Lime Energy Completes Energy Efficiency Projects for Hines
ELK GROVE VILLAGE, Ill., Sept. 8 /PRNewswire-FirstCall/ — Lime Energy , a leader in energy efficiency solutions, today announced the completion of five energy efficiency retrofit projects for Hines, a global real estate leader. The retrofits covered 200,000 square feet of office and R&D space in Hines’ northern California facilities.
“These projects represent a very simple formula for us — energy efficiency retrofits equal reduced operating expenses and increased asset values,” said Clarke Miller, Assistant Project Manager with Hines and Asset Manager for 1.6 million square feet in Silicon Valley. “First, the energy savings reduce expenses in the common areas and for the tenants. Second, the new fixtures are a major part of upgrading the classification of these buildings, making them more attractive assets in our portfolio.”
In addition to utility bill savings, the permanent reduction of 274,251 kilowatt-hours per year in energy use generates the following environmental benefits each year:
— Avoids the emission of 493,652 pounds of carbon dioxide, which is the leading cause of global warming
— Avoids the emission of 6,269 pounds of sulfur dioxide, which is the leading cause of acid rain
— Avoids the emission of 2,110 pounds of nitrogen dioxide, which is the leading cause of smog and acid precipitation
— The emissions avoided are the equivalent of removing 43 passenger cars from the road
“Businesses here in Silicon Valley are looking for workspaces that are more productive and ecologically intelligent,” continued Miller. “With the help of Lime Energy, we are able to provide both in a way that makes sound financial sense. With our retrofits, these buildings are really quite different than they were before.”
“We at Lime Energy are proud to be involved in this project with Hines,” said Dom Walterspiel, Sr. Account Executive with the Lime Energy Western Region. “These projects represent the ultimate in resource conservation because by making these upgrades, we are almost recycling the buildings to make them more useful again. You could say that we are off-setting the need to build new structures, which shows benefits and tremendous opportunities to grow and improve existing infrastructure.”
About Hines
Hines is a privately-owned, global real estate firm involved in investment, development and property management. The firm’s portfolio includes office, mixed-use, industrial, distribution, hotel, medical, retail and sports facilities, as well as large, master-planned communities and land developments.
Hines has more than 75 projects (50+ million square feet) that are LEED Certified, Pre-Certified or Registered, and has helped over 125 buildings (75+ million square feet) earn the ENERGY STAR label. With controlled assets valued at approximately $22.9 billion, offices in 69 cities and 15 other countries, and over 3,500 passionate and experienced professionals, Hines is one of the largest sustainable real estate organizations in the world. Visit http://www.hines.com/ to learn more.
About Lime Energy Co.
Lime Energy is a leading provider of energy efficiency solutions that enable our clients to reduce their energy-related expenditures and the impact of their energy use on the environment. Our clients include commercial and industrial businesses, property owners and managers and energy service companies serving government and educational institutions. Our core Energy Efficiency Services business provides energy engineering and consulting services as well as the development and implementation of energy efficiency lighting upgrade services, mechanical and electrical conservation services, water conservation services and renewable energy solutions. Through our Energy Technology business, we also offer a proprietary line of intelligent controllers that provide continuous management of HVAC and lighting equipment using wireless communication technology in order to reduce energy usage and improve system reliability. The company’s stock is traded on NASDAQ under the symbol LIME. Additional information is available at the company’s website at http://www.lime-energy.com/ or by calling 847-437-1666.
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,”"intends,”"estimates,”"plan,”"should,”"typical,”"preliminary,”"hope,” 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 in 2008 and beyond to differ materially from those expressed in, or implied by, these forward- looking statements. These risks are referenced in Lime Energy’s current Annual Report on form 10-K or as may be described from time to time in Lime Energy’s subsequent SEC filings; and such factors as incorporated by reference.
Contacts: Media Relations Investor Relations Sean Gibson Glen Akselrod Bite Communications Bristol Capital Ltd. (415) 365-0395 (905) 326-1888 sean.gibson@bitepr.com glen@bristolir.com
Lime Energy
CONTACT: Media Relations, Sean Gibson of Bite Communications,+1-415-365-0395, sean.gibson@bitepr.com; or Investor Relations, Glen Akselrodof Bristol Capital Ltd., +1-905-326-1888, glen@bristolir.com, both for LimeEnergy
Web site: http://www.lime-energy.com/