Archive for the ‘Lime Energy Corp. LIME’ Category

Lime Energy Co. (LIME) Sells ESCO Services Subsidiary to PowerSecure

Monday, March 4th, 2013

Lime Energy, a leading national provider of energy efficiency for small business customers, announced that it has sold certain assets of its wholly owned subsidiary, Lime Energy Service Company, constituting its energy service companies (ESCO) subcontracting business to PowerSecure, a subsidiary of PowerSecure International, Inc. (NASDAQ:POWR), for approximately $1.9 million in cash. As part of the agreement, PowerSource will also assume approximately $9.9 million of net liabilities related to existing projects, raising the effective purchase price to approximately $11.8 million.

Lime Energy completed this sale as part of its increased focus on utility direct install programs, the fastest growing segment of the energy efficiency space. As such, this sale reinforces the company’s commitment to serving its growing list of utility clients, ensuring Lime’s dedication of the corporate resources necessary to maintain its track record of exceeding program savings goals and delivering customer satisfaction.

“I believe that our proven success in the utility program space creates the potential for a high-growth, high-margin and less capital intensive business for Lime Energy moving forward,” commented John O’Rourke, President and CEO of Lime Energy. “PowerSecure is an ideal home for our ESCO services business and we are thrilled to see it continue with a North Carolina based company.”

Adam Procell, Senior Vice President of Utility Programs for Lime, added, ““Lime is committed to helping our utility clients to engage their small business customers with innovative efficiency solutions. Reports released last month by ACEEE and Lawrence Berkeley National Laboratory demonstrate the need for utilities to do more for these customers than they have in the past – Lime’s delivery model and mix of expertise provides utilities with a cost-effective means of accomplishing this goal.”

Lime Energy, with nine active small business direct install programs for utilities, leads the way in this marketing, having delivered over $100 million in incentives and 405,000 MWh to utility small business customers in the past three years alone.

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Central Hudson Gas & Electric Exceeds 2012 Goals with Aid of Lime Energy (LIME)

Thursday, February 7th, 2013

Lime Energy Co., a leading national provider of energy efficiency programs for utilities, government agencies, and private enterprises, announced that it has saved businesses more than 13,600 megawatt-hours through Central Hudson Gas & Electric’s Small and Mid-Sized Business Direct Install Programs, in addition to an extra 5,000 megawatt-hours that are committed for installation. Lime Energy is the exclusive provider for these programs, supplying energy-efficient lighting facility upgrades for business customers across Central Hudson’s service territory, which is located in New York State’s Mid-Hudson Valley region. Over the remaining course of the four-year contract, Lime Energy is poised to deliver an additional 58,000 megawatt hours.

Serving small and medium-sized commercial customers as well as municipalities, Central Hudson’s Direct Install Programs provide incentives covering up to 70 percent of the implementation cost for these energy efficiency projects. Central Hudson has provided more than $3 million in incentives to date, helping nearly 1,000 businesses upgrade to energy-efficient lighting and resulting in lower energy usage and improved lighting quality. These businesses have additionally lowered their operating and maintenance costs.

“We applaud Central Hudson’s commitment to New York State’s energy efficiency goals, and we are proud to partner with them,” said Lime Energy President and CEO John O’Rourke. “Together, we have improved small business workplaces while saving local business owners thousands of dollars every month on their electric bills.”

With Lime Energy playing a significant role in the achievement, Central Hudson exceeded its 2012 EEPS goal for its electric portfolio. The Direct Install Programs continue to provide an invaluable service to Central Hudson’s commercial electric customers.

A national leader in designing and implementing energy efficiency programs for utilities, government agencies, and private enterprises, Lime Energy offers innovative solutions that enable its clients to meet their goals for energy savings and carbon reduction across a portfolio of facilities – thereby driving increased profitability and competitiveness. With proven results and more than 25 years of experience, the company is able to scale energy efficiency programs to meet increasing regulations for clean energy.

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Dutton Associates Featured Company: Lime Energy Corp. (LIME)

Friday, July 25th, 2008

Lime Energy Corp. (NASDAQ: LIME) engages in developing, manufacturing, and seeking out new ways to integrate energy-saving technologies and services for public institutions. The company has established itself as one of the nation’s leading energy efficiency technology and engineering companies, bringing together more than 75 years of experience in design, engineering and installation of energy-efficient solutions. Lime Energy’s goal is to provide commercial, industrial, and public institutions with environmentally sound projects that dramatically reduce fixed operating expenses and improve facility appearance, safety, and functionality, as their projects produce a remarkable return on investment with virtually zero risk.

The company is composed of three segments in which they operate: energy technology, energy services, and financial services. The energy technology segment designs, manufactures and markets energy saving technologies, primarily to commercial and industrial consumers. The energy services segment engages in consulting with customers to inform them of ways to become more energy efficient and assist them in improving their energy costs, as for example their engineering and installation of energy-efficient lighting upgrades for commercial and industrial users. Financial services provide liquidity to the group’s operating subsidiaries by purchasing certain long-term receivables from them.

Lime Energy is dedicated to working to fully understand each and every client’s operations and goals in order to deliver the proper solutions that will produce tangible improvements to that client’s facility and operation. The company completes thorough audits of a facility’s energy-consuming equipment inventories and operational practices to uncover hidden opportunities and maximize return. By utilizing hundreds of available solutions from multiple top-tier manufacturers, Lime Energy is able to deliver the highest returns on a client’s investment. Numerous tests and precautions are taken before Lime Energy executes a function, ensuring that their services best fit each client’s needs and expectations.

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