HUNTERSVILLE, N.C., Nov. 29, 2011 (GLOBE NEWSWIRE) -- Lime Energy Co. (Nasdaq:LIME) announced today completion of the design and installation of 90 electric vehicle charging stations in four states.
Under the $2 million contract awarded earlier this year. Lime completed stations for a fleet of electric delivery vehicles in California, Connecticut, Massachusetts and New York. "As a leader in energy efficiency design and implementation, Lime embraced the opportunity to provide a solution for electric vehicles that utilized our expertise in emerging smart grid technology," said Jim Smith, Executive Vice President of Operations.
The benefits of utilizing electric vehicles continue to accrue in today's marketplace. Along with state and federal grants, electric vehicles offer reduced annual maintenance costs, more favorable utility rates, and integrated controls. One-third of US greenhouse gas emissions come from the transportation sector, and switching vehicles from liquid fuels to the electric grid will have a dramatic impact on emission reduction goals.
"Ultimately, our customers can achieve a savings of 30-40% by switching to electric delivery vehicles as part of their overall energy efficiency program design," said John O'Rourke, Lime's President and CEO. "This offers an attractive return on investment and Lime's unique capability to design and install these charging stations will continue to be a part of our portfolio of clean energy solutions."
About Lime Energy Co
As one of the nation's leading providers of clean energy solutions, Lime brings over 20 years of delivering economically viable efficiency and renewable energy solutions that benefit communities and protect the environment. Lime's platform includes the energy industry's most experienced professionals and an expansive geographic footprint with over 400 employees at 20 locations in North America. Lime Energy's services include integrated energy engineering, consulting and the implementation of solutions that enable customers to reduce their facility's energy consumption, lower their operating and maintenance costs and reduce their carbon footprint. The company's stock is traded on NASDAQ under the symbol LIME. Additional information is available at www.lime-energy.com or by emailing info@lime-energy.com.
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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 2011 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.