Electric City has just announced that its subsidiary, Maximum Performance Group, is going to be installing 32 HGAV units in Memorial Sloan Kettering Cancer Center’s Manhattan Campus to help reduce the energy consumed and monitor the operations of the HGAV system. According the the news release, they were able to demonstrate 50% energy savings in a six day period.
Electric City just announced that John Mitola has resigned as CEO and Director. He will continue to assist as a consultant.
Electric City’s Maximum Performance Group announced an expansion of their Energy Management and Control units to all remaining PC Richard & Son facilities.
Electric City has announced that they will be borrowing $5 million via a four year convertible term loan. The company has also stated that they may be borrowing another $15 million under “substantially similar terms.”
Electric City has announced they will be holding their quarterly earnings conference call this Thursday, November 10, 2005, at 4:15pm Eastern.
According to the news release, “Investors can access the call by calling toll free 866-362-5158 and use passcode 73362962. International callers can dial 617-597-5397 and use the same passcode.”
The call will be available for replay until December 10, 2005.
I will not be able to listen to this call live, but I do intend to call and listen to it shortly thereafter. I look forward to hearing what the company has to say about how their business is progressing.
