Eurosite Power Inc (EUSP)

[Penny Stocks 2.0]

$EUSP Huge News, $108,000,000 Portfolio EuroSIte Power announces completion of final Club Company installationPress 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.


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).