Nine Energy Utilities Join USA Technologies' EnergyMiser® Rebate Program
MALVERN, PA, October 23, 2007 - USA Technologies (NASDAQ: USAT) announced today that nine more major American utility companies have joined its EnergyMiser Rebate Program this year to help lower energy consumption in the United States.
Twenty nine energy utilities now offering rebates ranging from $15 to $180 per unit for USA Technologies' EnergyMiser energy conservation products.
In addition, USA Technologies reported that one more utility has signed on to participate in the EnergyMiser Turnkey Program, where more than 100 utilities have provided utility customers with EnergyMisers at no cost, including installation.
"We believe the increase in utilities joining both programs, and consumer interest in installing EnergyMisers is largely in response to the fuel crisis in the US, which continues to drive up energy costs," said Barbara Scott, Product Manager, USA Technologies. "Fuel prices are showing no sign of easing and already analysts are forecasting that the cost of heating this winter could rise by an average of 40 percent or more," she said.
The latest utility to offer the EnergyMiser free to its customers is Gainesville Regional Utilities (GRU) in Florida. GRU is owned by the City of Gainesville and is the most comprehensive utility in Florida, providing electric, water, waste water, telecommunications and natural gas services to approximately 89,000 retail and wholesale customers in Gainesville and surrounding areas.
"We are committed to becoming a national leader in energy efficiency and when we tested the EnergyMiser and realized the impact it would have on reducing energy consumption and cost, we decided to offer it to our customers immediately," said Steve Elliott, Commercial Analyst for Gainesville Regional Utilities.
"Energy prices will continue to rise in America as long as demand for energy continues to grow," said Ms. Scott. "The EnergyMiser product line can reduce energy consumption in vending machines, coolers and a variety of commercial products by as much as 46 percent, and can help play a role in reducing America's dependence on imported oil," she said.
GRU "kicked off" its rebate program with the installation of 250 VendingMisers, and recently followed up the order with another for 250 additional units.
The EnergyMiser product line includes the VendingMiser®, VM2iQ®, CoolerMiser?, CM2iQ®, SnackMiser? and PlugMiser?. To find out more, visit the EnergyMiser webpages.
The latest utilities to join the rebate program over the past 12 months are:
| Utility | Rebates |
|---|---|
| Arizona Public Service | VendingMiser & CoolerMiser, $100; SnackMiser, $25 |
| Austin Utilities (Minnesota) | VendingMiser, $50 |
| Gainesville Regional Utilities | VendingMiser, Turnkey |
| Los Angeles Dept. of Water & Power | VendingMiser, $90 |
| Owatonna Public Utilities | VendingMiser, $50 |
| Rochester Public Utilities | VendingMiser, $50 |
| The United Illuminating Company | Custom |
| Western Mass Electric Company | VendingMiser $75 |
| Wisconsin Focus on Energy | VendingMiser, $60; SnackMiser $15 |
USA Technologies believes if the estimated four million refrigerated vending machines and 10 million coolers in America were equipped with EnergyMisers, calculated at 35 percent savings, the approximate annual impact could be a:
- Reduction of 15,330,000,000 in kilo watt hours
- Savings of approximately $1,379,700,000
- Reduction of 22,995,000,000 lbs of C02
- Reduction of 7,000,000 tons of coal
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.