Cornerstone Real Estate Advisers Enhances Green Program, Enlists Lime Energy to Identify, Implement Clean Energy Savings Across Property Portfolio
HUNTERSVILLE, N.C.--(BUSINESS WIRE)-- Lime Energy Company (NASDAQ: LIME) and Cornerstone Real Estate Advisers, one of the world's largest real estate investment advisers, today announced the signing of a master service agreement to bring comprehensive energy efficiency lighting solutions to Cornerstone's portfolio of office, hotel, industrial, retail and residential assets across the United States.
Lime will integrate with Cornerstones existing building system management platform, make recommendations for lighting efficiency improvements and manage the implementation of energy conservation measures that match Cornerstones investment criteria.
The agreement enhances Cornerstones existing green program, which includes significant investments in environmental efficiencies in the daily management of its properties.
Our agreement with Lime is an integral part of our green program, which not only benefits the environment but also enhances the cash flow of our assets and the value of our portfolio, said Jerry Speltz, P.E., Vice President and Director of Engineering at Cornerstone. We know Lime has the national reach we need and the ability to manage each project through completion using best-in-class technology for each specific application.
Cornerstone has already demonstrated great insight into how energy efficiency buildings can improve real estate value and profitability, said Adam Procell, Executive Vice President at Lime Energy (LIME). As we work with Cornerstones individual property managers to leverage the engineering data they are capturing, we anticipate implementing clean energy solutions that allow for maximum return on investment.
For more information about Lime, visit www.lime-energy.com.
For more information about Cornerstone, visit www.cornerstoneadvisers.com.
About Lime Energy Co
Lime Energy is building a clean energy future. As one of the nations leading providers of clean energy solutions, Lime brings over 25 years of delivering economically viable efficiency and renewable energy solutions that benefit communities and protect the environment. Limes platform includes some of the energy industrys most experienced professionals and an expansive geographic footprint with over 350 employees at 18 locations in North America. Lime Energys services include integrated energy engineering, consulting and the implementation of solutions that enable customers to reduce their facilitys energy consumption, lower their operating and maintenance costs and reduce their carbon footprint. The company's stock is traded on NASDAQ under the symbol LIME. Additional information is available at www.lime-energy.com or by emailing firstname.lastname@example.org.
About Cornerstone Real Estate Advisers LLC
Cornerstone Real Estate Advisers LLC, with affiliate and subsidiary offices in the US, UK, Europe and Asia, is one of the worlds largest real estate investment advisers. It provides core and value-added investment and advisory services, including a comprehensive suite of real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. Cornerstone and its subsidiaries have assets under management totaling more than $33 billion. More information is at www.cornerstoneadvisers.com.
This news release includes forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements that reflect Lime Energy's current expectations about its future results, performance, prospects and opportunities. Lime Energy has tried to identify these forward-looking statements by using words and phrases such as "may," "expects," "anticipates," "believes," hope, "intends," "estimates," "plan," "should," "typical," "preliminary," or similar expressions. These forward-looking statements are based on information currently available to Lime Energy and are subject to a number of risks, uncertainties and other factors that could cause Lime Energy's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward- looking statements. These risks include those described in Lime Energy's most recent Annual Report on Form 10-K or as may be described from time to time in Lime Energy's subsequent SEC filings; such factors are incorporated here by reference.
Bristol Capital Ltd.
Glen Akselrod, 905-326-1888
Cornerstone Real Estate Advisers LLC
Patrick Collins, 617-553-0349
Source: Lime Energy CompanyCopyright Business Wire 2012