Eurosite Power Inc (EUSP)

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$EUSP UK’s first Green CHP offering: a vital ‘transition’ technology for companies on their Net Zero journey
Press Release | 06/23/2021
EuroSite Power Inc. (OTCPK: EUSP): An alternative to traditional CHP systems has been developed by EuroSite Power. The companys Green CHP offering, which is powered by certified biomethane injection to provide a 100% zero carbon solution, is believed to be the first of its kind available in the UK.



Green CHP works exactly like a conventional CHP system; however, EuroSite Power ensures that the gas used to fuel the boiler is certified green. The company, which is well-known for its On-Site Utility fully-funded energy as a service approach say its Green CHP offer has been designed for organisations needing an immediate transitional solution as part of their zero carbon goals.



EuroSite Powers Green CHP solution uses similar reciprocating gas engine technology to a conventional CHP but takes advantage of certified biomethane injection to provide a 100% zero carbon solution. All the gas burned by EuroSite Powers Green CHP system is certified as renewable, using a widely accepted standard called Renewable Gas Guarantees of Origin (RGGOs)*. The company can also use the same approach to include gas used elsewhere in a customers building. This means users are able to legitimately state that they are using 100% green gas and have decarbonised their operational emissions from the use of heating in their buildings or process.



First of its kind

EuroSite Power sees the launch of its Green CHP offer as both necessary and timely.



Nearly half of the UKs greenhouse gas emissions are generated by the energy use of buildings, so it is highly likely that heating/cooling and powering sites is a significant source of emissions for most organisations, says EuroSite Powers Managing Director Paul Hamblyn. Decarbonising these processes will be a huge step forwards in a customersNet Zerojourney, and Green CHP makes this possible.



We are extremely excited to be able to bring a Green CHP offering to the market before anyone else in the energy arena. Weve been scanning the landscape for some time and are aware that many companies are considering heat pumps or are thinking ahead to hydrogen-based solutions for decarbonisation. Heat pumps certainly have their limitations and hydrogen may be green in theory, but at present over 95% of it is so-called grey hydrogen. This means it is produced using fossil fuels through a process which createsbetween7to12 tonnes of emissions for every tonne of hydrogen. Added to this, there is only one blue hydrogen** site in the world.



What all this means is a transitional technology is needed. Our Green CHP systems works with this reality to cut your emissions today. In addition, a Green CHP can also be considered hydrogen ready to the extent that it too can operate on a blend of hydrogen and natural gas,concludes Paul Hamblyn.



Low risk, fully-funded model

To accelerate uptake of Green CHP, EuroSite Power will deploy its On-Site Utility (OSU) model to fully-fund its on-site energy generation solutions. The company takes care of the upfront costs of installing the Green CHP solution, so that end customers do not have to make any significant financial outlay. The OSU model means that EuroSite Power installs, maintains and operates the whole system over the course of its lifetime.



UnderitsOSU model, EuroSite Power agrees to pay for the RGGO certificates which will make the gas green. This means that if the price of these certificates rises dramatically during the life ofthecontract, it will shoulder the cost. Since EuroSite Power is also paying the upfront costs of purchasing and installing the Green CHP system, there is minimal financial risk to the customers business.



Downloadable guide

The company expects its customers to have many questions about how a Green CHP technology can deliver solutions for Net Zero emissions ambitions. It has therefore published a guide entitledGREEN CHP: How to meet Net Zero Ambitions with a powerful alternative to conventional gas CHPwhich is available for download via its website.



About EuroSite Power

The Company provides institutional, commercial and 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, 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.

ENDS/


Notes for editors

* For greater understanding of Renewable Gas Guarantees of Origin (RGGOs) please view our downloadable guide. Or, view https://www.greengas.org.uk

**Blue hydrogen: The emissions from the fossil fuels are captured rather than going into the atmosphere. This is a promising development, but so far there is only one blue hydrogen site in the world.

Press enquiries to: Content Coms, Wiltshire, UK.

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