SAN JOSE, CA--(Marketwire - July 19, 2010) - Bridge Capital Holdings (
The solar installation was designed and constructed by HelioPower. Helio Micro Utility owns the installation, and sells the solar electricity generated back to Ronald McDonald House under a power purchase agreement (PPA). The Ronald McDonald House Charities of San Diego is located across from the world famous Rady Children's Hospital. It is the first Ronald McDonald House in California to use solar energy to help power the House that supports the families with seriously ill children in local hospitals. The Ronald McDonald House of San Diego is projected to serve the needs of more than 20,000 families this year alone and this solar electric installation will help offset the electrical needs of the families with clean energy.
"We needed a creative financing solution that is hard to source elsewhere on the market," said Ty Jagerson, President of Helio Micro Utility. "The Bridge Bank team had the expertise and demonstrated a detailed knowledge of the industry and was able to provide us the unique structuring we needed to make this project happen."
The project is an 116kW roof-mounted photovoltaic (PV) solar electric system which will produce an average of 147,846 kilowatt hours (kW/h) per year. The environmental offset is equivalent to curtailing the release of 151,420 pounds of carbon dioxide each year, or planting 554 new trees and eliminating carbon dioxide over their lifetime.
"As a leading business bank to innovative technology and growth companies nationwide, Bridge Bank is uniquely positioned to fill a void for this type of financing for qualified companies," said Dan Pistone, Senior Vice President of Bridge Bank's Technology Banking Group. "We are pleased to be able to offer this customized project financing solution to HelioPower for the Ronald McDonald House of San Diego."
About HelioPower
HelioPower has engineered over 1000 solar power solutions for residential, commercial, community and utility scale partners since 2001 in the Western states and serves clients worldwide. Customer testimonials are available at www.HelioPower.com. HelioPower can also be reached toll free at 1.87.SOLAR.888/1.877.652.7888.
About Helio Micro Utility
Helio Micro Utility (Helio mU) is a Clean Energy Utility™. The company develops, owns and operates solar power systems. The Helio mU Buy Power not Panels™ program makes purchasing solar energy more accessible for commercial, public sector and large scale energy users. The performance of its solar power systems is guaranteed by the company's Investment Grade™ system standards which drive implementation of the industry's best practices, quality, and efficiency standards for solar energy production. Helio Micro Utility is headquartered in San Francisco, CA. For more information please visit www.HeliomU.com.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on The NASDAQ Stock Market under the trading symbol BBNK. For additional information, visit the Bridge Capital Holdings website at www.bridgecapitalholdings.com.
About Bridge Bank, National Association
Bridge Bank, National Association is Silicon Valley's full-service professional business bank. The Bank is dedicated to meeting the financial needs of small, middle market, and emerging technology businesses. Bridge Bank provides its clients with a comprehensive package of business banking solutions delivered through experienced, professional bankers. For additional information, visit the Bridge Bank website at www.bridgebank.com.
Forward-Looking Statements
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.