Ameresco Launches Efficiency and Facility Renewal Project to Save Major Utility Costs for NRC
Implementation begins on project to reduce costs and upgrade facilities
FRAMINGHAM, MA and Toronto, ON – February 19, 2015 – Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, announced today that a new energy savings project with the National Research Council of Canada (NRC) is underway. The $5.4 million (CAD) comprehensive energy efficiency and facility renewal project at three buildings on NRC’s Montreal Road Campus in Ottawa is expected to save approximately $500,000 (CAD) annually in utility costs. Ameresco is on-track to improve the comfort and safety of NRC staff with energy infrastructure retrofits and enhancements that promise greater efficiency, cost savings, and environmental compliance. The project is expected to be completed in 2016.
“We are honored to continue our work with the National Research Council as they take a proactive and fiscally prudent approach to modernizing their facilities,” said Louis Maltezos, Executive Vice President, Ameresco. “The project supports significant renewal improvements and is expected to deliver energy cost-savings that will provide meaningful dollars to NRC.”
The program involves three buildings for the National Research Council in Ottawa including, a laboratory, a library, and an administration building. Under the energy savings agreement, there are a variety of planned measures to optimize efficiency, including: building automation system enhancements; heating, ventilation, and cooling upgrades; chiller plant optimization; lighting retrofits and installation of energy-efficient lighting; fume hood system renewal and fume hood exhaust heat recovery; building envelope improvements; and reduction of water consumption levels.
The environmental benefits from this project include the reduction of more than 829 metric tonnes of CO2 equivalents, which is equivalent to eliminating 160 passenger vehicles from the road annually. In addition, the project supports other unique savings benefits including 3,100,000 kWh and 366 kW of electricity, 21,600 gigajoules of steam, and 5,100 cubic meters of city water each year.
This is Ameresco’s third project with the National Research Council and when completed, will bring the total utility savings achieved to approximately $2 million annually. In September 2008, Ameresco completed work on its first NRC project, a $3.7 million initiative resulting in annual utility savings of $483,000. The second was a $9.3 million project, which is on-track for annual utility savings of more than $887,000, at 100 Sussex Drive in Ottawa. NRC and Ameresco were the recipients of the 2014 Real Property Institute of Canada (RPIC) Energy Award for Energy Efficiency of Federal Buildings for the project.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco’s services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, health care and educational institutions, housing authorities and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco provides local expertise through its 69 offices in 34 states, five Canadian provinces and the United Kingdom. Ameresco has more than 1000 employees. For more information, visit http://www.ameresco.com/.
The announcement of a customer’s entry into a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total construction backlog.