Burlington condo to cool residents this summer with 'Green' Geothermal System

A newly constructed 260-ton geothermal system is set to provide the 186-unit Strata Condominiums with 100% of its heating and cooling requirements, re-emphasizing the building's 'green' focus.

TORONTO AND BURLINGTON, ON, April 17, 2012 /CNW/ - Ameresco Canada, Inc., a wholly owned subsidiary of Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company throughout North America, today announced it completed construction on a 260 ton geothermal system in Burlington Ontario. It is expected that the geothermal system will save around 453,000kg of CO2 emissions per year, the equivalent to removing approximately 98 cars off the road.

"This geothermal system will bring the concept of living green and being environmentally-conscience to Strata's residents and tenants. The system will reduce the building's heating and cooling energy consumption by 33% (7800 GJ/yr) compared to a traditional natural gas system. Ameresco Canada is proud to work in partnership with Molinaro Group to design and implement a green technology that will have a positive effect on a large number of residents," said Mario Iusi, Ameresco Canada President.

The developers of the 21-storey, 186-unit, 277,000 square foot Strata Condominiums, Molinaro Group, are striving towards achieving LEED® Certification through its green and environmentally-sustainable measures, including the geothermal system.

"Ameresco Canada was able to understand the construction and lifestyle goals that we wanted to achieve within the Strata Condominiums and were able to implement a system that works to provide adequate heating and cooling all year long through a renewable energy source. The construction of a geothermal system reduces the need to use fossil fuels and helps provide protection from fluctuating energy prices," said Vince Molinaro, Molinaro Group President.

Ameresco Canada signed an energy supply agreement with Molinaro Group in September 2009 to provide the geothermal system. Ameresco Canada is responsible for the monitoring and maintenance of the geothermal system under a long-term energy agreement.

About The Molinaro Group

In 1963, a young man named Domenic Molinaro built his first building. It was such a high quality project that he quickly became known in the industry for his passion, commitment, and strong work ethic. 45 years and multiple industry awards later, the Molinaro Group is one of Southern Ontario's premier condominium and corporate building developers. With more than 10,000 residential units and over one million square feet of commercial development sold to date, the Molinaro Group has enviable expertise in the field. Now run by the second generation of Molinaros, the Molinaro Group has a strong reputation based on a commitment to quality, creativity, and continuous improvement, as well as the inspired placements of its projects. The Molinaro Group has built Burlington's most prestigious and sought-after condominiums and has helped to shape the community of the residential downtown core. For further information, visit www.molinarogroup.com.

About Ameresco Canada, Inc.

Ameresco Canada, Inc., a wholly owned subsidiary of Ameresco Inc. (NYSE:AMRC), is a full service energy management company that provides sustainable solutions and facility renewal services to new and existing facilities, as well as asset planning and energy and capital solutions to customers in the education, public housing, federal and provincial governments, municipalities, healthcare, industrial and commercial sectors. Ameresco Canada strives to present their clients with state-of-the-art renewable and sustainable solutions that reduce greenhouse gas emissions, conserve resources and reduce dependence on costly, non-renewable solutions by utilizing green design and construction as well as clean technologies such as solar, wind, geothermal, landfill gas, biomass, biogas and hydroelectric. For further information, visit www.ameresco.ca.

Vince Molinaro
[email protected]
905-637-9100

Craig Piercey
[email protected]
888-483-7267