WALTHAM, Mass., July 9, 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 publicly owned Bury St Edmunds Leisure Center in Suffolk, UK.
Under the terms of the agreement signed with Abbeycroft Leisure, EuroSite Power will install and operate a CHP system at the site located in the historic market town of Bury St Edmunds. The new 100kW CHP system will generate approximately 1.6GWh of total energy per annum while saving up to 240 tonnes of CO2 each year. With a total revenue value of approximately 2.2 million GBP ( $3.3 million US) over the term of the 15 year agreement the contract for Bury St Edmunds means that EuroSite Power now has contracts in place totaling some 34.4 million GBP.
Abbeycroft Leisure is already enjoying the benefit of EuroSite's guaranteed low price, low carbon energy at their Haverhill Leisure Center site and were keen to replace their aged CHP installation at Bury St Edmunds. By opting for EuroSite's On-Site Utility solution, Abbeycroft Leisure will pay only for the energy used and will avoid all capital, installation and operating costs. This capital free, risk free approach to on site energy generation is increasingly gaining popularity within the UK leisure industry and Bury St Edmunds becomes the latest facility to join EuroSite Power's portfolio of customers within the sector.
Paul Hamblyn, Managing Director of EuroSite Power said: "Our On Site Utility solutions consistently deliver good results and Abbeycroft Leisure's decision to add Bury St Edmunds to their contract demonstrates that our approach works. Leisure centers and health clubs remain an important part of our growth strategy within the UK market and adding another facility just strengthens our position in this sector."Simon Ginders-Coxshall, General Manager of Abbeycroft Leisure said: "The CHP system at Bury St Edmunds needed updating but we needed a solution that required no investment from us or the local authority. EuroSite Power's approach means we can have new equipment while enjoying a saving from day one."