ELK GROVE VILLAGE, Ill., Nov. 17, 2010 (GLOBE NEWSWIRE) -- Lime Energy (Nasdaq:LIME) today announced it recently completed an energy efficiency retrofit project for the Bassett furniture showroom in Fife, WA. Lime Energy designed and installed a system that features Energy Star rated LED lighting for improved light quality, energy efficiency, and exceptional long life when compared with other options. Because of the Energy Star rating and a positive score from industry-sanctioned testing, the project qualified for a substantial utility incentive from Tacoma Power. Bassett Home Furnishings will pay for the balance of the installation over time, so the installation was made with no out of pocket cost. Owner Scott Selden is projecting to see his monthly energy costs go down by more than the monthly payment to Lime Energy for the next three years. "Our last installation with Lime really proved the savings, so it was easy to see how my lower utility costs will pay for the project so I really don't have to invest anything." Discussing the outcome, Mr. Selden added, "You are always a bit nervous when trying something new, but the color is great, and I didn't expect that. It's a great match for our new showroom, bright and vibrant. The colors jump off the furniture."
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Because of the improved energy efficiency when compared with conventional lighting, the retrofit project provides additional annual environmental benefits annually by eliminating:
- 311,000 pounds of Carbon Dioxide
- the leading cause of Global Warming
- 1,217 pounds of Sulfur Dioxide
- the leading cause of Acid Rain
- 772 pounds of Oxides of Nitrogen (NOx)
- the leading cause of Smog and Acid Precipitation
- which is equal to 27 passenger cars removed from the road this year.
As far as the effect on his business, Scott Selden added: "apart from improving the environment, the great color, and cost savings; the impact on maintenance is the best part. I could have three full-time employees who would do nothing but move ladders and replace lights. It almost makes bulb cost moot when you look at the labor. With these 50,000 hour lights, we'll only have to pull out a ladder when we're re-organizing the showroom."
"Advanced technology such as the new lighting that we designed and installed here is really changing the face of retail lighting," said Dan Parke, President of Lime Energy. "The exceptionally long life and ground-breaking efficiency are ideal for businesses that want to improve their product display and save operating costs at the same time."
About Lime Energy Co.
Lime Energy is a leading provider of energy efficiency solutions. Our services include integrated energy engineering, consulting and implementation of solutions which enable our customers to reduce their facilities' energy consumption, lower their operating and maintenance costs and reduce their carbon footprint. We focus on solutions which include lighting, mechanical and electrical upgrade services, water conservation, weatherization and renewable project development and implementation. We provide these solutions to the commercial and industrial markets, utilities, energy service companies (ESCOs) and the government sector across a wide range of facilities including high-rise office buildings, manufacturing plants, retail sites, mixed use complexes and large government sites. The company's stock is traded on NASDAQ under the symbol LIME. Additional information is available at the company's website at www.lime-energy.com or by calling 847-437-1666.
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About Bassett Home Furnishings
Bassett is part of Selden's Home Furnishings, the premier furniture retailer of the Pacific Northwest. In more than sixty years of operation, Selden's has grown from a staff of 5 when it first opened its doors to more than 100 now, including salespeople, designers, warehouse, and delivery staff. The Fife-based store specializes in quality and feature furniture and accessory motifs for every lifestyle and taste from French Country and Casual to Far Eastern and Contemporary.
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," "hope," "intends," "estimates," "plan," "should," "typical," "preliminary," 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 2010 and beyond to differ materially from those expressed in, or implied by, these forward- looking statements. These risks include those described in Lime Energy's most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; such factors are incorporated here by reference.
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