Bed Bath & Beyond® Focuses on Vending Machines in Effort to Lower Energy Consumption and C02 Emissions
MALVERN, PA, August 23, 2007 - USA Technologies (NASDAQ: USAT) announced today that Bed Bath & Beyond, America's premier home furnishings retail chain, is installing VendingMiser devices to help lower energy consumption and C02 emissions.
"Bed Bath & Beyond is constantly seeking out ways to give back to the community, and helping to lower energy consumption and C02 emission has been a national priority," said Richard Braun, Director of Purchasing, Bed Bath & Beyond. "We would be delighted if our initiative to install the latest energy conservation technology in our stores draws attention to how retail stores can take action and significantly contribute towards protecting the environment."
The Sierra Club has been monitoring the performance of USA Technologies EnergyMiser product line and has complimented Bed Bath & Beyond for taking this action to help preserve the environment.
"Bed Bath & Beyond's efforts to improve the energy efficiency of their operations make sense for the economic and environmental bottom line," said Dave Hamilton, Director of the Sierra Club's Global Warming and Energy Program. "Investing in more efficient vending machines, coolers, and other commercial appliances is a smart way to reduce energy waste, costs and global warming pollution."
Universal Vending Management, a major USA Technologies distributor, has been contracted to install the VendingMisers in Bed Bath & Beyond stores. "UVM is excited to be taking the lead in driving energy conservation in the vending industry, and by working with major brand names such as Bed Bath & Beyond, we believe we can help make a difference," said Bruce Lipkin, Chairman and CEO, Universal Vending Management. "As well as lower C02 emissions, we are helping our customers nationwide lower their energy costs, which adds to the bottom line and improves competitive edge," he said.
Refrigerated vending machines cost an estimated $300-$400 a year to operate. The VendingMiser has the capability of reducing the electricity needed to operate vending machines by up to 46 percent.
x -->With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, the ability to continually obtained increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether its pending patents will be granted or defendable; validity of intellectual property and patents of USA, the ability of USA to license its patents, the ability of USA to commercialize its developmental products, technological and/or other factors, which could cause actual results or revenues to differ materially from those contemplated by these statements.