ELK GROVE VILLAGE, Ill., March 2, 2009 (GLOBE NEWSWIRE) -- Lime Energy (Nasdaq:LIME), one of the nation's leading energy efficiency and renewable energy solutions providers, today announced their Applied Energy Management (AEM) subsidiary has been awarded a $2.25 million contract by an ESCO partner to provide weatherization and the design and installation of energy efficient lighting at a U.S. Army facility in Virginia. The base is made up of over 184 buildings which will realize energy savings in heating and cooling through building envelope load reduction along with energy savings from lighting upgrades. AEM's turn-key projects will include the energy efficient lighting upgrades along with the installation of new weather stripping around all points of building access and egress, as well as sealing penetrations of the building envelope including adding insulation to attics, walls, and other surfaces which were identified to benefit from increased energy efficiency.
"Energy efficient projects like this creates jobs, reduces operating expenses, provides attractive returns on taxpayer dollars, reduces energy use to help achieve stated federal energy reduction initiatives and reduces harmful greenhouse gases caused by most energy production," stated Jim Smith, President of AEM. "Although lighting upgrades are often the low hanging fruit for immediate energy savings, weatherization is also an important and effective energy efficiency solution as evidenced by this contract and the $5 billion allocated to weatherization in the American Recovery and Reinvestment Act of 2009," concluded Mr. Smith.
About Lime Energy
Lime Energy is a leading provider of energy efficiency and renewable energy design/build solutions. The Company performs energy efficiency engineering and consulting as well as the development and implementation of energy efficient lighting, HVAC, water, weatherization, and renewable energy solutions. Lime Energy's clients include commercial and industrial businesses, building owners, property management companies as well as federal, state and local government agencies through energy service company (ESCO) partners. The company's stock is traded on NASDAQ under the symbol LIME. Additional information is available at the company's website at http://www.lime-energy.com or by calling 847-437-1666.
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FORWARD-LOOKING STATEMENTS
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy's current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as "may," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "hope," or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy's actual results, performance, prospects or opportunities in 2008 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements. These risks are referenced in Lime Energy's current Annual Report on form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; and such factors as incorporated by reference.