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In 2016 Eurosite Power Inc (EUSP) CEO Elias Samaras Bought $1,000,000 of Shares
https://finance.yahoo.com/news/eurosite-power-inc-eusp-ceo-031501528.html
American DG Energy American DG Energy, now Tecogen Inc. (Nasdaq-TGEN $1.72) can be considered the parent of EuroSite Power. It was founded in 2001, and basically has the same strategy as EuroSite Power, except that it offers its services in the United States. After American DG Energy was in operation for a few years, it spotted an opportunity to implement its business model in Europe. It did so by founding EuroSite Power. Today, American DG Energy owns approximately 25.7% of EuroSite Power’s outstanding common stock and it provides management oversight to the Company. Finally, American DG Energy has a related company, Tecogen Inc., which is a major equipment supplier to both American DG Energy and EuroSite Power. Competition EuroSite Power competes with utilities that provide electricity, with companies that provide similar services, and with other forms of alternative energy. Companies that provide similar services include Siemens AG, Honeywell International Inc. and Johnson Controls Inc.
Added here on the dip, ton of action going on here with crickets on the board
$EUSP Amazing DD >>
Pink Current
Penny Stock Exempt
No Dilution
No Convertibles
$12m Assets
$1.9m Liabilities
100m AS
87m OS
49.7m Restricted
15.8m Float
Lifetime $7m Revenues totalling a Portfolio of $103m
PROFITABLE During Covid
https://t.co/Opew73vAaI https://t.co/HBNSQTk3N3
Monster News EuroSIte Power announces completion of final Club Company installation providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity. $EUSP
Press Release | 03/11/2021
EuroSite Power Inc., (OTCQX: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, has now completed installation of the final of five combined heat and power (CHP) systems contracted with the Club Company. The five sites are located across the UK and will add 390kW to the Companys fleet of generation assets.
The Club Company owns and operate 15 Country Clubs in the UK, combining a traditional golf environment with state-of-art health & fitness facilities, 5 of the clubs have on site accommodation ranging from 7 to 56 bedrooms. They have won several prestigious Flame Awards (at both club and operator level) which recognise high levels of service within the health and fitness industry. The clubs c. 40,000 members can benefit from a variety of facilities, including gym, group fitness studios, swimming pools, wet spa, crche, health and beauty, tennis, championship golf courses, bar, restaurant and lounges with free Wi-Fi.
Under the terms of EuroSite Powers innovative 15 year On-Site Utility agreement the Club Company will benefit from high efficiency CHP systems that will provide energy in the form of heat and electricity at five of their Country Clubs. This energy is provided at a guaranteed lower rate than if the facility were to buy directly from the utility. With the final system now installed The Club Company will be able to benefit from up to 5,517,486 kWh of their annual energy needs using these on-site systems, giving them an estimated annual energy cost savings over 78,000 (US$108,000), with no capital or maintenance costs.
Providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity.
Club Company Director Paul Stephens said, "EuroSite Powers team worked with us to identify the clubs where we could benefit from adopting their On-Site Utility solution. Like all businesses cash flow is a vital concern so, with zero upfront costs, and immediate, guaranteed, risk-free savings, the EuroSite Power solution makes perfect sense. Coupled with the experience of the EuroSite Power team it made it a simple decision to sign the deal. Their experience in the hospitality industry showed through in the way they were able to swiftly tailor a bespoke technical and financial solution to maximise our savings."
Paul Hamblyn, Chief Operating Officer of EuroSite Power, added, "Despite the challenges of the pandemic all systems within our project backlog have now been commissioned increasing our operational fleet to 48 units. This project was made possible by the desire of the Club Company team to control their energy costs and our ability to work with them to deliver a tailored On-site Utility solution. This project shows that, as we move towards net zero, CHP can still deliver attractive long term savings for end users through its improved efficiency."
On-Site Utility (OSU)
EuroSite Power sells the energy produced from an on-site energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the electricity or total energy produced by the system and receive either a guaranteed discount rate on the price of total energy or a fixed price for electricity. All system capital, installation, system maintenance and support are paid by EuroSite Power, and in the case of No Risk On-Site Utility solution customers all system fuel costs are also paid by EuroSite Power.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
I could careless, their Financials are pretty damn good, the business model even better. You clearly don't see it that way and probably sold out at a very low PPS. Good luck...
So the correct answer is... Smallcaps Investment Research which has been compensated by EuroSite Power Inc. to develop and execute a communication plan to enhance the Company’s exposure to the investor community.
I can't believe I'm answering this question but I will.
OUTLOOK & VALUATION
More and more hotels, leisure centers, and fitness clubs are seeking energy- and environmentally friendly solutions for their electricity, hot water, heat and cooling needs.
Because capital budgets have shrunk or disappeared, EuroSite Power’s On-Site Utility approach, requiring no customer capital, fits
today’s market needs very well.
EuroSite Power sells the energy produced from an onsite energy system to an individual
property as an alternative to the outright sale of energy equipment. In this scenario, EuroSite Power pays for the cogeneration equipment, installing the unit, the gas to run
the installation, and it's maintenance.
In return, the customer only has to pay for the generated electricity, heat and cooling over a set period of time – usually 15 years.
In addition, the cost of the generated energy is guaranteed to be lower than the displaced energy from the grid. In addition, while saving money, EuroSite Power’s systems help to conserve energy, reduce emissions and improve the environment. Customers are also concerned
about electricity prices that are expected toincrease significantly in Europe in the coming years and about potential power cuts, as
there is a narrowing between generation capacity and demand for the first time ever. This makes CHP units even more attractive as
they can operate independent of the grid. As a bonus, significant incentives, rebates and support are available for the installation and
operation of CHP systems in Europe, as government policy in Europe favors energy-efficient and environmentally friendly
technologies and businesses. In May 2015, EuroSite Power received over US$625,000 as a UK tax incentive. And in January of 2016, it
received another US$360,000.
The Company achieved a significant rise in both revenues and energy production in the first quarter of 2016. In addition, its gross margins substantially improved, as well as the fleet’s availability.
EuroSite Power aims to grow its number of CHP systems in operation organically. These efforts are aided by the project financing agreements which were executed with Societe
Generale Equipment Finance and Macquarie Equipment Finance during the first quarter of
2016. These agreements eliminate capital constraints on projects. In other words, any project, no matter what size, which meets the Company’s return hurdles, may now be
pursued. Within its current pipeline, the Company has
plenty of parties with which it’s actively negotiating. During the conference call, following the release of the first quarter
financials, it was mentioned that three new onsite utility agreements for leisure centers may be close to signing. Also, a term sheet
has been signed for a 400kW unit in a major hotel. Definite agreements for these four projects have yet to be signed, but each project did already receive credit approval from one of
the two major financial institutions. In addition, the Company is competing for a 330kW installation at a major British university, and it’s negotiating with a couple of parties for multi-unit installations. Next to growth within the UK market, the
Company signed a collaboration agreement with Czech CHP manufacturer TEDOM to promote EuroSite Power's On-Site Utility
solutions via more than 30 TEDOM dealers across the European Union and Turkey. The agreement allows dealers to offer an On-Site
Utility solution to their customers as an alternative to buying a CHP system outright. EuroSite’s management aims to secure at
least one sale in mainland Europe before the end of 2016.
Dr. Elias Samaras, EuroSite’s acting Chairman and CEO, has also expressed that the Company is actively searching to acquire
existing CHP or similar installations. Funds from the recent US$7.25 million private placement should allow EuroSite to pursue this goal.
Valuation
Given the still emerging nature of EuroSite Power’s earnings, a multiple-based valuation is challenging. Instead, we apply a Discounted Cash Flow (DCF) model.
Based on our estimate of 77 million shares outstanding, the intrinsic value of EuroSite Power’s shares derived from our model is US$2.74, which is slightly up from US$2.67 in
our previous report. This is justified as gross margins are increasing substantially thanks to the implementation of the four pillars of growth.
Based on these numbers, we reiterate our buy recommendation for EuroSite Power Inc. with a price target of US$2.74, which is 286% above today’s stock price.
https://sec.report/otc/financial-report/157753/Small-Caps-Research-Company-Report.pdf
'$EUSP had a BUY recommendation for EuroSite Power Inc.' Who put out the buy recommendation? Your statement sounds like they made a buy rec on themselves.
Price Target of US $2.74, Assets Increased, Liabilities Decreased and Revenues/EBITDA are Stronger. In 2015 Based on smaller numbers and similar Share Structure, $EUSP had a BUY recommendation for EuroSite Power Inc.
Intro Board Updated, Amazing Future. $EUSP
Absolutely No Convertible Debt, $1.1m in Cash.
Wow, Providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity.
EuroSite Power announces completion of final Club Company installation
Press Release | 03/11/2021
EuroSite Power Inc., (OTCQX: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, has now completed installation of the final of five combined heat and power (CHP) systems contracted with the Club Company. The five sites are located across the UK and will add 390kW to the Companys fleet of generation assets.
The Club Company owns and operate 15 Country Clubs in the UK, combining a traditional golf environment with state-of-art health & fitness facilities, 5 of the clubs have on site accommodation ranging from 7 to 56 bedrooms. They have won several prestigious Flame Awards (at both club and operator level) which recognise high levels of service within the health and fitness industry. The clubs c. 40,000 members can benefit from a variety of facilities, including gym, group fitness studios, swimming pools, wet spa, crche, health and beauty, tennis, championship golf courses, bar, restaurant and lounges with free Wi-Fi.
Under the terms of EuroSite Powers innovative 15 year On-Site Utility agreement the Club Company will benefit from high efficiency CHP systems that will provide energy in the form of heat and electricity at five of their Country Clubs. This energy is provided at a guaranteed lower rate than if the facility were to buy directly from the utility. With the final system now installed The Club Company will be able to benefit from up to 5,517,486 kWh of their annual energy needs using these on-site systems, giving them an estimated annual energy cost savings over 78,000 (US$108,000), with no capital or maintenance costs.
Providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity.
Club Company Director Paul Stephens said, "EuroSite Powers team worked with us to identify the clubs where we could benefit from adopting their On-Site Utility solution. Like all businesses cash flow is a vital concern so, with zero upfront costs, and immediate, guaranteed, risk-free savings, the EuroSite Power solution makes perfect sense. Coupled with the experience of the EuroSite Power team it made it a simple decision to sign the deal. Their experience in the hospitality industry showed through in the way they were able to swiftly tailor a bespoke technical and financial solution to maximise our savings."
Paul Hamblyn, Chief Operating Officer of EuroSite Power, added, "Despite the challenges of the pandemic all systems within our project backlog have now been commissioned increasing our operational fleet to 48 units. This project was made possible by the desire of the Club Company team to control their energy costs and our ability to work with them to deliver a tailored On-site Utility solution. This project shows that, as we move towards net zero, CHP can still deliver attractive long term savings for end users through its improved efficiency."
On-Site Utility (OSU)
EuroSite Power sells the energy produced from an on-site energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the electricity or total energy produced by the system and receive either a guaranteed discount rate on the price of total energy or a fixed price for electricity. All system capital, installation, system maintenance and support are paid by EuroSite Power, and in the case of No Risk On-Site Utility solution customers all system fuel costs are also paid by EuroSite Power.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
Possibly the Sleeper of he OTC.
$EUSP .097
$3m Market vs $12m Assets, $1m Liabilities
$2m to $3m Revenues, Profitable
Huge Contracts
EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity.
Going to get crazy around here real soon, i think this is the next one to run to dollar land.
Amazing Share Structure >>
Market Cap ?
3,825,254
03/18/2021
Authorized Shares
100,000,000
03/15/2021
Outstanding Shares
82,263,525
03/15/2021
Restricted
49,682,486
03/15/2021
Unrestricted
32,581,039
03/15/2021
Held at DTC
30,620,815
03/15/2021
Float
15,792,082
12/31/2020
Par Value
0.001
On-Site Utility Solution delivers real cost savings by efficiently generating low cost, low carbon energy on your property using highly efficient mechanical plant such as Combined Heat and Power (CHP) or natural gas fuelled air source heat pumps or chillers.
Is this a shell company? looking for some good shells.
Majority shareholder (35%) is Trifon Natsis.
Do the DD! This is like finding an American penny stock company with Warren Buffet as the majority shareholder.
I’m holding long here bc between Natsis $10B Hedge Fund connections & Boris pushing UK towards cleaner energy, this is cheap, cheap, cheap..
$EUSP EuroSite Power Reports Third Quarter 2020 Financial Performance
Earnings Announcement | 11/12/2020
November 12, 2020
OTC Disclosure & News Service
Macclesfield, United Kingdom —
This release includes additional documents. Select the link(s) below to view.
EUSP Q3 2020 financial statements.pdf
EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, reported that challenging trading conditions resulting from the COVID-19 crisis continued throughout the third quarter 2020, but that non-GAAP adjusted EBITDA for the nine months ending September 30, 2020 totalled $71,387 compared to a negative $33,658 for the same period in 2019, a swing of $105,044 or 312%. Third quarter 2020 revenues reduced 24.07% to $674,470 when compared to the $888,249 revenues posted for third quarter 2019. Although less than the prior year, third quarter revenues increased by 64.67% or $264,869 when compared to the prior quarter. This followed the easing of COVID restrictions in the UK through the third quarter.
The UK operating company reported a positive 41,775 EBITDA for the third quarter (Q3 2019: 21,767). This followed management actions to lower operating expenses and the return of revenues due to the easing of lockdown measures. The UK company also reported that it has achieved a positive EBITDA in each of the first 9 months of 2020.
Liquidity also remained stable with $1,111,077 of cash or cash equivalents on September 30, 2020, a reduction of $148,841 when compared to the $1,259,918 on hand on June 30, 2020.
As previously stated lockdown measures in the UK began easing for the Companys customers early in July with hotels able to reopen, but indoor fitness studios, gyms, swimming pools, spas and other indoor leisure centers were not permitted to reopen until mid-August. This resulted in generation output in the third quarter 2020 falling by 3,851,186 kWh compared to the third quarter 2019, a reduction of 31.20% however, the third quarter saw an increase of 64.81% compared to the prior quarter with energy output totalling 8,491,029 kWh. While energy generation since the end of the quarter has return to near seasonal norm the recent decision to reimpose lockdown measures in England from November 5, 2020 is expected to have some impact on fourth quarter performance.
Speaking about the third quarter results Dr Elias Samaras, CEO said COVID has continued to have a considerable impact on our performance. Generation and, therefore, revenues are down compared to last year but the fact we have maintained a positive EBITDA is testament to the swift actions taken by management and hard work of the whole team. The fourth quarter will test us again, but we remain confident we can weather the storm.
Although energy generation initially returned quite slowly once the hotels reopened this accelerated as the leisure centers opened in August. We also managed to bring three new sites into operation during the quarter so by the end of the quarter our monthly revenues were down by around 10% compared to 2019 said Paul Hamblyn, Chief Operating Officer and Managing Director. Business development is proving a challenge in our traditional hospitality and leisure sectors but elsewhere we have seen interest from both healthcare and industrial sectors. That said I would expect new business development in 2020 to be seriously limited due to the effect of the pandemic on the UK economy and our customers.
HEADLINES
COVID-19 continues to impact financial performance, but UK operation remains EBITDA positive
Third quarter 2020 energy generation fell by 31.20% to 8,491,029 kWh compared to 12,342,215 kWh in the same quarter last year. As a result, total revenue decreased 07% to $674,470 for Q3 2020 compared to $888,249 for same quarter in 2019
Gross profit decreased to $108,575 for the third quarter 2020 compared to $ 226,667 for the same quarter in 2019. This represented a gross margin of 16.10% for the quarter compared to 25.52% for the same quarter last year
Gross margin excluding depreciation for Q3 2020 was 39.34% as compared to 40.93% for Q3 2019
Operating expenses fell 35.43% to $269,384 for the third quarter 2020, largely the result of the ongoing subsidy of payroll costs under the UK governments Coronavirus Job Retention Scheme and temporary salary cuts. By comparison expenses in Q3 2019 were $417,219
The net loss for the third quarter 2020 reduced to $179,252, a decrease of 12.70% compared to the
$205,341 loss recorded in the third quarter of 2019
Non-GAAP adjusted EBITDA for Q3 2020 was a loss of $1,967 compared to a loss of $37,230 in the same period last year however, non-GAAP adjusted EBITDA for the 9-months ending September 30, 2020 was $71,387 compared to a loss of $33,658 for the 9-months ending September 30, 2019
The UK operating company continued to record positive EBITDA for the three months of the third quarter, resulting in a positive cash flow totalling 41,775. This compared to 21,767 for Q3 2019, an increase of 91.91%
The Companys cash position on September 30, 2020 totalled $1,111,077
Operational performance
Operational fleet capacity at September 30, 2020 was 45 systems at 43 sites totalling 5,696kW (of which 717kW are non-OSU systems maintained for others). This is an increase on the 40 systems at 38 totalling 5,100kW reported at the end of September 2019
The system at Benton Hall Golf & Country Club which completed shortly before lockdown began in March 2020 has now been brought into operation
The systems at Ricoh Arena and the Castle Royle Golf and Country Club began operation adding a 425kW additional generation capacity to the fleet
As part of the Companys technology diversification strategy the first high efficiency chiller system, installed at Roko Health Clubs York site began operation late in July
With planning consent finally granted after delays caused by COVID, construction of the three remaining Club Company sites has now started and the Company anticipate that at two will be operational by year-end
With lockdown forcing the closure of the Doubletree by Hilton Dunblane Hydro the Company is upgrading the existing 100kW system to a high efficiency 160kW, work that is now largely complete. The system is expected to be back in operation during the fourth quarter
Contracted backlog at September 30, 2020 3 systems totalling 250kw
Business Development
Having submitted its report to Coca-Cola HBC identifying additional efficiency projects that can be enacted at it Knockmore Hill bottling plant in Lisburn, Northern Ireland the Company has reached agreement to provide detailed designs for 5 projects, two of which are to be funded and implemented by EuroSite Power. These projects are worth in the region of 0.5m and are expected to be delivered in 2021
Outlook, COVID-19 response and risks
All hotels, indoor fitness studios, gyms, swimming pools, spas and other indoor leisure centers across the UK were able to reopen after August 14, 2020 but various new restrictions implemented in Scotland and Wales since the beginning of October and now in England since November 5 are expected to have an impact on generation output. Management remain uncertain about the impact of these changes although it is hoped the winter weather will help to lessen any downturn in energy generation
Although UK government support for business tapered off through the third quarter newly announced support measures will continue to support payroll costs through the fourth quarter and into 2021. Management plans take advantage of these support measures
Salary reductions continue with all directors and staff agreeing a 10% reduction in pay
In response to the impact of COVID on workloads management are reviewing the viability of certain roles
Liquidity is currently considered good, but with tightening lending criteria there remains a risk that funding may be withdrawn during construction of backlog project, so reducing liquidity. As a result, management took a 100,000 ($ 130,000) government backed loan facility with its banker, NatWest
Management consider the overall outlook for financial performance in 2020 to be uncertain
Future News Releases
Note that all financial results and news are only published on the Companys website (http://investors.eurositepower.co.uk/news-releases).
Anyone wishing to receive notice of a news release should subscribe to the email alerts service provided within the Companys investors pages (http://investors.eurositepower.co.uk/email-alerts).
Alternative Reporting Standard
The Company now files its financial statements under the Alternative Reporting Standard (ARS). Financial reports, which are prepared in accordance with US GAAP, are generally provided within 45 days of period end (90 days for fiscal year end results) and are reported to maintain at least the OTC Pink Limited Information tier.
Following corporate reorganisation and de-registration of the Companys common stock, with effect from January 1, 2017 foreign exchange gains/losses are reported in the cumulative translation adjustment (CTA) account on the Companys balance sheet.
Fiscal year-end financial reports for the operating company, EuroSite Power Limited are audited by a PCAOB registered firm and the Company provides current information for the purposes of SEC Rules 144(c)(2) and 10b-5 using the OTC Disclosure & News Service. Financial statements for EuroSite Power Limited are prepared in accordance with UK GAAP, and consequently differences in accounting treatment and presentation may arise.
On-Site Utility (OSU)
EuroSite Power sells the energy produced from an on-site energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the electricity or total energy produced by the system and receive either a guaranteed discount rate on the price of total energy or a fixed price for electricity. All system capital, installation, system maintenance and support are paid by EuroSite Power, and in the case of No Risk On-Site Utility solution customers all system fuel costs are also paid by EuroSite Power.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Companys website and in financial statements held by OTC markets for the fiscal year ended December 31, 2019. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact:
Dr Elias Samaras
T: +44 (0)844 693 2848
E: elias.samaras@eurositepower.co.uk
$EUSP EuroSite Power Schedules Earnings Release for Third Quarter 2020 Results
Press Release | 11/04/2020
EuroSite Power Inc. (OTCPK: EUSP), an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities will release its financial results for the quarter ending September 30, 2020 before the market opens on Thursday, November 12, 2020. The earnings release will be available in the "News Releases" section of the Company website at http://investors.eurositepower.com/.
On-Site Utility
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.
About EuroSite Power
EuroSite Power Inc. is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers - without any capital or start-up costs to the energy user - through our On-Site Utility offering. For more information about our unique efficient power solutions please visit www.eurositepower.co.uk and follow us on Twitter and LinkedIn.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and financial statements held by OTC Markets for the fiscal year ended December 31, 2020. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact:
Dr. Elias Samaras
EuroSite Power Inc.
+44 844 693 2848
elias.samaras@eurositepower.co.uk
$EUSP EuroSite Power Schedules Earnings Release for Q2 2020 Results
Press Release | 08/11/2020
EuroSite Power Inc., an On-Site Utility, offering clean electricity, heat, hot water and cooling solutions to hospitality, healthcare, housing and fitness facilities will release its financial results for the quarter ending June 30, 2020 before the market opens on Thursday, August 13, 2020. The earnings release will be available in the "News Releases" section of the Company website at http://investors.eurositepower.com/.
On-Site Utility
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.
About EuroSite Power
EuroSite Power Inc. is committed to providing institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers - without any capital or start-up costs to the energy user - through our On-Site Utility offering. For more information about our unique efficient power solutions please visit www.eurositepower.co.uk and follow us on Twitter and LinkedIn.
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Company's website and financial statements held by OTC Markets for the fiscal year ended December 31, 2020. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
$EUSP EuroSite Power Board Consent to Amendment and Restatement of the Company’s 2011 Stock Incentive Plan and adoption of a new UK Sub-Plan
Press Release | 06/18/2020
EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, today announced that following Unanimous Written Consent ("UWC") of the Board of Directors of the Company it will, in accordance with the laws of the State of Delaware, the Bylaws of EuroSite Power Inc. and Section 15 of the its 2011 Stock Incentive Plan ("Plan"), present an amendment and restatement of the Plan together with the adoption of a new UK sub-plan to the Plan to stockholders of the Company for approval by written consent. Consent will also be sought for a proposed 3,234,944 increase to the number of shares authorized for the grant under the Plan, revising the total shares authorised for grant under the Plan to 7,734,944.
The UWC adopted by the board also approved a repricing of the per share exercise price of existing grants to match the closing price for the common stock on June 12, 2020 and extension of the original option term to June 3, 2026.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Companys website and in financial statements held by OTC markets for the fiscal year ended December 31, 2019. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
$EUSP EuroSite Power Board Consent to Amendment and Restatement of the Company’s 2011 Stock Incentive Plan and adoption of a new UK Sub-Plan
Press Release | 06/18/2020
EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, today announced that following Unanimous Written Consent ("UWC") of the Board of Directors of the Company it will, in accordance with the laws of the State of Delaware, the Bylaws of EuroSite Power Inc. and Section 15 of the its 2011 Stock Incentive Plan ("Plan"), present an amendment and restatement of the Plan together with the adoption of a new UK sub-plan to the Plan to stockholders of the Company for approval by written consent. Consent will also be sought for a proposed 3,234,944 increase to the number of shares authorized for the grant under the Plan, revising the total shares authorised for grant under the Plan to 7,734,944.
The UWC adopted by the board also approved a repricing of the per share exercise price of existing grants to match the closing price for the common stock on June 12, 2020 and extension of the original option term to June 3, 2026.
Anyone know why this has gone from over a dollar a while back to where it is now?
I like the chart $EUSP
EUSP .13 - contract with Coca-Cola HBC
https://www.otcmarkets.com/stock/eusp/news/EuroSite-Power-wins-CHP-Management-Contract-with-Coca-Cola-HBC?id=243669
EuroSite Power wins CHP Management Contract with Coca-Cola HBC
Press Release | 10/18/2019
Contract to deliver CHP plant efficiency, reduced emissions and operational cost savings
EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing, leisure centers and manufacturing in the United Kingdom (UK) and Europe, today announced that it has signed a Combined Heat and Power (CHP) Management Contract with Coca-Cola HBC Northern Ireland Limited, a subsidiary of Coca-Cola Hellenic Bottling Company, one of the largest bottlers of The Coca-Cola Companys products worldwide. The contract initially focuses on delivering improved CHP plant efficiency, reduced emissions of carbon dioxide and operational cost savings at its Knockmore Hill bottling plant in Lisburn, Northern Ireland.
Coca-Cola HBC was recently ranked as Europes most sustainable beverage company by the Dow Jones Sustainability Indices; its the sixth time in seven years it has led the European index. The accolade recognises Coca-Cola HBCs holistic sustainability achievements across the 28-country group. It also recently renewed its sustainability commitments, setting more ambitious targets for 2025 across six key areas including reducing emissions, which can be achieved via partnerships such as the one announced today. The commitments also cover water use and stewardship; packaging; ingredients sourcing; nutrition; and its people and communities.
In Northern Ireland and Ireland, Coca-Cola HBC has consistently delivered on the targets set. The business unit has reduced its energy usage by 18.76% since 2010, saving an estimated 32 million megajoules of energy. Furthermore, carbon emissions per litre of beverage produced have been cut by 43% since 2010.
Commenting on the contract award Chief Executive Officer, Dr Elias Samaras said This is a significant contract for EuroSite Power and we are delighted to be working with the industry leader in sustainability. Not only does this allow us to use our extensive CHP experience and operational expertise to deliver savings for a major blue-chip customer, but it also opens doors into the broader industrial and manufacturing sectors as well as countries beyond our current sphere of operation.
Annemarie McKinstry, Country Procurement Manager, Coca-Cola HBC Ireland and Northern Ireland said, Coca-Cola HBC is committed to growing responsibly and our local business is proud to have consistently achieved our sustainability targets while also delivering business efficiencies.
We are continuing to reduce our environmental footprint and have been working closely with suppliers across our three priorities: energy and climate protection, packaging and water stewardship. These collaborations are yielding industry-leading innovation, and we look forward to now partnering with EuroSite Power to achieve our future energy reduction goals.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Companys website and in financial statements held by OTC markets for the fiscal year ended December 31, 2017. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Source: EuroSite Power Inc.
Investor Contact:
Dr Elias Samaras
EuroSite Power Inc.
+44 844 693 2848
elias.samaras@eurositepower.co.uk
$EUSP: Q3-2018 Quarterly Earnings release.... $4Million/yr Revenue-RunRate
http://www.eurositepower.co.uk/
Very Very good Earnings statement.
No Visibility here.
https://backend.otcmarkets.com/otcapi/company/financial-report/206152/content
GO $EUSP
$EUSP 10Q 3/31/2015
http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=10705198
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Under the terms of EuroSite Powers innovative 15 year On-Site Utility agreement the Club Company will benefit from high efficiency CHP systems that will provide energy in the form of heat and electricity at five of their Country Clubs. This energy is provided at a guaranteed lower rate than if the facility were to buy directly from the utility. With the final system now installed The Club Company will be able to benefit from up to 5,517,486 kWh of their annual energy needs using these on-site systems, giving them an estimated annual energy cost savings over 78,000 (US$108,000), with no capital or maintenance costs.
Press Release | 03/11/2021
Providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite
Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million
from units totalling 6,012kW electrical capacity.
We offer the hospitality industry an easy way to protect against rising energy prices.
Taking control of operating costs is critical for large and smaller hotel groups. A demand for a reliable energy supply – 24/7 – is coupled with concerns about future price hikes.
It’s clear new ways to deliver long-term cost control and energy efficiency are needed. That’s where we can help.
Our CHP solutions produce electricity, heat, hot water and cooling to meet 24/7 demand as well as peak surges.
You only pay for the energy you use. We finance, operate & maintain the system over the lifetime of the agreement.
Your energy bills are guaranteed for the life of the agreement - whatever happens to tariffs in the future.
We undertake a site audit; and select the right system for your energy needs.
A project plan is agreed; the work is carried out with minimal disruption to you.
The system runs seamlessly with your existing tech: it is monitored by us 24/7.
We maintain the system for its full life; and optimize it for optimum efficacy.
we’re trusted by global brands & UK Government to provide long-term solutions to carbon reduction and security of energy prices.
our business remains nimble and agile so we can be flexible to suit the needs of every kind of customer and every kind of need.
we aim to be honest, open and transparent in our dealings with customers at all times; so you’re never left in the dark on the detail.
we value our customer partnerships; so our contracts are structured in a way that they are not unduly one-sided.
Our On-Site combined heat and power Utility solution is a fully-funded model that unlocks the benefits of on-site generation – without the need for CapEx or commercial risk. We also install, operate and maintain the assets over the course of their lifetime.
EuroSite Power Inc., (OTCQX: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, has now completed installation of the final of five combined heat and power (CHP) systems contracted with the Club Company. The five sites are located across the UK and will add 390kW to the Companys fleet of generation assets.
The Club Company owns and operate 15 Country Clubs in the UK, combining a traditional golf environment with state-of-art health & fitness facilities, 5 of the clubs have on site accommodation ranging from 7 to 56 bedrooms. They have won several prestigious Flame Awards (at both club and operator level) which recognise high levels of service within the health and fitness industry. The clubs c. 40,000 members can benefit from a variety of facilities, including gym, group fitness studios, swimming pools, wet spa, crche, health and beauty, tennis, championship golf courses, bar, restaurant and lounges with free Wi-Fi.
Under the terms of EuroSite Powers innovative 15 year On-Site Utility agreement the Club Company will benefit from high efficiency CHP systems that will provide energy in the form of heat and electricity at five of their Country Clubs. This energy is provided at a guaranteed lower rate than if the facility were to buy directly from the utility. With the final system now installed The Club Company will be able to benefit from up to 5,517,486 kWh of their annual energy needs using these on-site systems, giving them an estimated annual energy cost savings over 78,000 (US$108,000), with no capital or maintenance costs.
Providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity.
Club Company Director Paul Stephens said, "EuroSite Powers team worked with us to identify the clubs where we could benefit from adopting their On-Site Utility solution. Like all businesses cash flow is a vital concern so, with zero upfront costs, and immediate, guaranteed, risk-free savings, the EuroSite Power solution makes perfect sense. Coupled with the experience of the EuroSite Power team it made it a simple decision to sign the deal. Their experience in the hospitality industry showed through in the way they were able to swiftly tailor a bespoke technical and financial solution to maximise our savings."
Paul Hamblyn, Chief Operating Officer of EuroSite Power, added, "Despite the challenges of the pandemic all systems within our project backlog have now been commissioned increasing our operational fleet to 48 units. This project was made possible by the desire of the Club Company team to control their energy costs and our ability to work with them to deliver a tailored On-site Utility solution. This project shows that, as we move towards net zero, CHP can still deliver attractive long term savings for end users through its improved efficiency."
On-Site Utility (OSU)
EuroSite Power sells the energy produced from an on-site energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the electricity or total energy produced by the system and receive either a guaranteed discount rate on the price of total energy or a fixed price for electricity. All system capital, installation, system maintenance and support are paid by EuroSite Power, and in the case of No Risk On-Site Utility solution customers all system fuel costs are also paid by EuroSite Power.
EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, today provided a trading update including detail of how the ongoing global COVID pandemic is affecting its business.
"2020 was a challenging year for many businesses but in many respects, it showed the value of our recurring revenue business model" explained Paul Hamblyn, Chief Operating Officer and Managing Director. "Although government restrictions meant the closure of many of our customers sites these sites still needed energy and so we were able to keep generating, albeit at a reduced output throughout the year. We were also able to continue construction activities, so we also grew our fleet in 2020.
Chief Executive Officer, Dr Elias Samaras added While we will not be publishing our 2020 results until the end of March I can tell investors that revenue was damaged by the pandemic, but despite this the UK company maintained a positive EBITDA throughout the year and also made a profit in six months of the year. In addition, through careful management of cash we ended the year with more cash in the bank than we had when the UK first locked down in March.
With UK government restrictions being reimposed early in January most hotels and all indoor fitness studios, gyms, swimming pools, spas and other indoor leisure centers together with outdoor leisure activities such as golf were forced to close. As a result, the Company confirmed that 24 of its 46 generation assets are now switched off however, the impact to day-to-day energy generation is currently limited to a reduction of around 30% due to the larger generation capacity of those units still able to operate and the effect of the colder winter weather. Daily electricity generation is currently averaging close to 40,000 kWh although the Company expects this to reduce should the current restrictions continue into the warmer spring months.
New business development, particularly within the Companys traditional hospitality, sports and leisure sectors was severely affected by COVID. Many projects in the pre lockdown pipeline failed to materialise as expected but there are signs that activity is now beginning to remerge within these sectors. In response to this downturn management refocused sales effort both on new sectors and an expanded offer including funded solar PV solutions and high efficiency chillers. It also took the decision to reduce staffing in the sales team; staff numbers will be increased once more when restrictions are eased and new business activity levels increase. In the meantime, the UK directors are spearheading sales activity.
The Companys also reports that project backlog was substantially reduced over the past few months with new systems becoming operational at four Club Company sites, the Brentwood Centre and at the Ricoh Arena, Coventry. These new systems added 735kW capacity to the fleet, further increasing the recuring revenue potential for 2021.
Elsewhere the Company was also able to identify a range of energy and carbon savings projects as part of its CHP Management Contract with Coca-Cola HBC Northern Ireland. In time the Company expects to receive orders to implement the projects identified and is also working with its customer to extend the scope of its current contract to other sites across Europe and elsewhere.
Management took advantage of all available government support including flexibly furloughing some staff using the Coronavirus Job Retention Scheme while claiming various one-off business grants. The Company also opted to take a low interest 100,000 ($139,000) government backed loan, the first year of which incurs no interest with repayments beginning in November 2021.
The Company plans to announce its 2020 financial results later in March and will issue a press release confirming the exact date and time of this announcement in due course.
American DG Energy American DG Energy, now Tecogen Inc. (Nasdaq-TGEN $1.72) can be considered the parent of EuroSite Power. It was founded in 2001, and basically has the same strategy as EuroSite Power, except that it offers its services in the United States. After American DG Energy was in operation for a few years, it spotted an opportunity to implement its business model in Europe. It did so by founding EuroSite Power. Today, American DG Energy owns approximately 25.7% of EuroSite Power’s outstanding common stock and it provides management oversight to the Company. A number of EuroSite Power shareholders are also shareholders of American DG Energy. Additionally, American DG Energy continues to guarantee certain debt obligations of the Company. Finally, American DG Energy has a related company, Tecogen Inc., which is a major equipment supplier to both American DG Energy and EuroSite Power. Competition EuroSite Power competes with utilities that provide electricity, with companies that provide similar services, and with other forms of alternative energy. Companies that provide similar services include Siemens AG, Honeywell International Inc. and Johnson Controls Inc. Because of their overhead structures, these companies often solicit large, diverse projects rather than individual properties. Because EuroSite Power focusses on much smaller projects solely for energy supply, these giants, in most cases, are potential suppliers of equipment and not competitors.
https://sec.report/otc/financial-report/157753/Small-Caps-Research-Company-Report.pdf
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