This Day On The Street
Continue to site
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

EuroSite Power Begins Providing Cost Savings To London Syon Park

WALTHAM, Mass., Jan. 8, 2013 /PRNewswire/ -- EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centers in the United Kingdom (UK) and Europe, announced that it is now operating a combined heat and power (CHP) system supplying clean energy to London Syon Park, a Waldorf Astoria Hotel.  The revenue value to the Company is 3.65 million GBP ( $5.93 million USD) over the 30-year term.

Under the terms of the agreement with the hotel's owners, The Ability Group, announced in 2012, EuroSite Power has installed a CHP system at the luxury hotel situated at the edge of the two hundred acre Syon House estate that has served as the country home of the Duke of Northumberland for over 400 years.

The EuroSite Power On-Site Utility Solution commissioned in December 2012 has begun delivering immediate energy savings to London Syon Park with zero capital outlay by the hotel. 

The clean energy system owned and operated by EuroSite Power is a highly efficient 100 kW CHP system, producing energy in the form of electricity, space heat and domestic hot water for the hotel's guest rooms, public areas and back-of-house. Now operational, the system is expected to produce most of the domestic hot water and heating for the hotel's spa, and overall the CHP is expected to produce 530 MWh of electricity and 1,090 MWh of heat per annum.

Head of The Ability Group's Hotel and Leisure Division, Lionel Benjamin, said: "With EuroSite Power's On-Site Utility, London Syon Park only pays for the energy used and avoids all capital, installation, operating and maintenance costs of the CHP system.  In addition, the energy produced is priced lower than existing and future utility costs providing immediate and on-going cost savings."

"CHP systems are a cleaner energy option, offering considerable environmental benefits when compared with electricity from the grid and conventional boiler systems. Recognized as a low carbon technology, the system will reduce the hotel's CO2 emissions by some 147 metric tons, which in turn reduces the impact of taxes such as the Climate Change Levy and CRC Energy Efficiency Scheme. With the operation of an On-Site Utility, the hotel is now also contributing to the quality of the environment with the reduction in carbon emissions."

1 of 3

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs