Presidio Installs USA Technologies' VendingMiser(R) Devices to Lower Carbon Footprint and Energy Consumption
MALVERN, Pa., Jun 11, 2008 (BUSINESS WIRE) -- USA Technologies (NASDAQ: USAT) announced today that the Presidio, one of the most recognizable national parks in the United States, has installed VendingMiser, energy saving devices, on vending machines throughout the park.
The City of Monterey's Plans and Public Works Department coordinated with the Association of Monterey Bay Area Governments Energy Watch program to install the VendingMiser in the vending machines at the Presidio for free.
The Monterey Bay Area Government Energy Watch Program is a joint project of Pacific Gas and Electric Company and the Association of Monterey Bay Area Governments. The program offers residents and hospitality businesses in the counties of Monterey, San Benito, and Santa Cruz, and the cities within them, technology and tools to save energy, lower energy costs and operate more efficiently.
"We are excited that a National Park of the stature of the Presidio, which has nearly 800 buildings and attracts more than five million visitors a year, has installed the VendingMiser to help lower C02 emissions and reduce energy consumption," said Hank Ryan, Efficiency Data & Development, Capitola, California, USA Technologies' EnergyMiser distributor in Northern and Central California.
The Association of Monterey Bay Area Governments Energy Watch estimates that the VendingMiser will cut the Presidio's carbon footprint by 1.14 tons and save more than $17,000 per year by reducing Presidio's energy demand.
Typical energy consumption for a refrigerated vending machine can be as much as 3,500 kilowatt-hours (kWh) per year, equal to about $560 in annual energy cost per machine The VendingMiser can cut energy consumption in a refrigerated vending machine by up to 46 percent or as much as $260 in energy cost savings each year
"We are seeing an increase in spending by Federal, State and Local Governments, agencies and institutions, for our energy conservation technology, as well as interest from a growing public sector customer base," said Wendy Jenkins, Vice President of Marketing, USA Technologies. "And we expect demand to accelerate during the summer, especially as the effects of record high energy prices take hold. We are also seeing an increase in interest for our VM2iQ, CM2iQ, CoolerMiser, SnackMiser and PlugMiser - all products from our EnergyMiser line," she said.
USA Technologies studies have found that if the estimated four million refrigerated vending machines and 10 million coolers in America were equipped with EnergyMisers, calculated at a conservative 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
-- Savings equivalent to powering 1,500,147 homes
-- Savings equivalent to eliminating 851,666 cars from the roadway
VendingMiser also offer operators an unequalled value proposition for vending machine manufacturers and operators, lowering operational costs, improving efficiencies and productivity, and adding a competitive edge.
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. To view a Company overview presentation, visit http://www.usatech.com/company_info/dl/USAT_company_overview_2008_05_1 9.pdf (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
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 or Stephen P. Herbert, President & COO 800-633-0340 sherbert@usatech.com or Investor Relations Porter, LeVay & Rose David Porter or Marlon Nurse 212-564-4700
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