USA Technologies VendingMiser® and SnackMiser™ Devices Installed at Several Ford Motor Company Facilities
MALVERN, Pa, December 7, 2005-- USA Technologies (OTCBB: USTT) announced today that Ford Motor Company, headquartered in Dearborn, MI, will use its VendingMiser and SnackMiser energy management technology to help reduce energy consumption and costs.
Ford is equipping vending machines located at its corporate headquarters as well as the Ford Motor Credit building with USA Technologies' Miser line of products.
VendingMiser products support the Federal Government's initiative to conserve energy and save the equivalent to ENERGY STAR® machines. A VendingMiser can reduce energy consumption in vending machines by almost half, a saving estimated at $150 annually per machine.
"We commend companies like Ford Motor Company who are taking steps to conserve energy and preserve the environment," said Stephen P. Herbert, President and COO, USA Technologies. "USA Technologies' energy management technology can immediately reduce energy consumption by vending machines and a variety of commercial machinery and equipment, and pay for themselves in a matter of months," he said.
USA Technologies reported that a growing number of major corporations were purchasing its Miser energy management products, including a major global retailer in the Fortune top 50 earlier this year.
"We are pleased that our product line is helping lower demand on the national power grid, but it's only a beginning. There are eight million vending machines in the U.S. alone, and we have barely scratched the surface. Imagine the savings in energy consumption and cost if those eight million vending machines were made more energy efficient. Ford is taking a lead in energy conservation, and naturally we are delighted they are using our products," Mr. Herbert said.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product acceptance, the ability to continually obtained increased orders of its products, the ability to meet installation goals, economic, competitive, governmental impacts, whether its pending patents will be granted or defendable; validity of intellectual property and patents of USA, the ability of USA to license its patents, the ability of USA to commercialize its developmental products, technological and/or other factors, which could cause actual results or revenues to differ materially from those contemplated by these statements.
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