News
UR Energy to Install Twenty-Eight EnerLume / EM(R) Units
HAMDEN, Conn.-(Business Wire)-February 19, 2008 - EnerLume Energy Management Corp., (OTCBB:ENLU.OB, www.enerlume.com), announces that UR Energy, a channel partner distributor of the EnerLume/EM(R) has received orders to install 28 EnerLume/ EM(R) units in four locations around New York and New Jersey. According to UR Energy, they believe these installations will represent an estimated energy savings of 2,754,205 kWh per year, resulting in their customers realizing an annual cost savings of $413,130 with an average break even point of approximately 16 months.
"After retrofitting and replacing lighting fixtures in over 5,000 commercial and industrial buildings, we are ecstatic about the potential for the EnerLume pipe EM (R) and the savings that will be achieved with our existing and future customers," said Kenneth DeAngelo, President of UR Energy. "The EnerLume pipe EM (R) is a great opportunity for businesses to achieve maximum energy savings from their fluorescent lighting systems."
The EnerLume pipe EM(R) is an energy saving device for use with new or existing fluorescent lighting systems. The product can reduce electrical consumption with negligible foot-candle loss for a savings of up to 15%. In addition to the ongoing 15% reduction in energy consumption, customers may offset the installed cost of the EnerLume/EM(R) with incentives offered from their utility company.
The 28 EnerLume/EM(R) units were sold to our master channel partner Power Reduction Services as part of their initial inventory purchase requirement pursuant to the master channel partner agreement dated February 7, 2007 and was accounted for in our previously filed fiscal year 2007 SEC reports.
About EnerLume Energy Management Corp.
EnerLume Energy Management Corp., through its subsidiaries, provides energy management conservation products and services in the United States. Its focus is energy conservation, which includes the EnerLume pipe EM(R), a proprietary digital device for reducing energy consumption on fluorescent lighting systems and the installation and design of electrical and energy management systems.
About UR energy Inc.
UR Energy designs, installs, maintain, and finances retrofit and upgrade projects to improve the energy efficiency of buildings and facilities. UR Energy has an independent distributor contract to market, sell and install the EnerLume / EM(R) through EnerLume's master channel partner, Power Reduction Services. For more information please visit: www.urenergyinc.com
Forward Looking Statements
All information in this news release consists of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements contained in this release, which are not historical facts and that relate to future plans or projected results of EnerLume Energy Management Corp. and its subsidiaries, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties can include the risks associated with EnerLume's entry into new commercial energy markets that require the company to develop demand for its products, its ability to access the capital markets, litigation, regulatory investigations and many other risks described in its Securities and Exchange Commission filings.. The most significant of these uncertainties are described in our 2007 Annual Report on Form 10-K all of which any reader of this release is encouraged to study (including all amendments to those reports) and exhibits to those reports, and include (but are not limited to) the following: the costs, difficulties, and uncertainties related to the implementation of the early stage energy management division, organizational changes and the integration of acquired businesses; the potential loss of one or more key customer or supplier relationships or changes to the terms of those relationships; difficulties and uncertainties related to transitions in senior management; the results, consequences, effects or timing of any inquiry or investigation by or settlement discussions with any regulatory authority or any legal and administrative proceedings; the impact of previously announced restatements; difficulties or delays or increased costs in implementing our overall prospective business plan; and general economic and market conditions. We undertake no obligation to update or revise any forward-looking statement. Readers of this release are cautioned not to put undue reliance on forward-looking statements.
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