Green Energy Management Services Holdings, Inc. has signed a ten-year efficient lighting installation and maintenance contract Valued at $2.6 Million with Co-op City, the largest residential development in the United States, located in The Bronx, New York.

The Contract entails replacing and retrofitting over 6,000 lighting fixtures and elements in eight parking structures within Co-op City.

By utilizing power-saving, long-life induction and LED lighting, it estimates to provide Co-op City with approximately $350,000 in annual electricity savings and approximately $2,500,000 in maintenance cost savings over ten years.

As compensation for the Project, and upon the completion of certain contractual milestones, the Company should receive $800,000 in the form of a grant from the American Recovery and Reinvestment Act.
Besides, the contract calls for the Company to receive approximately $1,800,000.00 over the anticipated ten-year balance of the contract.

About Co-Op City
Construction began on Co-Op City in 1968 and was completed in 1973. Its 15,372 residential units, in 35 high rise buildings and seven clusters of townhouses, make it the largest single residential development in the United States. It sits on 320 acres but only 20% of the land was developed, leaving many green spaces.
 
About Green Energy Management Services Holdings, Inc.
Based in the eastern United States, GEM is a full service, national energy management company. GEM provides its clients all forms of energy efficiency solutions mainly based in three functional areas: energy efficient lighting upgrades, renewable energy generation and efficient water utilization. GEM is currently primarily involved in the distribution of energy efficient LED units to end users who utilize substantial quantities of electricity. GEM structures its contracts with no upfront or maintenance costs to its customers and shares in the achieved energy and maintenance savings.