. The four projects combined will produce approximately 6.6 GWh of total energy per annum, while saving up to 694 tonnes of CO2 each year. 

Neil Stanton, Roko Health Clubs' Operations Director, said: "We anticipate a material reduction in both our annual energy bill and CO2 production. Moreover, these improvements are made without capital outlay or financial risk to Roko Health Clubs. In addition, by displacing electricity consumption from the grid with generation from an on-site CHP unit we believe EuroSite Power's solutions provide the opportunity to address some of the financial and administrative challenges posed by the CRC Energy Efficiency Scheme."

Paul Hamblyn, Managing Director of EuroSite Power said: "In 2012, EuroSite Power has booked an estimated 20 GWh of total energy per year for an approximate total revenue value of 29.5 million pounds sterling over the term of the contracts.  We are very excited that more and more customers are recognizing the value of our standard On-Site Utility solution and I am delighted to welcome Roko Health Clubs to our growing family of customers."

On-Site Utility

EuroSite Power 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, operating expenses and support are paid by EuroSite Power.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs