USA Technologies Expands Rebate Program with 22 Energy Utility Partners Nationwide
MALVERN, Pa, March 6, 2006 - USA Technologies (OTCBB: USAT) announced today it was renewing its Energy Rebate Program and expanding the savings to include its full energy management product line in response to the high price of energy in the US and consumer demand for price relief.
USA Technologies, a developer of energy management technology that reduces energy consumption by nearly half, is expanding its rebate program beyond refrigerated vending machines and snack machines to include refrigerated coolers, office plug loads, computer terminals, and commercial appliances. The Company is also renewing the program for another year for all 22 energy utilities already participating, and has launched a program to increase the number.
"The USAT energy rebate program offers rebates ranging up to $120 per unit, an attractive incentive to vending machine and cooler operators who pay $150-$300 to power their machines annually and can cut that by half," said Wendy Jenkins, Vice President, Marketing, USA Technologies. "USA Technologies is proud to collaborate with the nation's leading energy utilities to encourage every business to conserve, and every day bigger and more companies are joining, from bottling companies to the biggest retail stores in the world."
The 22 energy utilities are offering rebates on the purchase of USA Technologies' VendingMiser®, SnackMiser?, CoolerMiser?, and PlugMiser? energy management products. Utility Turn-Key Programs are also currently underway throughout the US and provide VendingMisers and installation to utility customers for free.
USAT has also launched an aggressive marketing campaign and was among 80 exhibitors demonstrating its entire energy efficiency product line to 500 of the largest energy consumers in the United States at the Edison Electric Institute (EEI) national accounts workshop in San Francisco last week.
"It was a 'sold out' conference with energy industry leaders from the government and the private sector such as Albertsons, McDonald's, Burger King, Hyatt Hotels, Blockbuster, Papa John's, Costco and Shell Oil, all interested in our Miser energy management product line, our national rebate program, and our government procurement programs," said Wendy Jenkins, Vice President, Marketing, USA Technologies. "We also demonstrated our success in reducing the consumption and cost of energy in school districts, colleges, military bases, towns and cities, and business big and small."
Last week USA Technologies announced it had sold a record 1000 VendingMisers to one of the biggest school districts in the nation, representing its single biggest sale to a single school district. It brings the number of school districts utilizing USA Technologies' energy management product line to nearly 1,400 and to more than 200 colleges in all 50 states. The school district is installing the VendingMisers on all vending machines, and expects to save $130,000 annually in energy bills. In recent weeks, USA Technologies has shipped to four new companies that supply energy conservation technology and services to national and international power utilities and end users. It also began shipping to five new cities and school districts in the US.
In addition, the Company is expanding an agreement with the General Services Administration (GSA) on schedule 70 which allows federal and state government agencies to purchase its product line at pre-approved prices online. USA Technologies has and will continue to advertise in federal trade publications, participate in GSA trade shows, establish web links with government energy agencies, and develop database management tools to streamline the government product procurement process.
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.