QualityStocks would like to highlight Green Energy Management Services (
OTCBB: GRMS), a full service energy management company dedicated to providing green cost saving energy solutions with virtually no cost to the consumer. The company is committed to designing environmentally friendly energy management programs to combat today's escalating energy and maintenance costs, with proven methods that substantially reduce energy consumption, utilizing a broad spectrum of energy-efficient and environmentally friendly 'green' technologies. As a publicly traded company with responsibility to its shareholders, the company feels it is well positioned to capitalize on the energy management industry.
In the company’s news,
Green Energy Management Services announced another successful installation, as energy efficient lighting goes in at one of the world’s largest cooperative living facilities.
The client is Riverbay Corporation’s massive Co-Op City in the Bronx, which has over 15k residential units. GRMS has taken in some $992k from Barrett Capital Corporation of New York from the sale of interest in future energy savings on the project over the next decade. This is a good deal for GRMS, and the company is already looking to roll the capital infusion over into their energy management business, keen to do even more deals like this one, which saw GRMS install at least 6k energy efficient light bulbs across the numerous Co-Op City parking garages.
Chairman of GRMS, Ron Ulfers, called the deal a huge boon for the company which comes at precisely the right time to kick their energy savings model into high gear and take things to the next level, with a solid installation performance at such a major location as Co-Op City roundly validating their current business model. These products were installed at zero out-of-pocket cost to the facility mind you and we are talking a full 50% drop in electrical consumption for the upgraded infrastructure, a huge savings for Co-Op City.
Managing Agent for Co-Op City, Herbert Freedman, affirmed how good the deal is heartily and called the installation a great success, pleased by the net no-cost installation and savings performance of 50% on lighting the garages, which is a big advantage for such a fixed cost structure business as this giant cooperative living facility. New York State’s aggressive energy conservation program handled funding some of the Co-op City installation as part of NYSERDA’s mandate (New York State Energy Research and Development Authority) and the balance of the cost, already verified by audit, is payable to GRMS from future energy savings (with Barrett Capital having already done the financing on this future revenue stream).
Managing Director over at Barrett Capital Corp., Barry Korn, commented on the financing by saying that extensive due diligence on the part of his firm managed to turn up a deal here with elements like a successful product installation and a credit-worthy paying client that were ideal, with no dilution of the company’s stock as one of the beneficial results. Today’s announcement is a clear signal to markets about the implementation model GRMS has put together, with this example no doubt serving as a reference point for future clients and projects.
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