NORESCO Guaranteed Energy Savings Agreement With Elkhart County, Indiana to Save $1.5 Million Over 10 Years

WESTBOROUGH, Mass., April 26, 2011 /PRNewswire/ — NORESCO, a national leader in
energy efficiency and energy infrastructure solutions, is partnering with
Elkhart County, Ind., to implement a $1.3 million guaranteed energy savings
contract. NORESCO has projected annual utility savings at more than $80,000 with
a total savings guarantee of more than $1.5 million over a ten-year agreement.
Facilities slated for energy efficiency improvements are the Administration
Building, the Courts/Annex Building, the Public Service Building and Work
Release. NORESCO is a subsidiary of Carrier Corp, which is a unit of United
Technologies Corp. (NYSE: UTX).

Elkhart County was able to secure American Recovery and Reinvestment Act of 2009
funds from the U.S. Department of Energy to cover nearly 50 percent of the
project costs. The county will finance the remainder. It is anticipated that
county dollars will be easily recouped over the life of the new energy-efficient
equipment with utility savings from reduced energy consumption.

Kris Krueger, grants administrator, Elkhart County, stated, “Elkhart County is
excited about this project. The best part is the project providing employment
opportunities to local contractors while the county improves its energy
efficiency, which will go a long way toward protecting our environment and the
health of our community.”

NORESCO and the county will employ local contractors to implement strategic
energy conservation and building improvement measures. Critical components of
the project include new direct digital controls energy management systems,
lighting upgrades and mechanical improvements.

“This project is a unique opportunity to deploy Indiana manufacturing expertise
in a guaranteed energy savings contract, but use of local talent is a common
part of NORESCO projects. It’s simply good business and good citizenship,”
stated David Corner, senior account executive, NORESCO. “The State of Indiana
provides the guaranteed energy savings tool, and the residents of Elkhart County
benefit.”

The project is calculated to reduce the county government’s annual energy usage
by 897,989 kWh of electricity and 10,229 therms of natural gas. Emissions of
carbon dioxide associated with county buildings are expected to drop by
approximately 750 metric tons, roughly equivalent to the annual emissions of 147
cars.

About NORESCO

As one of the largest U.S. energy services companies, NORESCO specializes in the
development, design, construction, financing and operation of energy and
environmental efficiency projects, performance contracting and central energy
plants. In addition to county governments, NORESCO clients include federal and
state government agencies, universities, school districts, hospitals, industrial
and commercial businesses. NORESCO has implemented more than $2.5 billion in
energy savings at more than 2,000 sites throughout the U.S. and abroad. NORESCO
is a subsidiary of Carrier Corp.

About Carrier Corp.

Carrier Corp. is the world’s leader in high technology heating, air-conditioning
and refrigeration solutions. Carrier experts provide sustainable solutions,
integrating energy efficient products, building controls, and energy services
for residential, commercial, retail, transport and foodservice customers.
Founded by the inventor of modern air conditioning, Carrier improves the world
around us through engineered innovation and environmental stewardship. Carrier
is a unit of United Technologies Corp., a leading provider to the aerospace and
building systems industries worldwide.

SOURCE NORESCO