American DG Energy Inc
(AMEX: ADGE)
1.44
-0.07
-4.64%
-0.07
-4.64%
MORE ON ADGE
COMPANY INFORMATION
| Exchange: | American Stock Exchange |
| Stock: | American DG Energy, Inc. |
| Industry: | Diversified Industrials |
| Employees: | 27 |
DESCRIPTION
| American Dg Energy Inc., a Delaware corporation was incorporated on July 24, 2001. The Company distributes, owns and operates clean, on-site energy systems that produce electricity, hot water, heat and cooling. The Company’s business model is to own the equipment that it installs at customers’ facilities and to sell the energy produced by these systems to the customers on a long-term contractual basis. It calls this business the American DG Energy ‘On-Site Utility’. The Company offers natural gas powered cogeneration systems that are highly reliable and energy efficient. Its cogeneration systems produce electricity from an internal combustion engine driving a generator, while the heat from the engine and exhaust is recovered and typically used to produce heat and hot water for use at the site. It also distributes and operates water chiller systems for building cooling applications that operate in a similar manner, except that the engine’s power drives a large air-conditioning compressor while recovering heat for hot water. DG, or cogeneration, is the production of two sources or two types of energy from a single energy source. It uses technology that utilizes a low-cost, mass-produced, internal combustion engine from General Motors, used mainly in light trucks and sport utility vehicles that are modified to run on natural gas. The Company’s supplies cogeneration systems that are capable of meeting the demands of commercial users and that could be connected to the existing utility grid. Its main energy and products are: Energy Sales which includes Electricity and Thermal (Hot Water, Heat and Cooling); Energy Producing Products which include Cogeneration Packages, Chillers, Natural Gas Heat Pumps, Complementary Energy Equipment (e.g., boilers) and Alternative Energy Equipment (e.g., solar, fuel cells) ; Turnkey Installation Energy Producing Products with Incentives and Other Revenue Opportunities. The Company’s On-Site Utility services are sold directly to end-users by its in-house marketing team and by established sales agents and representatives. It offers standardized packages of energy, equipment and services suited to the needs of property owners and operators in healthcare, hospitality, large residential, athletic facilities and certain industrial sites. In target markets, it competes with utility companies such as Con Edison, Inc. and Long Island Power Authority in New York, Public Service Electric and Gas Company (PSE&G) in New Jersey, and NSTAR and National Grid USA Service Company, Inc. in Massachusetts The Company is required to file for local construction permits (electrical, mechanical and the like) and utility interconnects. |
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