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N.C. A&T State University Selects NORESCO For $3.8 Million Energy Infrastructure Project

GREENSBORO, N.C., June 12, 2014 /PRNewswire/ --  North Carolina Agricultural and Technical State University (N.C. A&T) and NORESCO, a national leader in energy efficiency and energy infrastructure solutions, have entered into a $3.8 million guaranteed energy savings agreement for work on the Greensboro, North Carolina, campus. NORESCO specializes in the development, design, construction, financing and operation of energy- and environmental-efficiency projects and is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp. (NYSE: UTX).

The project is funded by reductions in energy usage over a 17.25-year contract term, with no upfront cost to taxpayers for improvements to university buildings and systems. It includes lighting, steam system and weatherization improvements, installation of new heating, ventilation and air conditioning (HVAC) controls, retro-commissioning at selected buildings and a preventive maintenance program. Construction is expected to occur over 14 months.

As part of the agreement, NORESCO guarantees annual energy consumption savings of more than $300,000 after the improvements are fully implemented. Energy reductions will also reduce the carbon footprint of the university, with an expected annual improvement equivalent to removing 881 cars from the roadways.

N.C. A&T began collaboration with NORESCO in 2012 to deliver the university's first energy savings performance contract to identify opportunities and implement initiatives designed to conserve energy, reduce costs and create sustainable solutions for the campus. Improvements to buildings, infrastructure and learning environments will support the university's continuing growth from its roots as a land-grant institution, established in 1891, to contemporary leadership roles in fields such as nanotechnology, biotechnology, energy and the environment.

"The university's leadership understands that in order to effectively accomplish the goals outlined in N.C. A&T's Preeminence 2020 plan, we must have efficient facilities," said Andrew Perkins, associate vice chancellor of facilities, N.C. A&T State University. "With NORESCO's help, we are transforming an engineering and construction project into teachable moments that support A&T's core goals across many dimensions."

University students participated hands-on as the project began with energy audits of campus buildings and equipment. Other university students and students from local K-12 schools gained exposure to the project and the energy-efficiency industry through campus educational events, such as Earth Day programs and energy fairs. The local economy benefits from NORESCO's subcontracting plan, developed in conjunction with the university, which calls for use of local and in-state talent to deliver the majority of the project. A significant portion of work is expected to be subcontracted to minority firms.

"N.C. A&T leaders recognized the environmental and financial benefit of reducing energy consumption and applying the value of energy savings to building improvements," said Jim Williams, regional general manager, NORESCO. "NORESCO is pleased the university has entrusted a project to us that will deliver energy savings and fuel the intellectual enthusiasm of students, faculty and staff members."

Added Melissa Hargrove, senior account executive, NORESCO, "Not so long ago, I was a student at N.C. A&T taking the same engineering courses that current students I've met are taking. I am proud to support my alma mater as both an alumna and a contractor, and I am excited about the building improvements the university and NORESCO will deliver to the campus community together."

About North Carolina Agricultural and Technical State University

Established in 1891, North Carolina Agricultural and Technical State University is a public, doctoral/research, 1890 land-grant university committed to exemplary teaching and learning, scholarly and creative research, and effective engagement and public service. The university offers degrees at the baccalaureate, master's and doctoral levels and has a commitment to excellence in a comprehensive range of academic disciplines. Our unique legacy and educational philosophy provide students with a broad range of experiences that foster transformation and leadership for a dynamic and global society. With an enrollment of nearly 11,000 students and a workforce of more than 2,000, A&T is the largest historically black university in The University of North Carolina system.

About NORESCO As one of the largest energy services companies in the U.S., NORESCO utilizes design-build, performance-based contracting vehicles and asset monetization solutions to deliver energy and maintenance savings and significant infrastructure upgrades to existing facilities. NORESCO has guaranteed more than $3 billion in energy and operating cost savings at more than 7,000 facilities throughout the U.S. and abroad. NORESCO also offers a full suite of consulting services to integrate sustainable design strategies into new construction and existing buildings. NORESCO is a part of UTC Building & Industrial Systems, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.noresco.com.

SOURCE NORESCO

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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