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Servidyne, Inc. (SERV) Signs Record $8.7M Energy Efficiency Contract

Servidyne, Inc., the 85-year veteran in facility energy use optimization, sustainability, and improvement of overall building efficiency, announced an $8.7M contract (estimated total revenue upon completion) with a major U.S. retailer yesterday.

The contract calls for SERV to systematically overhaul the energy-use profile of some 600 stores and distribution centers beginning immediately, with a projected completion window of 12-24 months.

This contract signifies the start of a strategic partnership between the two companies, which both anticipate will continue for 2-3 years (pending future negotiations) as the customer has expressed a desire to apply the efficiency overhaul program to its entire gamut of locations, as well as to any new locations.

President and CEO of SERV’s Building Performance Efficiency (BPE) segment explained that this program was developed by working closely with the customer on several preliminary installations and pilot demonstration projects during the last 18 months, and he projected a 40% or greater ROI for the customer’s shareholders as a result of the improvements.

Said improvements include a complete retrofit of existing lighting aimed at upgrading energy efficiency and sustainability of the lighting system as a whole, in addition to the installation of new control systems to automate the heating and cooling equipment.

This new control apparatus will provide real-time situational awareness to the customer via a comprehensive information dashboard that delivers copious details about operating conditions and energy use. SERV will also track and quantify the environmental benefits produced.

The Company will also see to it that any particular financial incentives available through the electric utilities which service any one of the 600 locations are taken advantage of, while ensuring compliance with demand response programs offered by the utilities, where possible, in order to generate additional reductions in the customer’s overhead.

President, Chairman and CEO of SERV, Alan R. Abrams, noted the Company’s ongoing work with other major manufacturing and retail clients along similar lines, and suggested a strong possibility that these efforts would also mature into similar “large scale implementation programs in the future”.

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