Nov 10 2010
Green Energy Management Services Holdings (GEM) has entered into a 10-year agreement with Co-op City for efficient lighting maintenance and installation. GEM is a national energy management company based in the eastern U.S., while Co-op City is the largest residential development in the US.
Under the terms of the contract, Co-op City will have its eight parking structures retrofitted with more than 6,000 lighting fixtures and units. By using energy-efficient and durable LED lighting, Co-op City will have maintenance cost savings of about $2,500,000 in 10 years and annual electricity savings of about $350,000.
GEM’s Chief Executive Officer and Chairman, Michael Samuel stated that the company is pleased to collaborate with Co-op City. The company has other solutions in the green technology product line to aid Co-op City to accomplish high efficiencies.
Herbert Freedman from Co-op City remarked that GEM would provide the company with green technology solution for the infrastructure upgrade and will help in reducing energy costs. Freedman continued that they would not worry about the lighting maintenance over the next 10 years.