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Ameresco Completes Comprehensive Energy Efficiency Project with New Mexico Institute of Mining and Technology
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Rhea-AI Summary
Ameresco (NYSE: AMRC) has completed a significant utility savings project with New Mexico Tech, projected to save the university over $540,000 annually. This 20-year partnership aims to enhance campus facility operations and sustainability through upgrades like 666.8 kW-DC solar systems, LED retrofits, and advanced control systems. Dr. Cleve McDaniel emphasized the project's alignment with the university's sustainability goals. This initiative not only improves energy efficiency but also supports long-term cash flow and reliability for the institution.
Positive
Projected annual savings of over $540,000 for New Mexico Tech.
Long-term partnership enhances sustainability and operational reliability.
Diverse energy efficiency upgrades improve facility operations.
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Implemented utility upgrades are estimated to save New Mexico Tech over $540,000 annually and enhance the reliability of campus facility operations
FRAMINGHAM, Mass. & SOCORRO, N.M.--(BUSINESS WIRE)--
Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator specializing in energy efficiency and renewable energy, today announced the completion of its combined guaranteed utility savings project with the New Mexico Institute of Mining and Technology (New Mexico Tech). Following an audit of New Mexico Tech’s facilities, the university entered into a 20-year partnership with Ameresco to address needed upgrades and provide long-term cash flow and reliability benefits well beyond the contract term.
Ameresco completes partnership with New Mexico Tech for comprehensive energy efficiency project to enhance reliability of campus facility operations and save more than $540,000 annually. (Photo: Business Wire)
As part of the comprehensive project, Ameresco installed a variety of renewable and energy efficient technologies that are estimated to save New Mexico Tech over $540,000 annually in energy savings and improve its overall sustainability efforts. Implemented upgrades include the construction of 666.8 kW-DC of solar photovoltaic covered parking; water conservation measures; equipment level direct digital control upgrades; building scheduling and controls optimization; chiller plant controls optimization; lab air system rebalancing; variable flow chilled water system pumping; and interior and exterior LED lighting retrofits across campus.
“New Mexico Tech has a strong science and technology education and research mission that includes an emphasis on resource sustainability and energy efficiency,” said Dr. Cleve McDaniel, Vice President for Administration and Finance at New Mexico Tech. “Our work with Ameresco to dramatically reduce our campus energy usage and costs fits perfectly with our mission. This project was truly a collaborative effort and we very much appreciated Ameresco’s knowledge and effective implementation of state-of-the art solutions that have enabled us to better serve our campus and community.”
For New Mexico Tech, the administered upgrades are designed to enhance the reliability of facility operations, as well as improve the quality of learning and research environments for students and faculty.
“Working with an institution like New Mexico Tech, one of the top STEM schools in the nation, has been especially meaningful for us at Ameresco as we hope to introduce the next generation to the benefits of efficient and renewable energy use,” said Bob Georgeoff, EVP, Ameresco. “We commend campus leadership for prioritizing a project that will increase energy conservation, reduce energy and utility costs and address campus deferred maintenance, all in an economically responsible manner that adds clean energy resources to the region.”
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 Europe. 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 Europe. For more information, visit www.ameresco.com.
About New Mexico Institute of Mining and Technology
Founded in 1889, New Mexico Institute of Mining and Technology (New Mexico Tech) aspires to be a preeminent community of scholars dedicated to research, education, and innovation – advancing science, technology, engineering, and mathematics – to meet the challenges of tomorrow. New Mexico Tech serves the state of New Mexico and beyond through education, research, and service, focused in science, technology, engineering, and mathematics. Involved faculty educate a diverse student body in rigorous and collaborative programs, preparing scientists and engineers for the future. New Mexico Tech’s innovative and interdisciplinary research expands the reach of humanity's knowledge and capabilities.
The announcement of a customer’s completion of a 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 had already been in Ameresco’s previously reported backlog and was fully recognized as revenue prior to the end of Q1 2022.
