Third Major Florida School District Implements USA Technologies' EnergyMiser® to Lower Energy Costs
MALVERN, Pa, May 18, 2006 -- USA Technologies (OTC Bulletin Board: USAT) announced today that a third major school district in Florida was installing its VendingMiser® energy management solution on all campus vending machines to save on energy costs.
Energy Reapers Inc., of Thonotosassa, Florida, a USA Technologies distributor, today began delivering 267 VendingMiser devices to the Manatee School District valued in excess of $38,000.
The Manatee district-wide order follows the successful implementation of 1025 VendingMiser devices at Orange County Public Schools in Orlando and 800 VendingMiser devices at the Pinellas County School District.
"With energy prices still rising in Florida and the beginning of the hurricane season less than a month away, Florida schools and colleges, stores and businesses are turning to energy conservation technology and to generators to keep electricity flowing and at a cost they can afford," said Brian Frost, President of Energy Reapers.
New budgets for school districts go into effect July 1, leading to many schools and colleges making end-of-year purchases, and planning future purchases going into the next financial year.
"There has been a noticeable increase in the number of schools and colleges investing in energy conservation technology to ease the burden on school budgets and school tax payers," said Mr. Frost.
USAT reported that Energy Reapers Inc has indicated that it is also in negotiations to install additional VendingMisers at several other facilities in Florida including several more school districts, public and private universities, private schools and a number of theme parks.
The purchase of energy technology was also being influenced by a Florida State sales tax moratorium on the purchase of products for hurricane preparedness, covering everything from gas-powered generators to flashlights.
There are an estimated eight million vending machines and 10 million glass front coolers in the US alone, each costing between $200-400 a year in electricity to operate for a total cost of more than $5 billion a year in electricity. USAT's EnergyMiser devices can reduce the energy consumed by 20-45%, saving the American economy between $1 - 2.5 billion a year. The misers can be installed in minutes, save power immediately, and pay for themselves in under a year.
The VendingMiser devices to be installed at Manatee are expected by USAT to save the school district in excess of $40,000 annually. Orange County schools energy savings are estimated by USAT at $180,000 annually and at $120,000 annually at the Pinellas County school district.
Energy Reapers reports it is able to directly offer the same price and terms and conditions offered to Manatee to other public agencies seeking to purchase the USAT energy management technology.
xxx -->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.