Two Menzies Hotels Saving with EuroSite Power
First Two Of Seven Hotel Contract Now Saving With Zero Capital Outlay
Thursday November 6th 2014
LONDON, UK. – November 6, 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, is now operating combined heat and power (CHP) systems at two Menzies hotels owned by Topland Group.
An 80kW unit at Menzies Aberdeen and a 160kW unit at Menzies Derby are the first to go live from a 7 hotel contract signed in April 2014. Under the terms of the 15 year agreement reached with hotel owners Topland Group, a total of 860 kW from seven modules of highly efficient combined heat and power (CHP) systems are being installed, owned and operated by EuroSite Power at seven of Topland’s UK hotels – Aberdeen, Bournemouth, Cambridge, Derby, Glasgow, Irvine and Stratford upon Avon. Together the CHP systems installed will produce up to 11,255,330kWh of total energy per annum, while saving up to 2,034 tonnes of CO2 – equivalent to taking 428 cars off the road each year.
Topland Group is one of the largest privately owned international investment groups whose principal activity is Commercial Real Estate, with a portfolio of over 270 properties, valued in the region of £4 billion. Topland has a strong track record of investing in the hotel sector. Investments include The Royal Crescent Hotel in Bath, a portfolio of Hilton hotels, a portfolio of Thistle hotels, the Welcome Break in North London, the Hallmark Hotel Group and the Menzies Hotel Group.
Lionel Benjamin, Director - Hotels for Topland Group, said: “Keeping our operating costs under control is fundamental and with EuroSite Power now operating two of their CHP systems we will start to see immediate savings especially as there was zero upfront capital cost.”
Paul Hamblyn, Managing Director of EuroSite Power, said: “We are pleased to announce that two of the units delivered under the seven hotel contract are now live. Each hotel is now saving real cash while also achieving a lower carbon footprint. The other installations are all progressing well and we plan to ensure each of the other properties are operating in time to maximize the benefit this winter.”