ELK GROVE VILLAGE, Ill., March 9, 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 an energy efficiency contract to design and install geothermal heat pump technology for a Pennsylvania housing authority. The AEM contract is with an ESCO partner and includes upgrading standard gas furnaces and window air conditioning units in multiple apartments to ground source heat pumps (GSHP) in order to provide better comfort and a lower operating cost. Geothermal heat pumps are highly efficient to heat and cool buildings because they rely on the relatively steady ground temperature to offset seasonal temperature variations. According to the U.S. EPA, GSHP technology is "the most energy efficient and environmentally clean of all heating and cooling options."
"This contract adds to our long list of geothermal heat pump installations -- a technology that makes sense because of its outstanding efficiency," stated Jim Smith, President of AEM. "Energy efficiency retrofit projects like this create jobs, reduce operating expenses and provide attractive returns on taxpayer dollars, so we are really providing a 'win-win' that saves energy and reduces greenhouse gas emissions," 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.