Thugmuffin
3 years ago
$EUSP EuroSite Power Announces 2021 Financial and Operational PerformanceEarnings Announcement | 03/31/2022
March 31, 2022
OTC Disclosure & News Service
Derby, United Kingdom —
This release includes additional documents. Select the link(s) below to view.
EUSP Full Year 2021 - Summary of Financial Statements.pdf
EBITDA $655K for FY2021 after UK operating company delivers full year net profit
EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, continued its trend of improving EBITDA performance after it reported a full year positive EBITDA of $655,013 in 2021, an increase of 167.9% compared to the positive $244,525 reported in 2020. This followed a strong performance by the UK operating company that saw it deliver full year net profits for the first time, reporting profits of 132,789 ($179,688) at the UK level for FY2021. This compares to a net loss of 68,377 ($93,314) for FY2020, representing an increase of 294.2%.
Full year 2021 revenues increased 34.9% to $4,441,965 from $3,292,061 in 2020 and falling just short of the Companys record high of $4,472,635 reported in 2019. This was despite COVID restrictions affecting many sites in the first half of the year. Importantly full year gross margin also increased, rising 3.3 percentage points to 29.8% although when excluding depreciation gross margin increased further still to 47.5% in 2021 as compared to 45.5% in 2020, largely the result of increased spark spread in the earlier part of the year. While the Company still reported a net loss of $137,987 for FY2021 this is a 65.7% improvement compared to the $402,488 loss reported for FY2020.
Achieving profit at least at the UK level was our goal this year and I am delighted to have achieved this said Paul Hamblyn, Chief Operating Officer and Managing Director of the UK operating company. The next step is to do the same at the consolidated level and given that COVID impacted our ability to generate last year I am more confident than ever that we can achieve this.
Speaking about the Companys full year results Dr Elias Samaras, Chief Executive Officer said The last two years have been challenging but yet we were able to reduce our losses even further while also delivering profitability at the UK level. This bodes well for the future, but I must also acknowledge the challenges ahead - COVID continues to impact our customers, supply chains remain stretched and now volatile energy prices are another risk to manage. That said I remind investors that our revenue will go up as underlying energy prices increase and although a reducing spark spread does lower our margin, this is largely mitigated by a heat price set in reference to the gas price. In addition, the cash we can generate from a reduced margin on an increasing revenue remains strong and so we look forward to continuing to deliver profits.
HEADLINES
Full year positive EBITDA, UK level profit and reduced losses
Full year EBITDA increased to a positive $655,013 in 2021 compared to a positive $244,525 in 2020, an increase of 167.9% and the second year running that the Company has reported a full year positive EBITDA
Full year non-GAAP EBITDA increased to a positive $667,013 in 2021, up 153.5% on the positive $263,117 reported for the full year of 2020
Full year net profits for the UK operating company were 132,789 ($179,688) for 2021, up 294.2% from the net loss of 68,377 ($93,314) reported in 2020
The net loss from operations for the year ending December 31, 2021 reduced 65.7% to $137,789, compared to $402,488 for the year ending December 31, 2020
Total revenue increased 34.9% to $4,441,965 for the full year of 2020 compared to $ 3,292,061 for 2020
Energy revenue increased 36.2% to $4,411,770 for the year ending December 31, 2021 compared to $3,239,172 for the same period in 2020. This result beats the previous high of $4,192,482 set in 2019, an increase of $219,288 or 5.2%. Full year turnkey revenues fell from $52,889 in 2020 to $30,195 in 2021
Overall gross profit including depreciation for 2021 increased to $1,323,726 compared to $873,547 in 2020, a rise of 51.5%
Overall gross margin including depreciation increased to 29.8% from 26.5% while gross margin excluding depreciation and impairment improved to 47.5% for 2021 compared to 45.5% in 2020
Additional financial headlines
Liquidity and cash position at December 31, 2021 remained strong at $2,039,265, up 5.9% on the cash held last year
Full year 2021 GAAP diluted loss per share (EPS) was $0.002, an improvement over the $0.005 loss per share reported in 2020 and continuing the improvement first seen in 2019
The UK operating company benefited from pandemic related grants totalling 25,326 ($34,270) all of which related to the UK governments Coronavirus Job Retention Scheme that supported furloughed staff. These grants do no need to be repaid
In December 2021 the Company opted not to participate in an additional capital raise offered by its subsidiary undertaking, Cyprus based FCN Energy Logistics Limited (FCN), parent company and sole owner of Blue Grid Gas and Power S.A., as a result the Companys shareholding reduced to 23.3% but it retains a seat on the board of Blue Grid Gas and Power S.A.
Operational performance
Total energy production increased by 16.6% to 48,221,416 kWh for the year ending December 31, 2021 as compared 41,355,788 kWh for the same period in 2020. This was directly attributable to sites being able to reopen following government COVID restrictions being eased although this is remains below levels achieved pre-COVID in 2019
Operational fleet capacity at year-end 2021 was 46 systems at 43 sites totalling 5,810kW compared to 47 systems at 45 sites totalling 5,911kWe at the end of 2020. Of these 44 systems totalling 5,194kWe are under contract as On-Site Utility Solutions with the remaining 2 systems owned by customers but maintained by the Company
The Company brought into operation a single system of 101kW during 2021. This was the final system of five contracted to the Club Company and was installed at the Tytherington Golf and Country Club. There is no current backlog
Two systems were removed by the Company during 2021. These were the 101kW unit installed at the Brentwood Centre and a further 101kW unit at Salt Ayre Leisure Centre. The Brentwood Centre unit was under an OSU contract and its removal followed a customer insolvency, but as the project was funded by Close Leasing the Company suffered no financial loss. The Salt Ayre unit was removed at the customers request after its decision to stop using fossil fuelled equipment for heating its buildings. As this unit was owned by the customer the Company suffered no loss as result of its removal. In both cases the CHP units remain available to the Company for redeployment
UK business development
The Company launched its new Green CHP offer in July last year. This innovative solution to further decarbonise CHP is helping the Company to pivot its business development activity towards new sectors such as FMCG and other industrial users. It also resulted in the Company being shortlisted for the Net Zero Impact Award at the Energy Innovation Awards 2022, the winner of which will be announced in May
Business development activities were severely restricted due to COVID but a new Business Development Manager was hired in November and work is underway to build an expanded sales pipeline across multiple sectors including leisure, hospitality, healthcare, industrial and manufacturing
The Company signed a term sheet with an existing customer to replace its existing 4 CHP systems with new, higher efficiency units plus new solar PV and EV charging systems for each site. Once finalised these systems will be operated under the terms of new 15-year On Site Utility agreements
The Company signed a term sheet with a new project funder to provide funding for its range of on site energy generation solutions. Once finalised this agreement will replace the facility withdrawn by Societe Generale during 2021
European business development
The Company opted not to participate in an additional capital raise by Cyprus based FCN Energy Logistics Limited, in which it holds a minority share. As a result, it now holds a 23.3%, down from the 27.8% stake held on 31 December, 2020. FCN Energy Logistics Limited continues to hold 98.5% of Blue Grid & Power S.A. in Greece
In the Industrial Sector, Blue Grid signed an additional contract for supplying LNG to an Industrial Customer in Greece, making this the 2nd Greek and 3rd overall supply contract in its portfolio
In February 2021 Blue Grid successfully set up a joint venture with the Elin group, one of the leading fuel retailers in Greece, for the development of the regions first LNG road-fuelling stations. The joint company will operate under the trade name Blue Fuel and aims to complete the first phase of its development plan, consisting of 3 fuel stations in Greece by the first quarter of 2023
Blue Grid continues to make steps in establishing itself as a leading marine bunkering supplier of LNG in the Eastern Mediterranean region. To that end, Blue Grid has signed letters of intent and memorandums of understanding with leading maritime companies in the cruise, passenger, and merchant shipping sectors, operating vessels which utilize the port of Piraeus as well as other prominent Eastern Mediterranean ports
Aiming for regional growth, in June 2021, Blue Grid incorporated LNG Blue, an affiliated partnership based in Belgrade, Serbia, with local partners active in the natural gas infrastructure business. Relying on Blue Grids know-how in LNG and marketing expertise, and in combination with the advantages of a local presence, LNG Blue aims to lead the development of Industrial LNG sales in the countries of Serbia, Montenegro, Albania, Croatia, and North Macedonia.
In what Management view as a strong vote of confidence in Blue Grids activity to date and its potential going forward, the shareholders of FCN Energy Logistics Limited have concluded commercial terms with regards to a significant investment by the largest downstream LNG supplier in Europe, Molgas Energy Holdings, owned by French private equity firm InfraVia Capital Partners. Following Molgas investment, Blue Grid will focus on accelerating growth in LNG and bioLNG supply in the broader region of SE Europe and the Eastern Mediterranean
Outlook and risks
The Company reports that the outlook for 2022 appears good with increased revenue expected as underlying energy prices rise through the coming year. Now the UK operating company has delivered a net profit Management expects this both to continue and grow and the aim for 2022 is to deliver similar profitability at the consolidated level
Some operational challenges remain. For example, Management reports that although most existing customer sites have now reopened following the restrictions imposed by COVID during 2021, two sites remain closed as customers take the opportunity to refurbish existing facilities. In addition, although open some sites continue to experience lower occupancy rates and/or footfall and this is affecting demand at some of these sites. Finally, supply chain problems, particularly relating to the timely availability of certain spare parts has and could continue to cause extended downtime of units that develop a fault and require repair. In response Management has sought to increase the inventory of parts being held but the nature of the CHP equipment in uses means that it is not always possible to hold stock in reserve
The large increase in wholesale gas and electricity prices are yet to feed through to the retail prices paid by the Companys customers, although as individual customers fixed rate contracts end the Company expects that retail prices will increase. Rising energy prices will increase revenue as all On Site Utility customers are charged heat and power tariffs based on a fixed discount applied to their underlying retail price of gas and electricity. Similarly, the cost of sale will increase as gas prices rise but unless the ratio between the cost of gas and electricity (known as the spark spread) narrows significantly a margin can always be maintained. The Company does, however, expect gross margin to reduce in the coming year although with rising revenues gross profits could still rise
The accelerating need to reduce reliance on imported fossil fuels while also delivering on net zero targets is an opportunity and is creating strong interest however, natural gas-fuelled CHP remains disadvantaged compared to the electrification of heat using heat pumps and while support for heat networks is being encouraged. Alongside other market participants and trade associations, Management is engaged in lobbying for a stronger role for CHP, but it also continues to develop alternate technical and commercial solutions
Management believes that its investment in Blue Grid Gas and Power will not now deliver benefits until the final part of this year at the earliest, a direct effect of a volatile gas market
Other risks remain in the form of the availability of project credit, the impact of reducing grid electricity carbon emissions on future sales, a possible shift in government energy policy in response to the Ukrainian crisis or unexpected equipment failures
Future News Releases
News provided all financial results and news are only published on the Companys website (http://investors.eurositepower.co.uk/news-releases).
Anyone wishing to receive notice of a news release should subscribe to the email alerts service provided within the Companys investors pages (http://investors.eurositepower.co.uk/email-alerts).
Alternative Reporting Standard
The Company now files its financial statements under the Alternative Reporting Standard (ARS). Financial reports, which are prepared in accordance with US GAAP, are generally provided within 45 days of period end (90 days for fiscal year end results) and are reported to maintain at least the OTC Pink Limited Information tier.
Following corporate reorganisation and de-registration of the Companys common stock, with effect from January 1, 2017 foreign exchange gains/losses are reported in the cumulative translation adjustment (CTA) account on the Companys balance sheet.
Fiscal year-end financial reports for the operating company, EuroSite Power Limited are audited by a PCAOB registered firm and the Company provides current information for the purposes of SEC Rules 144(c)(2) and 10b-5 using the OTC Disclosure & News Service. Financial statements for EuroSite Power Limited are prepared in accordance with UK GAAP, and consequently differences in accounting treatment and presentation may arise.
On-Site Utility
EuroSite Power sells the energy produced from an onsite energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the energy produced by the system and receive a guaranteed discount rate on the price of the energy. All system capital, installation, operating expenses and support are paid by EuroSite Power.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Companys website and in financial statements held by OTC markets for the fiscal year ended December 31, 2021. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Investor contact:
Elias Samaras - CEO
+44 800 028 8001
elias.samaras@eurositepower.co.uk
AskMuncher
3 years ago
$EUSP Energy Innovation Awards 2022: EuroSite Power shortlisted for the Net Zero Impact Award
Press Release | 01/13/2022
EuroSite Power Inc. (OTCPK: EUSP):Following on from the launch of its new Green CHP solution last JuneEuroSite Power has announced that it has reached the final of the Energy Innovation Awards 2022. The company, which is known for its provision of green energy solutions, such as its new Green CHP; has been shortlisted for the Net Zero Impact Award alongside other illustrious names.
The Energy Innovation Awards 2022 are organised by the Energy Industries Council (EIC) and have been revamped this year to better reflect the rapidly changing nature of the industry, with 12 new categories representing the areas innovators are contributing to on the road to net zero. EuroSite Power, which is well-known for its On-Site Utility fully-funded energy as a service approach, says its new Green CHP offer has been designed for organisations needing an immediate transitional solution as part of their zero carbon goals and represents a key part of why the company was shortlisted.
The shortlisting for the Net Zero Impact Award recognises the significant innovations EuroSite Power has made. The companys Green CHP solution is part of a wide range of zero and low carbon solutions offered by the company, including a significant Solar PV offering, helping business reach their net zero ambitions. As a finalist alongside some of the most well-known names in the industry, the shortlisting reflects the significant steps the company has made in recent years in developing innovative energy solutions for net zero ambitions.
A fine achievement
We are delighted to have been shortlisted for the Net Zero Impact Award. It recognises our efforts in helping many businesses reach their net zero goals today, says EuroSite Powers Managing Director, Paul Hamblyn.
While many were talking about hydrogen-based solutions for the decarbonisation of heat we knew that at present over 95% of hydrogen production is still produced using fossil fuels through a process which createsbetween7to12 tonnes of emissions for every tonne of hydrogen produced. As a result, we knew we needed a zero carbon solution that could be delivered today, we needed a transitional technology. Our Green CHP system works with this reality to cut emissions today. The fact that our efforts in this area have been recognised is something we as a company can be very proud of, and we look forward to attending the ceremony in March where the final winner will be announced.
A key event in the industrys calendar
The Energy Innovation Awards are hosted by the EIC, a globally established not-for profit organisation founded in 2008. With a vision to provide an environment to accelerate innovation in the sector, all whilst helping to provide a more sustainable future for everyone, their annual awards ceremony promotes and recognises companies making significant strides towards those goals. Owned by 7 utility partners that work with over 7000 innovators around the world, the EIC is a major player in supporting innovation throughout the sector.
The EICs recognition of the innovation work conducted by EuroSite Powers team reflects the ever-changing nature of the industry. With net zero goals becoming increasingly prevalent and important for companies to achieve, it is vital that they have the support they need to meet these targets. Therefore, by giving firms of all sizes the recognition they deserve, it helps to support their goals as a whole and gives companies like EuroSite Power an important boost towards providing these solutions to the companies that need them.
About EuroSite Power
The Company provides institutional, commercial, and industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Companys website and in financial statements held by OTC markets for the fiscal year ended December 31, 2020. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
AskMuncher
3 years ago
$EUSP UK’s first Green CHP offering: a vital ‘transition’ technology for companies on their Net Zero journey
Press Release | 06/23/2021
EuroSite Power Inc. (OTCPK: EUSP): An alternative to traditional CHP systems has been developed by EuroSite Power. The companys Green CHP offering, which is powered by certified biomethane injection to provide a 100% zero carbon solution, is believed to be the first of its kind available in the UK.
Green CHP works exactly like a conventional CHP system; however, EuroSite Power ensures that the gas used to fuel the boiler is certified green. The company, which is well-known for its On-Site Utility fully-funded energy as a service approach say its Green CHP offer has been designed for organisations needing an immediate transitional solution as part of their zero carbon goals.
EuroSite Powers Green CHP solution uses similar reciprocating gas engine technology to a conventional CHP but takes advantage of certified biomethane injection to provide a 100% zero carbon solution. All the gas burned by EuroSite Powers Green CHP system is certified as renewable, using a widely accepted standard called Renewable Gas Guarantees of Origin (RGGOs)*. The company can also use the same approach to include gas used elsewhere in a customers building. This means users are able to legitimately state that they are using 100% green gas and have decarbonised their operational emissions from the use of heating in their buildings or process.
First of its kind
EuroSite Power sees the launch of its Green CHP offer as both necessary and timely.
Nearly half of the UKs greenhouse gas emissions are generated by the energy use of buildings, so it is highly likely that heating/cooling and powering sites is a significant source of emissions for most organisations, says EuroSite Powers Managing Director Paul Hamblyn. Decarbonising these processes will be a huge step forwards in a customersNet Zerojourney, and Green CHP makes this possible.
We are extremely excited to be able to bring a Green CHP offering to the market before anyone else in the energy arena. Weve been scanning the landscape for some time and are aware that many companies are considering heat pumps or are thinking ahead to hydrogen-based solutions for decarbonisation. Heat pumps certainly have their limitations and hydrogen may be green in theory, but at present over 95% of it is so-called grey hydrogen. This means it is produced using fossil fuels through a process which createsbetween7to12 tonnes of emissions for every tonne of hydrogen. Added to this, there is only one blue hydrogen** site in the world.
What all this means is a transitional technology is needed. Our Green CHP systems works with this reality to cut your emissions today. In addition, a Green CHP can also be considered hydrogen ready to the extent that it too can operate on a blend of hydrogen and natural gas,concludes Paul Hamblyn.
Low risk, fully-funded model
To accelerate uptake of Green CHP, EuroSite Power will deploy its On-Site Utility (OSU) model to fully-fund its on-site energy generation solutions. The company takes care of the upfront costs of installing the Green CHP solution, so that end customers do not have to make any significant financial outlay. The OSU model means that EuroSite Power installs, maintains and operates the whole system over the course of its lifetime.
UnderitsOSU model, EuroSite Power agrees to pay for the RGGO certificates which will make the gas green. This means that if the price of these certificates rises dramatically during the life ofthecontract, it will shoulder the cost. Since EuroSite Power is also paying the upfront costs of purchasing and installing the Green CHP system, there is minimal financial risk to the customers business.
Downloadable guide
The company expects its customers to have many questions about how a Green CHP technology can deliver solutions for Net Zero emissions ambitions. It has therefore published a guide entitledGREEN CHP: How to meet Net Zero Ambitions with a powerful alternative to conventional gas CHPwhich is available for download via its website.
About EuroSite Power
The Company provides institutional, commercial and industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Important factors could cause actual results to differ materially from those indicated by such forward-looking statements, as disclosed on the Companys website and in financial statements held by OTC markets for the fiscal year ended December 31, 2020. This press release does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
ENDS/
Notes for editors
* For greater understanding of Renewable Gas Guarantees of Origin (RGGOs) please view our downloadable guide. Or, view https://www.greengas.org.uk
**Blue hydrogen: The emissions from the fossil fuels are captured rather than going into the atmosphere. This is a promising development, but so far there is only one blue hydrogen site in the world.
Press enquiries to: Content Coms, Wiltshire, UK.
Sarah Wells-Gaston: +44(0)7833 460720
Joanna Watchman: +44(0)7802 802 252
Penny Stocks 2.0
4 years ago
$EUSP Huge News, $108,000,000 Portfolio EuroSIte Power announces completion of final Club Company installationPress Release | 03/11/2021
EuroSite Power Inc., (OTCQX: EUSP) an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, has now completed installation of the final of five combined heat and power (CHP) systems contracted with the Club Company. The five sites are located across the UK and will add 390kW to the Companys fleet of generation assets.
The Club Company owns and operate 15 Country Clubs in the UK, combining a traditional golf environment with state-of-art health & fitness facilities, 5 of the clubs have on site accommodation ranging from 7 to 56 bedrooms. They have won several prestigious Flame Awards (at both club and operator level) which recognise high levels of service within the health and fitness industry. The clubs c. 40,000 members can benefit from a variety of facilities, including gym, group fitness studios, swimming pools, wet spa, crche, health and beauty, tennis, championship golf courses, bar, restaurant and lounges with free Wi-Fi.
Under the terms of EuroSite Powers innovative 15 year On-Site Utility agreement the Club Company will benefit from high efficiency CHP systems that will provide energy in the form of heat and electricity at five of their Country Clubs. This energy is provided at a guaranteed lower rate than if the facility were to buy directly from the utility. With the final system now installed The Club Company will be able to benefit from up to 5,517,486 kWh of their annual energy needs using these on-site systems, giving them an estimated annual energy cost savings over 78,000 (US$108,000), with no capital or maintenance costs.
Providing a lifetime revenue to EuroSite Power of approximately 5 (US$7) million, the contract brings EuroSite Power's portfolio of operational systems in the UK to 48 with a value to the company of 74.7 (US$103.85) million from units totalling 6,012kW electrical capacity.
Club Company Director Paul Stephens said, "EuroSite Powers team worked with us to identify the clubs where we could benefit from adopting their On-Site Utility solution. Like all businesses cash flow is a vital concern so, with zero upfront costs, and immediate, guaranteed, risk-free savings, the EuroSite Power solution makes perfect sense. Coupled with the experience of the EuroSite Power team it made it a simple decision to sign the deal. Their experience in the hospitality industry showed through in the way they were able to swiftly tailor a bespoke technical and financial solution to maximise our savings."
Paul Hamblyn, Chief Operating Officer of EuroSite Power, added, "Despite the challenges of the pandemic all systems within our project backlog have now been commissioned increasing our operational fleet to 48 units. This project was made possible by the desire of the Club Company team to control their energy costs and our ability to work with them to deliver a tailored On-site Utility solution. This project shows that, as we move towards net zero, CHP can still deliver attractive long term savings for end users through its improved efficiency."
On-Site Utility (OSU)
EuroSite Power sells the energy produced from an on-site energy system to an individual property as an alternative to the outright sale of energy equipment. On-Site Utility solution customers only pay for the electricity or total energy produced by the system and receive either a guaranteed discount rate on the price of total energy or a fixed price for electricity. All system capital, installation, system maintenance and support are paid by EuroSite Power, and in the case of No Risk On-Site Utility solution customers all system fuel costs are also paid by EuroSite Power.
About EuroSite Power
The Company provides institutional, commercial and small industrial facilities with clean, reliable power, cooling, heat and hot water at lower costs than charged by conventional energy suppliers without any capital or start-up costs to the energy user. More information can be found at www.eurositepower.co.uk.
Future News Releases
Note that all financial results and news are only published on the Companys website (http://investors.eurositepower.co.uk/news-releases).
Anyone wishing to receive notice of a news release should subscribe to the email alerts service provided within the Companys investors pages (http://investors.eurositepower.co.uk/email-alerts).
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