Key Developments: American DG Energy Inc (ADGE.A)
1.70USD
22 May 2013
$0.00 (+0.00%)
$1.70
$1.69
$1.75
$1.69
9,113
11,399
$2.93
$1.54
Latest Key Developments (Source: Significant Developments)
American DG Energy Inc Announces $2 Million Private Placement
American DG Energy Inc announced that it has entered into a definitive agreement to sell restricted common stock for aggregate proceeds of $2,000,000 to Dr. Phillip Frost through one of his trusts. Pursuant to the agreement, the Company sold to Dr. Frost 1,250,000 shares of restricted Common Stock at $1.60 per share at an aggregate purchase price of $2,000,000. The proceeds of the private placement will be used to fund additional installations of the Company's On-Site Utility energy systems and for general corporate and working capital purposes. Full Article
American DG Energy Inc's EuroSite Power Inc Agrees To Strategic Partnership With LowC Communities Limited
American DG Energy Inc's EuroSite Power Inc announced that it has signed a partnership agreement with specialist renewable energy provider LowC Communities Limited. Under the terms of the agreement LowC will promote the Company's natural gas fuelled Combined Heat and Power (CHP), Chiller, Heat Pump and On-Site Utility solutions alongside its own renewable technologies, based on a wide array of fuels - including pure plant oils, biomass and waste products. The agreement covers both the United Kingdom and Republic of Ireland. The Company will also promote LowC's complimentary solutions alongside its own products and services. Full Article
American DG Energy Inc Announces Agreement With The Community Builders, Inc.
American DG Energy Inc announced that it has reached an agreement with The Community Builders, Inc. (TCB) to provide a 75 kW combined heat and power system as an On-Site Utility for West Village, an affordable housing complex in New Haven, Connecticut. West Village is an apartment building adjacent to a YMCA providing community services. Under the terms of the agreement, American DG Energy will install the combined heat and power (CHP) system, and provide space heating, domestic hot water and pool heating to the Central Connecticut Coast complex and YMCA swimming pool at a price lower than the local energy utility. Because TCB opted for the Company's On-Site Utility energy solution, the property will pay only for the energy used and will avoid all capital, installation and operating costs. American DG Energy estimates the system will produce approximately 1,400,000 kWh of total energy annually. The value of the agreement to the Company is estimated to be $2,000,000. Full Article
American DG Energy Inc Names New Chairman
American DG Energy Inc announced that its Board of Directors named Charles T. Maxwell as its new Chairman of the Board. Dr. George Hatsopoulos resigned as Chairman of the Board due to personal reasons, but will remain as a director of the Company. Full Article
American DG Energy Inc To Provide Clean Energy From 14 Combined Heat And Power Systems At Multiple Buildings
American DG Energy Inc announced that it has reached an agreement to supply clean energy to multiple residential buildings located in New York. Under the terms of the 15 year agreement, the Company will install 14 combined heat and power (CHP) systems at multiple residential buildings, managed by RY Management, a property management company. The CHP systems, totaling 1050 kW, will be owned and operated by American DG Energy. The property management company will receive a discount on the energy produced by the CHP systems and reduce the emissions of its managed properties. The value of the agreement to the Company is $27.4 million. Full Article
American DG Energy Inc To Supply Low Cost Clean Energy To New Jersey High-Rise
American DG Energy Inc. announced that it has reached an agreement to supply clean energy to Governor Paterson Towers, a 225 unit, 30 story, residential high-rise, located in Paterson, New Jersey. Under the terms of the agreement, Governor Paterson will soon receive a portion of its energy from a 75 kW combined heat and power (also called CHP or cogeneration) system, which will be owned and operated by American DG Energy. Governor Paterson will receive a discount on the energy produced by the CHP system and reduce its greenhouse gas emissions. The value of the agreement to the Company is $1.9 million over the fifteen-year term. Having opted for the Company's On-Site Utility energy solution, Governor Paterson will pay only for the energy used by the property and will avoid all capital, installation and operating costs. The energy will be produced with small-scale, combined heat and power equipment, located at the property site but owned and operated by American DG Energy. The Company will also handle all service, maintenance and repair; therefore, Governor Paterson will not need to provide manpower to support the equipment. Full Article
Doubletree Tarrytown Selects American DG Energy Inc As Clean Energy Provider
American DG Energy Inc announced that it has reached an agreement to supply clean energy to the Doubletree Hotel Tarrytown, located in Tarrytown, New York. Under the terms of the agreement, the Doubletree, will soon receive a significant portion of its energy from a 100 kW combined heat and power (CHP) system, which will be owned and operated by American DG Energy. The value of the agreement to the Company is $2 million over the 15 year term. Full Article
NY Fitness Facility Selects American DG Energy Inc As Green Energy Provider
American DG Energy Inc announced that it has reached an agreement to supply clean energy to Club Fit Jefferson Valley, a health and fitness facility located in Jefferson Valley, New York. Under the terms of the agreement, Club Fit will soon receive a significant portion of its energy from a 100 kW combined heat and power (also called CHP or cogeneration) system, which will be owned and operated by American DG Energy. Club Fit will receive a discount on the energy produced by the CHP system and reduce its carbon dioxide emissions by up to 367 tons per year. The value of the agreement to the Company is $3 million. Full Article
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