EuroSite Power Raises Over $3.4 Million
By Eurosite Power Inc., PRNESunday, April 3, 2011
Proceeds to Be Used to Fund Growth of On-Site Utility Energy Sites
WALTHAM, Massachusetts, April 4, 2011 - EuroSite Power Inc., an On-Site Utility, offering clean electricity,
heat, hot water and cooling solutions to healthcare, multifamily housing and
hotel properties in the United Kingdom and Europe, today announced that since
its inception in July of 2010 the Company has sold in separate transactions
restricted common stock for an aggregate of $3,461,000 at $1.00 per share.
The proceeds of the private placement will be used to fund installations for
EuroSite Power in the United Kingdom and Europe and for general corporate and
working capital purposes.
"We have raised this amount of capital to ensure the business gets off to
a strong start and to fund our energy projects," said John Hatsopoulos,
Chairman of the Company.
This press release does not and shall not constitute an offer to sell or
the solicitation of any offer to buy any of the securities, nor shall there
be any sale of the securities, in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any state.
About EuroSite Power
EuroSite Power provides institutional, commercial and small industrial
properties with clean, reliable power, cooling, heat and hot water at lower
costs than charged by local utilities - without any capital or start-up costs
to the energy user. EuroSite Power, formed to introduce the On-Site Utility
solution into the European market, is a subsidiary of American DG Energy Inc.
(NYSE Amex: ADGE) which is headquartered in Waltham, Massachusetts. 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 Company's website and in Securities and Exchange Commission
filings. 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.
Investors, John N. Hatsopoulos, EuroSite Power Inc., +1-781-522-6020, john.hatsopoulos at eurositepower.co.uk or Media, Barry J. Sanders, EuroSite Power Inc., +1-781-522-6010, barry.sanders at eurositepower.co.uk
Tags: April 4, Eurosite Power Inc., Massachusetts, United Kingdom, Waltham