Ameresco Announces Completion of Comprehensive Energy and Water Efficiency Project with Massachusetts College of Art and Design

Rhea-AI Summary

Ameresco (NYSE: AMRC) has successfully completed an energy and water retrofits project at the Massachusetts College of Art and Design (MassArt). The project included upgrades across seven campus buildings, implementing 15 energy conservation measures, which are expected to generate $436,385 in annual cost savings. Covering approximately 800,000 square feet, Ameresco managed all aspects from design to installation. This initiative aims to enhance sustainability and support further infrastructure improvements at MassArt.

Positive

• Completion of a major energy efficiency project at MassArt.
• Expected annual cost savings of $436,385 for MassArt.
• Enhancements in sustainability to support future university projects.

Negative

• The announcement does not guarantee immediate revenue impact as the project completed in 2021 is no longer part of contracted backlog.

Addition of new equipment and control systems expected to save the university up to $436,385 in annual cost savings

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its energy and water retrofits project with the Massachusetts College of Art and Design (MassArt). The project included facility upgrades across seven campus buildings and 15 energy conservation measures.

Ameresco announces completion of comprehensive energy and water efficiency project with Massachusetts College of Art and Design. Image Source: MassArt, Public domain, via Wikimedia Commons.

Services provided by Ameresco included improved lighting controls, building management system and controls upgrades, steam heating improvements, make up air units and exhaust fans installations, real-time metering – demand response, general building code upgrades and more. MassArt is targeted to amass $436,385 in annual cost savings, which will allow the university to implement additional academic and infrastructure upgrades.

Construction covered approximately 800,000 square feet across university facilities, with Ameresco leading the design, labor and material procurement, installation, testing and commissioning, measurement and verification, inspection, training and more throughout the entirety of the project.

“One of the amazing things about working with customers in the higher education space is seeing how they can improve their learning environments from the cost savings that come from clean energy improvements,” said Pete Christakis, SVP of Construction and Operations. “We have been coordinating this project with MassArt since 2018. This is a very important step for the university’s future sustainability goals, and we are happy to help to lead the charge.”

Ameresco’s work with MassArt is the latest addition to its high-profile education pipeline. The cleantech integrator’s expertise in providing solutions to higher education institutions consists of ongoing relationships with universities including: Northwestern University, Wellesley College, Northeastern University, The Medical University of South Carolina, Tarleton State University, Trent University and more.

To learn more about the energy efficiency solutions offered by Ameresco, visit www.ameresco.com/energy-efficiency/.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

About Massachusetts College of Art and Design

MassArt is grounded in history, creativity, and foresight. Every era requires vision as part of its progress, and MassArt was founded on a vision of the future that included all citizens in its gaze. Started as a revolutionary idea, MassArt continues to look toward what is extraordinary and cutting-edge - and who will lead the way - in art, design, and education. Our students engage deeply with the world outside their studios and classrooms, and our community is broad, influential, and encompassing. MassArt is the Commonwealth’s art and design school, a place with wide reach, where the hardest, most important, and most rewarding work of our students, staff, and affiliates, is to keep our eyes open and continue expanding our vision.

The announcement of completion of a customer’s project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was completed in 2021 is no longer included in our contracted backlog.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005872/en/

Ameresco: Leila Dillon, 508-661-2264, news@ameresco.com

Source: Ameresco, Inc.

FAQ

What was the recent project completed by Ameresco at MassArt?

Ameresco completed an energy and water retrofits project at the Massachusetts College of Art and Design, enhancing facility efficiency.

How much annual savings is MassArt expected to achieve from the Ameresco project?

MassArt is expected to save approximately $436,385 annually following the project.

What types of upgrades were included in the Ameresco project at MassArt?

The project included improved lighting controls, building management system upgrades, steam heating improvements, and real-time metering.

When was the Ameresco project at MassArt completed?

The project was completed in 2021.

What is the significance of Ameresco's project for MassArt?

This project supports MassArt's sustainability goals and allows for further academic and infrastructure enhancements.