February 4, 2005—USA Technologies has entered into an agreement to sell its VendingMiser and CoolerMiser energy management solutions exclusively in Italy through a major Italian consulting integration company, THS International S.r.l . Based in Milan, Italy, THS International also has major business operations established throughout Europe, the Middle East, and South Africa. THS International will start distributing the products in Milan and Rome, and then will expand throughout Italy and the rest of Europe.
The average cost of electric power in Italy is reportedly twice the average price paid in the US, and the demand for power in Italy has been increasing, forcing regular and routine power shutdowns, or “brownouts.” THS International believes the energy savings to the end-user from the VendingMiser and CoolerMiser will result in a payback period of 9 months or less, depending on the conditions.
The VendingMiser and CoolerMiser have the capability to reduce energy consumption in vending machines and coolers by nearly half. THS International believes that if it meets its commitments during the three-year period, it will lower energy consumption in the approximately two million refrigerated vending machines and four million glass front coolers in Italy by as much as 140 million kilowatt hours per year, and save consumers more than $20 million Euros in energy costs.
