American DG Energy lands $2.2M private placement

American DG Energy Inc., a Waltham-based on-site utility provider of electricity, heat, cooling and hot water, has announced an agreement for $2.2 million in private placement

(Private Placement Memorandum – PPM). The funds from the private placement will support additional on-site utility energy systems, as well as general working capital use

(as noted in the Private Placement Memorandum – PPM).

The private placement comprised the sale of just over one million common stock shares at $2.10 per share <!– /* Font Definitions */ @font-face {font-family:”Cambria Math”; panose-1:2 4 5 3 5 4 6 3 2 4; mso-font-charset:1; mso-generic-font-family:roman; mso-font-format:other; mso-font-pitch:variable; mso-font-signature:0 0 0 0 0 0;} @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4; mso-font-charset:0; mso-generic-font-family:swiss; mso-font-pitch:variable; mso-font-signature:-1610611985 1073750139 0 0 159 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-unhide:no; mso-style-qformat:yes; mso-style-parent:””; margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”;} .MsoChpDefault {mso-style-type:export-only; mso-default-props:yes; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:Calibri; mso-fareast-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi;} .MsoPapDefault {mso-style-type:export-only; margin-bottom:10.0pt; line-height:115%;} @page Section1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in; mso-header-margin:.5in; mso-footer-margin:.5in; mso-paper-source:0;} div.Section1 {page:Section1;} –>

( see Private Placement Memorandum – PPM) . Nettlestone Enterprises Ltd., American DG director Charles Maxwell and the John Hatsopoulos 1989 Family Trust participated in the investment.

The company aims to provide lower energy costs through sales of on-site energy generation. American DG Energy was founded by George Hatsopoulos and John Hatsopoulos, co-founders of Thermo Electron Corp., now Thermo Fisher Scientific Inc.

http://www.masshightech.com/stories/2009/04/27/daily8-American-DG-Energy-lands-22M-private-placement.html

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