Number of Energy Utilities Offering EnergyMiser(R) Rebates Nearly Doubles to 45 Nationwide
MALVERN, Pa., Mar 05, 2008 (BUSINESS WIRE) -- USA Technologies (NASDAQ:USAT) announced today that the number of major U.S. energy utilities participating in its EnergyMiser Rebate Program had nearly doubled since last year to include 45 utility companies.
USA Technologies reported that during 2007, 24 utilities were offering customers rebates ranging between $15 and $180 for the EnergyMiser energy management product line. The number of utilities offering rebates has risen to 45 for 2008.
"Energy utilities are concerned about increasing energy consumption as well as higher energy prices, and are extending their incentives to help customers to purchase energy conservation technology," said Stephen P. Herbert, President and COO, USA Technologies. "USA Technologies is proud to collaborate with progressive utilities prepared to take the lead and offer solutions that respond to the nation's need to conserve energy and help lower energy costs," he said.
USA Technologies reported that another four utilities were participating in a special company "turnkey" program, which provides utility customers with EnergyMiser products such as the VendingMiser(R), CoolerMiser(TM), and/or SnackMiser(TM) controllers and installation, at no cost.
"Utility companies are leading by example, working with towns and cities, big and small, to purchase conservation technology and help ease the ever increasing burden on the national energy grid," said Mr. Herbert.
Electricity rates have risen dramatically this winter, and more than doubling in some states, with global demand for energy continuing to grow.
"Through incentives, such as rebates, we can generate greater awareness of the benefits of conservation technology and help lower energy consumption, as well energy cost and reduce the emission of C02 gasses," said Mr. Herbert. "Our customers are delighted with the savings from the rebate program as well as the resultant reduction in energy consumption."
USA Technologies provides energy management technology that reduces the cost of operating vending machines and coolers by up to 46 percent. USA Technologies estimates there are eight million vending machines in the United States with a similar number of coolers, costing up to $300 per unit annually to operate.
For a list of the utility companies offering rebates on USA Technologies energy management products, visit http://www.usatech.com/energy_management/energy_rebates.php
About USA Technologies:
USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. The Company has agreements with AT&T, Honeywell, Blackboard, MasterCard and others. For further information on USA Technologies, please visit www.usatech.com.
Statement under the Private Securities Litigation Reform Act:
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.
SOURCE: USA Technologies
USA Technologies George Jensen, Chairman & CEO Stephen P. Herbert, President & COO 800-633-0340 sherbert@usatech.com or Investor Relations Contact: Porter, LeVay & Rose David Porter Marlon Nurse 212-564-4700
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