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 Gets More Active With Roko Health Clubs

Stocks in this article: ADGE

WALTHAM, Mass., May 28, 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 has signed a new contract to supply a combined heat and power (CHP) system to the Roko Health Club site in York, UK and is also now operating its CHP system supplying clean energy to the Roko Health Club in Nottingham, UK.

Under the new agreement EuroSite Power will install and operate a CHP system at the club's site in the medieval city of York. This brings the total number of systems under contract with Roko to five with York joining sites at Chiswick, Gillingham, Nottingham and Portsmouth in enjoying the benefit of guaranteed low price, low carbon energy. Because Roko opted for EuroSite Power's On-Site Utility solution, the club 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 system supplies electricity to the club together with heat and hot water to serve both the club and its indoor and outdoor swimming pools.

The York installation will produce 558,450 kWh of electricity or approximately 1.3 GWh of total energy per annum, while saving up to 123 tonnes of CO2 each year. With a total revenue value of approximately 1.37 million GBP over the term of the 15 year agreement the contract for York means that EuroSite Power now has agreements in place for all the clubs operated under the Roko brand.

Paul Hamblyn, Managing Director of EuroSite Power said: "Leisure centres and health clubs remain an important part of our growth strategy, within the UK market. We strive hard to deliver high quality solutions that deliver good results and the fact that Roko have decided to add another site to their contract speaks volumes."  

Neil Stanton, Roko Health Clubs' Operations Director, said: "We are delighted to have our third system operating. Both our sites in Gillingham and Portsmouth have already begun enjoying savings and we now look forward to seeing similar results at Nottingham. By adding York we have now ensured all our clubs will see a material reduction in both annual energy bills and CO2 emission and all without the need for any capital outlay for Roko Health Clubs."

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

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,280.06 +88.69 0.52%
S&P 500 2,003.57 +1.41 0.07%
NASDAQ 4,631.28 -6.7140 -0.14%

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