Twenty-Six Energy Utilities Nationwide Offer Rebates for USA Technologies EnergyMiser(R).
MALVERN, Pa. -- USA Technologies (OTC Bulletin Board:USAT) announced today that all 24 energy utilities offering EnergyMiser rebates had renewed their incentive programs for 2007, and two more utilities had signed on for the first time, bringing the total to 26.
"Energy utilities are responding to higher energy costs by extending their incentives to encourage customers to purchase energy conservation technology and lower consumption," said Wendy Jenkins, Vice President of Marketing, USA Technologies. "USA Technologies is proud to collaborate with utilities prepared to take the lead and offer solutions that respond to the nation's need to conserve energy and lower C02 emissions," she said.
The two new utilities joining the program are The United Illuminating Company, of Connecticut, and the Western Massachusetts Electric Company. The United Illuminating Company is regional distribution utility providing electricity and energy-related services to more than 320,000 customers in the Greater New Haven and Greater Bridgeport areas. The Western Massachusetts Electric Company is a main distributor of electricity in western Massachusetts, serving more than 200,000 customers.
Connecticut Light and Power utility has increased their rebates, while Efficiency Maine energy utility is offering a custom rebate.
USA Technologies provides energy management technology that reduces the cost of operating vending machines and coolers by up to 46 percent. The utilities participating in the program offer rebates ranging from $30 to $125 per unit and cover their full product line - VendingMiser[R], CoolerMiser[TM], SnackMiser[TM], and PlugMiser[TM]. For a list of the utility companies offering rebates on USA Technologies' energy management products, visit http://www.usatech.com/energy_management/energy_rebates.php
USA Technologies estimates there are eight million vending machines in the United States with a similar number of coolers, costing up to $300 per unit annually to power.
"Energy prices remain high and demand continues to rise, encouraging consumers to seek out energy management technology that is quick and easy to install, and is inexpensive," said Ms. Jenkins. "Our customers are delighted with the savings from the rebate program as well as the reduction in energy consumption," she said.
About USA Technologies:
USA Technologies is a leader in the networking of wireless non-cash transactions, associated financial/network services and energy management. USA Technologies provides networked credit card and other non-cash systems in the vending, commercial laundry, hospitality and digital imaging industries. USA Technologies is an IBM Business Partner. The Company has marketing agreements with Cingular Wireless, Honeywell, Blackboard, and ZiLOG Corporation. For further information on USA Technologies, please visit www.usatech.com
Statement under the Private Securities Litigation Reform Act:
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, the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for its products , the ability to obtain new customers and the ability to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.