USA Technologies Ships to 19 More VendingMiser® Customers Nationwide
MALVERN, Pa, March 9, 2006 -- USA Technologies, Inc. (OTC Bulletin Board: USAT) announced today it had begun shipping several thousand more VendingMiser devices to 19 new customers nationwide as schools, colleges, industry and governments turned to it's technology to help lower the rising cost of energy.
"In recent weeks we have seen an acceleration in orders for our energy conservation products, and especially an increase in demand from schools and colleges that consider our technology a fast and effective answer to helping keep energy costs down on campus," said John McLaughlin, VP of Sales, USA Technologies.
USA Technologies confirmed today that the Orange County School District, in Florida, the 12th biggest school district in the United States, this week purchased 1,000 VendingMiser devices. The Company expects sales in Florida alone to increase in the coming months in response to the higher energy costs as a result of hurricane damage.
The latest school districts and colleges installing the VendingMiser are: Manatee School District and Orange County School District, Florida; Ferris State University, Romeo School District, and Henry Ford Community College, Michigan; Eastern Iowa Community College, Iowa Central Community College, and Monticello School District, Iowa; Blue River Community College, Kansas; and Minot School District and Bismarck School District, North Dakota.
The Company reported it was also shipping the VendingMiser to the City of Charlotte, North Carolina; Sarasota County, Florida; the State of Minnesota, and the State of Iowa.
Five energy services companies have also begun taking delivery of USA Technologies' products including: Energy Conservation and Supply, of New York, Conservation Solutions in Action, of Massachusetts; and Energy Reapers Inc. of Florida. In addition, Miser products are being shipped to two national energy services companies with headquarters in Chicago, Illinois, and Minneapolis, Wisconsin. Both companies have offices spread across the country.
"Our VendingMiser technology is helping schools reduce the consumption of power in campus vending machines by as much as half, and for some districts the savings could amount to hundreds of thousands of dollars annually, and up to millions of dollars for the life expectancy of the technology," said Mr. McLaughlin. "Educators are realizing the benefits of our product line in lowering the amount of energy needed to power not only vending machines, but computer terminals, appliances and plug loads," he said.
"Students are environmentally conscious and respect the fact that their schools are implementing measures to reduce energy consumption and costs," said Carl Goeb, of Power Savers LLC., a USA Technologies reseller, based in Spring Lake, Michigan. "School administrators at Romeo School District realized that by installing energy saving technology on their vending machines they would save money and avoid the need to cut budgets elsewhere to pay for higher priced electricity," he said.
Just recently, USA Technologies announced it had begun deploying several thousand VendingMisers to four new energy services companies in New England, Washington State, Idaho, and Alberta, Canada. The Canadian company supplies customers in 25 countries.
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.