ELK GROVE VILLAGE, Ill., June 11, 2009 (GLOBE NEWSWIRE) -- Lime Energy (Nasdaq:LIME) has been named one of the fastest growing companies in the Chicago area according to Crain's Chicago Business. Lime's core business is designing and implementing energy efficiency solutions to help business and government facilities save money and go green. "At the end of the day, we sell return on investment," said CEO David Asplund. "Our offices nationwide study the energy use of existing buildings, design a strategy to reduce energy costs, and implement the best solutions. Our work with clients saves overhead costs, reduces energy waste, and significantly improves building operations with new equipment."
Lime Energy has grown its revenue by 1,135% over the past five years to $57.2 million in 2008. Revenues come from contracts with some of the nation's leading private companies and from the largest Energy Service Companies (ESCOs) that contract with Applied Energy Management (AEM), a subsidiary of Lime Energy. "Our growth has been fueled by the need for private industry to reduce overhead costs, and from several specific provisions in the Federal Budget and the ARRA (Stimulus Bill) to reduce energy use in the public and private sectors," continued Asplund. "As the need to reduce greenhouse gas emissions continues to grow, we see more and more opportunities for our services. The fact that we enjoy significant revenue through repeat business with existing customers tells us that we are on the right track with our skill and offering."
About Lime Energy Co.
Lime Energy is a leading provider of energy efficiency and renewable energy design/build solutions. The Company performs energy efficiency engineering and consulting as well as the development and implementation of energy efficient lighting, HVAC, water, weatherization, and renewable energy solutions. Lime Energy's clients include commercial and industrial businesses, building owners, property management companies as well as federal, state and local government agencies through energy service company (ESCO) partners. 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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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," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," 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 2008 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks are referenced in Lime Energy's current Annual Report on form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; and such factors as incorporated by reference.