Lime Energy Co. (NASDAQ: LIME) announced today the award of a three year contract by AEP Ohio, a unit of American Electric Power (NYSE:AEP) for the implementation of their Small Business Direct Install Program. The AEP Ohio Express program serves small commercial customers with annual consumption of less than 200,000 kWh and provides significant incentives to help offset the costs of implementing energy efficiency upgrades. The 3-year performance-based contract between AEP Ohio and Lime Energy has the potential to save participating small business customers over 30,000 MWh of annual energy usage – lowering the cost of doing business in Ohio. AEP Ohio is headquartered in Gahanna, Ohio and provides service to over 1.5 million customers throughout the state. Lime Energy will be the exclusive provider of comprehensive energy efficiency upgrades for the program and anticipates the creation of numerous energy efficiency jobs as a result of the contract. AEP Ohio will incentivize their small business customers to reduce wasted energy and lower their monthly electric bills by paying up to 80% of the project cost to complete an energy retrofit. “The revitalized Small Business Express Direct Install Program is part of AEP Ohio’s ongoing commitment to provide value to our customers,” said Al Kohler, program coordinator of AEP Ohio’s Express Program. “Implementing Energy efficient technologies will allow small business owners throughout Ohio to create a better work environment and put money back in their pocket every month.” “Lime Energy has been at the forefront of delivering energy efficiency through utility programs since 2009,” said John O’Rourke, President and CEO at Lime Energy. “Lime is excited to bring our innovative SBDI model to the Midwest. Our proven technology platform and our unparalleled small business marketing and sales experience will ensure the success of this program for AEP Ohio while delivering the highest level of satisfaction to their customers.”
About Lime Energy CoLime Energy is a national leader in designing and implementing energy efficiency programs for utilities, government agencies and private enterprises. Our innovative solutions enable our clients to meet their energy savings and carbon reduction goals across a portfolio of facilities, driving increased profitability and competitiveness. We bring proven results and over 25 years of experience that enable us to scale energy efficiency programs to meet increasing clean energy regulations. FORWARD-LOOKING STATEMENTS This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy's current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as "may," "expects," "anticipates," "believes," “hope,” "intends," "estimates," "plan," "should," "typical," "preliminary," or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward- looking statements. These risks include those described in Lime Energy's most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; such factors are incorporated here by reference.