New cost-saving battery energy storage system at Trent will improve energy infrastructure and benefit provincial energy grid

Ameresco, Inc., (NYSE: AMRC), a leading clean technology integrator specializing in energy efficiency and renewable energy, today announced a partnership with Trent University, a leading environmental institution, to install various energy efficiency upgrades, including an on-campus Battery Energy Storage System (BESS), that aim to further reduce the University’s carbon footprint, while supporting the provincial energy grid.

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Trent University partners with cleantech integrator, Ameresco, on new cost-saving battery energy storage system that will improve energy infrastructure and benefit provincial energy grid. (Photo: Business Wire)

“This project is an exciting next step in Trent’s ongoing commitment to environmental and sustainable initiatives on campus,” says Tariq Al-Idrissi, acting Vice President of Finance and Administration at Trent University. “Our renewed Energy Performance Contract with Ameresco builds on previous energy saving projects such as converting the campus lighting to LEDs, implementing smart ventilation systems and using solar energy to power the new zero-carbon Forensics Crime Scene Facility, the first of its kind in Canada.”

The BESS will store energy overnight, when the provincial grid is producing the lowest cost and lowest carbon energy and use it to power the campus at strategic times when the Ontario system operators typically turn to gas-fired generation to meet atypical high demand for electricity. Taking this action on campus contributes to Ontario’s Industrial Conservation Initiative and will result in an expected reduction in Global Adjustment fees of over $1 million annually. These savings will fund the BESS installation as well as extensive upgrades to Trent’s electrical infrastructure.

“One of the amazing things about working with customers on projects like these is finding energy-saving solutions that work for them and generate significant cost savings in the long run,” said Bob McCullough, President, Ameresco Canada. “By taking a collaborative approach right from the start, we can work together to develop solutions that prioritize sustainability and durability.”

The Energy Performance Contract amendment between the University and Ameresco was recently approved by Trent’s Board of Governors, with construction scheduled to commence later in the fall. Proposed upgrades include the installation of a 2.5MW/5 MWh BESS, the replacement of aging switchgear components and the implementation of a carport canopy photo-voltaic (PV) and electric vehicle (EV) charging station. The PV and EV charging station will complement the newly installed BESS and reduce the University’s greenhouse gas emissions.

About Trent University

One of Canada's top universities, Trent University was founded on the ideal of interactive learning that's personal, purposeful and transformative. Consistently recognized nationally for leadership in teaching, research and student satisfaction, Trent attracts excellent students from across the country and around the world. Here, undergraduate and graduate students connect and collaborate with faculty, staff and their peers through diverse communities that span residential colleges, classrooms, disciplines, hands-on research, co-curricular and community-based activities. Across all disciplines, Trent brings critical, integrative thinking to life every day. Today, Trent's unique approach to personal development through supportive, collaborative community engagement is in more demand than ever. Students lead the way by co-creating experiences rooted in dialogue, diverse perspectives and collaboration. In a learning environment that builds life-long passion for inclusion, leadership and social change, Trent's students, alumni, faculty and staff are engaged global citizens who are catalysts in developing sustainable solutions to complex issues. Trent's Peterborough campus boasts award-winning architecture in a breathtaking natural setting on the banks of the Otonabee River, just 90 minutes from downtown Toronto, while Trent University Durham Greater Toronto Area, delivers a distinct mix of programming in the east GTA.

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and the United Kingdom. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

The announcement of a project contract is not necessarily indicative of the timing or amount of revenue from such contract, of the company’s overall revenue for any particular period or of trends in the company’s overall total project backlog. This project was included in our previously reported awarded backlog as of June 30, 2021.

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