HUNTERSVILLE, N.C.--(BUSINESS WIRE)--Lime Energy Co. (NASDAQ: LIME) announced today a 2-year extension of a contract valued at $5 million by AEP Ohio, a unit of American Electric Power (NYSE:AEP), to continue the marketing and implementation of their Small Business Express Program. This program was created by AEP Ohio to deliver cost-effective energy solutions to the hard-to-reach small business segment with an average demand of 100kw or less throughout their service footprint. Since late 2012, Lime Energy has successfully completed over 1,600 energy efficiency projects while providing total customer engagement and multi-channel outreach to over 25,000 small businesses.
“The Small Business Express Program has saved small businesses in Ohio millions of dollars,” said Adam Procell, President and CEO of Lime Energy. “By positively effecting their bottom line, the program has enabled customers to re-invest in their businesses. The upgrades provided by the program improve the workplace environment and increase the value of the buildings which house these small businesses.”
Lime Energy’s data-driven software platform and customer centric approach provides utilities with a mechanism to deliver a full spectrum of comprehensive energy services that foster long-term engagement. The Lime Energy integrated services model permits continuous provision of cost-effective energy solutions that provide small businesses with necessary efficiency measures. The combination of custom incentives, tailored products and intelligent engagement strategies drive high participation while developing new and enhanced relationships between customers and the utility.
The program’s benefits reaches far beyond just energy savings. The Small Business Express Program is a commitment by AEP Ohio to show small business customers that they understand the challenges they face and that AEP Ohio is dedicated to helping them succeed. “AEP Ohio is committed to delivering cost-effective energy solutions to all of our small business customers,” said Al Kohler, Small Business Express Program Manager. “Energy efficiency is good business and it provides substantial cost savings which helps stimulate economic growth in our local communities.”
About Lime Energy Co
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for small business customers, Lime designs and implements direct install programs for our utility clients which consistently exceed program savings goals. Our award-winning, integrated services programs provide utilities with reliable energy efficiency resources while delivering the highest levels of customer satisfaction. This next generation approach is helping utilities across the country to go deeper and broader with the cheapest, cleanest and fastest energy resource that we have – energy efficiency.
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," “hope,” "intends," "estimates," "plan," "should," "typical," "preliminary," 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 to differ materially from those expressed in, or implied by, these forward- looking statements. These risks include those described in Lime Energy's most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; such factors are incorporated here by reference.