Onsite Energy Corp. Signs Agreement With Major Food Processing Company.Business Editors CARLSBAD, Calif.--(BUSINESS WIRE)--Oct. 9, 2000 Onsite Energy Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ONSE) ("Onsite") Monday announced that it has signed an agreement with a major frozen food processing Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes. company located in Central California Central California can refer to one of several divisions or regions of the U.S state of California:
This project is in addition to the projects previously announced at Central Cold Storage, Del Mar Foods and Grimmway Farms. Onsite is implementing a turnkey project to improve the efficiency of the refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. system at the facility that involves installation of new condensers and purgers. In addition, Onsite is working as project manager and as the administrator of the incentives for the project provided by California's Standard Performance Contract (SPC 1. (business) SPC - Statistical Process Control. Something to do with quality management. 2. (body) SPC - Software Productivity Centre. 3. (company) SPC - Software Publishing Corporation. 4. ) program. This includes the detailed monitoring and verification of energy savings required under the program. Revenues to Onsite are anticipated to be approximately $525,000 for the project plus a share of the energy savings for the first two years. The customer is anticipated to realize approximately $95,000 in annual energy savings from the efficiency measures and approximately $400,000 in incentives. This project is another in a growing list of customers in the food processing and refrigerated re·frig·er·ate tr.v. re·frig·er·at·ed, re·frig·er·at·ing, re·frig·er·ates 1. To cool or chill (a substance). 2. To preserve (food) by chilling. cold storage industry. "Onsite is a strong supporter of the food processing industry and the California League of Food Processors. Onsite is committed to work effectively with the food processing and refrigeration community on energy saving opportunities," said Elizabeth Lowe, Onsite's vice president responsible for Northern California sales and operations. "We expect additional projects from this customer as the SPC incentive program continues to make project paybacks attractive for these large industrial customers." Onsite Energy Corp. is a comprehensive energy service company that assists its customers in reducing electricity and fuel costs by developing, designing, constructing, owning and operating efficient, environmentally sound energy projects. Onsite also offers a full range of professional consulting services, which include direct access planning, market assessments, business strategy and public policy analyses, utility deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. and environmental impact/feasibility studies. It is Onsite's mission to help customers save money through independent energy solutions. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement Included in this release may be "forward-looking statements." Although Onsite believes the financial expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. Additional information regarding factors that could potentially affect Onsite's financial results may be found in Onsite's filings with the Securities and Exchange Commission. |
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