CHP Systems To Be Installed For On-Site Utility Solutions

Tuesday September 9th 2014

LONDON, UK. – September 09, 2014 – EuroSite Power Inc., (OTCQB: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and leisure centres in the United Kingdom (UK) and Europe, has signed agreements worth approximately £3.78 (US$6.26) million with two hotels belonging to FJB Hotels.

 

Under the terms of the two 15 year agreements reached with FJB Hotels, highly efficient combined heat and power (CHP) systems will be installed, owned and operated by EuroSite Power at The Haven Hotel and Sandbanks Hotel, both located on the exclusive Sandbanks peninsula in Poole, UK.  The hotels will then buy the efficient energy produced by the systems from EuroSite Power at a rate guaranteed to be lower than if the hotels were to buy directly from the grid.

 

Together the CHP systems installed will produce up to 3,326,917 kWh of total energy per annum, while saving up to 472 tonnes of CO2 – equivalent to taking 100 cars off the road each year. The new contracts bring EuroSite’s portfolio of UK systems to 32 with a value to the company of £57.28 (US$94.60) million from units totalling 3,288 kW electrical capacity.

 

FJB Hotels is part of the FJB Collection - a group of hotels, restaurants, leisure complexes, holiday homes and office rentals in Dorset, UK.  The Haven Hotel located at the entrance of Poole Harbour offers 84 guest rooms, many of which overlook the harbour.  Sandbanks Hotel offers views of Old Harry Rocks, Poole and Bournemouth Bay, Hengisbury Head and the Isle of Wight.  Both are famous resort hotels with full spa and leisure clubs.

 

FJB Hotels Managing Director John Butterworth said: “Maintaining control of operating costs is essential to ensure we can provide the very best value to our customers.  With energy prices continuing to rise, a solution that allows us to manage the risk is very attractive. EuroSite Power offered the perfect solution of zero upfront capital costs with discounted pay-as-you-go energy. They were also able to demonstrate both an understanding of the needs of a hotelier and show us similar systems operating in other hotels across the UK.”

 

“Welcoming FJB Hotels as a customer further enhances EuroSite Power’s reputation within the important hospitality sector here in the UK,” stated Paul Hamblyn, Managing Director of EuroSite Power. “A total of nine hotels have already signed agreements with us this year and all will enjoy the benefits of low cost energy for years to come.”