Ameresco Announces Landmark Renewable Energy Project with BMW Manufacturing Corp. and Waste Management

Business Wire, July 1, 2002

Business Editors

Ameresco, Inc. today announced a collaborative project between itself, BMW Manufacturing Corp. and Waste Management, Inc. that will deliver renewable energy to BMW's manufacturing facility in Spartanburg, S.C.

"The partners in this effort have worked diligently together for over one year to design a truly `Best-in-Class' project using state-of-the-art technology that will ultimately reduce the amount of fossil fuel combusted at the 2.5 million square foot facility and replace it with a stable supply of renewable energy," said Michael Bakas, Ameresco's Vice President of Renewable Energy. This project will include a 9.5 mile pipeline.

Ameresco will design, build, and own the pipeline, gas processing and gas compression facilities, which will connect the Palmetto Landfill via a 9.5 mile pipeline to BMW's manufacturing facility. Once completed, Ameresco will manage the overall operations of the project.

Waste Management, which owns and operates the Palmetto Landfill, has been developing landfill gas-to-energy projects for more than 15 years and currently supplies landfill gas to 69 gas-to-energy projects in 21 states. "The project with BMW and Ameresco is just another example of a beneficial use project that is helping to chart the course for the future, by taking readily available, renewable energy and making it part of a company's energy plan," said Maury Myers, Chairman, President and CEO of Waste Management.

Once delivered to BMW, the gas will be used to fuel up to four gas turbines that will cogenerate electricity and hot water for the facility. All told, the landfill gas will fulfill approximately 20 percent of BMW's energy requirements.

"Cogeneration is used at many of BMW's worldwide facilities. We take great pride in being able to add a 'Green Power' component by using this renewable energy source," said Robert Hitt, Manager for Media and Public Affairs. "We take pride in being a good environmental partner with the community by simultaneously improving energy utilization and regional air quality." BMW is a charter member of the EPA's National Environmental Achievement Track that recognizes companies for their environmental stewardship and performance.

Construction on the multi-million dollar landfill gas-to-energy project is set to begin in July 2002, with a target completion date near the end of the year. Once complete this project will be one of the largest, direct use projects of its type in North America.

Corporations today view the development of renewable energy as essential to address their environmental and energy issues. Fossil Fuels are the single largest source of conventional air pollutants. Today there are a wide array of financially viable and environmentally preferable energy technologies, with more under development.

"In today's energy market, companies are looking for cost effective and environmentally responsible energy alternatives," said George Sakellaris, Ameresco's President and CEO. "Landfill gas-to-energy projects offer a significant opportunity for businesses to mitigate energy risks while being an environmental steward to local communities."

Headquartered in Framingham, Massachusetts, Ameresco is an independent energy solutions company that delivers long-term customer value through innovative systems, strategies and technology. Green power and renewable energy strategies represents a core business offering that provides its clients secure, clean energy alternatives. After its recent acquisition of Duke Solutions, Ameresco operates and maintains a significant presence throughout North America.

About Ameresco: Ameresco offers comprehensive energy supply and demand-side solutions for end users of landfill gas. On the supply-side, Ameresco provides a wide range of services to landfills including project design, financing, construction, and management of the landfill gas system and energy plant. On the demand-side, Ameresco works with its customers to reduce operating expenses, upgrade and maintain their facilities, improve occupancy comfort levels, increase energy reliability and enhance the environment. Ameresco works with customers to appropriately match their energy needs with renewable energy sources such as landfill gas, while concurrently assisting customers to reduce their internal energy consumption. Ameresco is committed to developing renewable and sustainable energy generation worldwide.