ATLANTA--(BUSINESS WIRE)--SERVIDYNE, INC. (Nasdaq: SERV), an energy efficiency and demand response company, today announced that it has entered into a contract for approximately $1.75 million with one of the world’s largest food manufacturing companies to install Electric Vehicle Supply Equipment (EVSE) in multiple facilities across the U.S. The customer, who is converting its delivery fleet to electric vehicles, selected Servidyne to design and install the re-charging stations based on the Company’s proven engineering and energy monitoring and controls expertise. The new contract followed an initial successful pilot installation at one of the customer’s facilities.
“This project kicks off an important new service offering for our Company,” explained Todd Jarvis, Servidyne’s President and Chief Operating Officer. “We are committed to providing our EV Infrastructure solution to the broader marketplace, and other blue chip companies are currently considering engaging Servidyne to provide similar solutions as well. It can make a lot of sense for many of our customers to use electric vehicles as part of their fleet. Our involvement helps to provide both insight and a strategy to our customers as to how the additional electric loads will be integrated into the overall electric usage of their facilities. Our energy efficiency expertise helps assure our customers that their EV implementation efforts will be deployed in a manner that can yield the highest return on their investment in this new technology.”
“Installing EVSE represents a great new opportunity for us,” noted Alan R. Abrams, Servidyne’s Chairman and Chief Executive Officer. “Our new EV Infrastructure solution is designed to meet the rapidly growing needs of our existing customer base, and further expands our suite of long-term energy consumption and controls solutions.”
Commercial electric vehicles are becoming more prevalent as more models are being modified to accommodate the EV technology. Some experts predict that rising fuel prices will accelerate adoption of electric vehicles as part of the truck fleet of businesses involved in large scale service delivery and product distribution. Reduced maintenance costs along with state and federal grants and incentives also can help drive the economic decision to adopt EV technology.
About Servidyne
Established in 1925, Servidyne, Inc. is headquartered in Atlanta, Georgia, and operates globally through its wholly-owned subsidiaries. The Company provides comprehensive energy efficiency and demand response solutions, sustainability programs, and other products and services that significantly enhance the operating and financial performance of existing buildings. Servidyne enables its customers to cut energy consumption and realize immediate cost savings across their portfolios, while reducing greenhouse gas emissions and improving the comfort and satisfaction of their buildings' occupants. The Company serves a broad range of markets in the United States and internationally, including owners and operators of corporate, commercial office, hospitality, gaming, retail, light industrial, distribution, healthcare, government, multi-family and education facilities, as well as energy services companies and public and investor-owned utilities. For more information, please visit www.servidyne.com or call 770-953-0304.
Certain statements contained or incorporated by reference in this press release, including without limitation, statements containing the words “believe,” “anticipate,” “estimate,” “expect,” “plan,” “project,” “forecast,” “should,” and words of similar import, are forward-looking statements within the meaning of the federal securities laws. Forward-looking statements in this release include statements regarding the following matters: the Company’s estimate of the value of the EVSE contract is approximately $1.75 million; the Company’s understanding that it was selected to perform the work based on the Company’s proven engineering and energy monitoring and controls expertise; the Company’s belief that its new EV Infrastructure solution represents an important new service offering for the Company; the Company’s belief that other blue chip companies are currently considering engaging it to provide similar solutions as well; the Company’s belief that it can make a lot of sense for many of its customers to use electric vehicles as part of their fleets; the Company’s belief that its involvement helps to provide both insight and a strategy to its customers as to how additional electric loads will be integrated into the overall electric usage of their customer facilities; the Company’s belief that its energy efficiency expertise helps assure customers that their EV implementation efforts will be deployed in a manner that can yield the highest return on their investment in the new technology; the Company’s belief that its EV Infrastructure solution represents a great new opportunity for the Company and is designed to meet the rapidly growing needs of its existing customer base; the Company’s belief that commercial electric vehicles are becoming more prevalent as more models are being modified to accommodate the EV technology; the predictions by some experts that rising fuel prices will accelerate adoption of electric vehicles as part of the truck fleet of businesses involved in large scale service delivery and product distribution; and the Company’s belief that reduced maintenance costs along with state and federal grants and incentives also can help drive the economic decision to adopt EV technology. Forward-looking statements involve known and unknown risks, uncertainties and other matters which may cause the actual results, performance, or achievements of Servidyne, Inc. to be materially different from any future results, performance, or uncertainties expressed or implied by such forward-looking statements. Factors affecting forward-looking statements in this release include, without limitation, the factors identified under the caption “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended April 30, 2010, as updated from time to time in the Company’s Quarterly Reports on Form 10-Q. Servidyne, Inc. does not undertake to update these forward-looking statements.