WOODBRIDGE, N.J.--(BUSINESS WIRE)--Lime Energy Co. (NASDAQ: LIME), a leading provider of energy services to utilities and their commercial customers, announced today that it has made a commitment to the White House to provide clean energy solutions to an additional 1,000 small businesses in low-to-moderate income communities across America. Lime Energy has already provided energy-efficient upgrades to over 100,000 small and mid-sized businesses (SMBs) across the nation, saving business owners over $1 billion in energy costs. When these savings are reinvested in the local economy, they are expected to create over 8,335 jobs over the next 10 years, which will be instrumental in driving economic growth in low-to-moderate income communities.
“At Lime Energy, we have already seen the immense benefits of implementing energy-efficient upgrades in low-to-moderate income communities,” said Adam Procell, President and CEO of Lime Energy. “As a result of our work, we have seen thousands of new jobs created and more than $1 billion funneled back into local economies. These clear benefits are why we’re genuinely excited about committing to provide upgrades for at least 1,000 additional small businesses.”
In announcing the White House Initiative, President Obama spoke of the tremendous potential for energy efficiency to boost the US economy, and referenced the success that companies like Lime Energy have had in deploying these solutions. “The real revolution going on here is that people are beginning to realize they can take more control over their own energy -- what they use, how much, when… Now, the good news is some utilities recognize this; they see what’s happening. They’re adapting their business model to seize the opportunities of this emerging energy reality. We have to lift up some of those success stories and the innovations that are taking place.”
Lime Energy’s work is a reflection of the company’s commitment to revitalizing and driving economic growth in urban communities across America. Lime Energy recently reinforced this commitment by relocating their corporate headquarters to Newark, NJ, consistent with company’s mission of nurturing the sustainability of local communities. The move demonstrates Lime Energy’s commitment to urban redevelopment and the creation of sustainable cities, which is a critical component of the world’s energy and resource future. To see the full White House press release, please click here: President Obama Announces New Actions to Bring Renewable Energy and Energy Efficiency to Households across the Country
About Lime Energy Co.
Lime Energy is building a new energy future. As a leading national provider of energy efficiency for small business and commercial 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.