Texas A&M University-Corpus Christi Nears Project Completion with Ameresco to Lead Campus-Wide Energy Conservation Efforts
University to upgrade facilities and systems to reduce energy usage and generate energy savings of more than $500,000 annually
FRAMINGHAM, MASS. and CORPUS CHRISTI, TX– June 25, 2019 – Ameresco, Inc., (NYSE: AMRC), a leading energy efficiency and renewable energy company, today announced that Texas A&M University-Corpus Christi selected the company to lead a $6.9M energy savings performance contract (ESPC) project in 2016 which is nearing completion and will significantly reduce energy demands and improve infrastructure reliability. Through the budget-neutral ESPC approach, the university will front no costs and instead will pay for the project through operational and energy cost savings accrued through the duration of the contract term.
The ESPC energy conservation measures for the project include central plant optimization, chiller replacement, demand response, building automation and the installation of irrigation controllers. In addition to addressing deferred maintenance through facility upgrades, this project will provide a higher standard of learning environment for students and faculty by increasing comfort throughout the university’s buildings.
“We are laser-focused on ensuring we use university funds wisely, and these initiatives will greatly reduce our energy costs while also allowing us to replace capital budget items without having to incur capital costs,” said John Dawson, Ph.D., Associate Vice President for Operations at Texas A&M University-Corpus Christi. “Ameresco is helping us to pursue much-needed system upgrades in a fiscally responsible way.”
“Texas A&M University-Corpus Christi is a model for other institutions of higher education across the Southwest because it is pursuing energy efficiency efforts while also ensuring it can reduce deferred maintenance responsibilities,” said Bob Georgeoff, Vice President, Ameresco. “The university has made a deliberate choice to reduce its energy usage in order to not only pursue environmental responsibility but also reduce energy costs and improve quality-of-life and comfort measures for students, faculty and staff. We’re very proud to be a partner to A&M-Corpus Christi and the broader Texas A&M System.”
About Ameresco, Inc.
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 businesses and organizations throughout North America and Europe. Ameresco’s sustainability 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, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.
About Texas A&M University-Corpus Christi
Offering more than 80 of the most popular degree programs in the state, Texas A&M University-Corpus Christi has been proudly providing a solid academic reputation, renowned faculty and highly-rated degree programs since 1947. The University is also a part of the distinguished Texas A&M System. Students who choose the Island University enjoy a warm, friendly, community environment where faculty often work one-on-one with students on research and other hands-on activities. Islanders become prepared for future careers that begin with experiences right on the Island. The prestige of a Texas A&M-Corpus Christi degree is known worldwide. Texas A&M-Corpus Christi is one of only seven federal test sites for unmanned aircraft systems (UAS) in the nation. The College of Nursing and Health Sciences has been recognized by the White House on several occasions. And, the Harte Research Institute, leader of the Texas One Gulf Center of Excellence is dedicated to advancing the long-term sustainable use and conservation of the Gulf of Mexico. For more information visit www.tamucc.edu.
The announcement of completing construction on 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 project backlog. This project was included in our previously reported contracted backlog as of March 31, 2019.