New Jersey office of Clean Energy awards Astor Chocolate Corporation/BPE Financial Grant under Combined Heat & Power Project
El Dorado Hills, Calif., October 25, 2004 - Chapeau, Inc. dba BluePoint Energy announced
today that Astor Chocolate Corporation/BluePoint Energy have received a financial incentive commitment from the New Jersey Office of Clean Energy (NJOCE) in connection with NJOCE's Combined Heat and Power (CHP) Program. On July 27, 2004 the New Jersey Board of Public Utilities approved the initial funding level of $5 million for the NJOCE's Combined Heat and Power Program. The commitment for Astor Chocolate/BluePoint Energy is in effect until October 2005 provided that Astor Chocolate/BluePoint Energy meet the requirements specified under the program.
BluePoint CEO, Guy A. Archbold, commented, “We at BluePoint are exceptionally pleased to have been recognized by the NJOCE for financial incentive commitment in conjunction with Astor Chocolate Corporation's application under the recently adopted and approved NJOCE Combined Heat and Power Program. We are particularly pleased to have been advised that of the over 70 applications submitted under this program, the Astor Chocolate/BluePoint Energy application was ranked third overall. We expect contracts for construction and equipment procurement to be completed imminently.
Archbold continued, “The NJOCE CHP Program provides financial incentives for CHP installations to enhance energy efficiency through on-site power generation with recovery and productive use of waste heat, while reducing existing and new demands to the electric power grid. The program will meet the objective of the NJOCE Program to use energy efficiency, and clean distributed generation to provide reliability solutions for New Jersey . The program's goals are to increase energy efficiency, reduce overall system peak demand, and to encourage the use of emerging technologies.
“This program offers qualifying customers, contractors, and energy service companies incentives to purchase and install various types of CHP units. We are highly honored to be recognized in the furtherance of these efforts by the New Jersey Office of Clean Energy, once again endorsing the BluePoint Energy Ultra Lean-Ultra Clean™ emission and environmental strategy.
About New Jersey Office of Clean Energy
The New Jersey Office of Clean Energy (NJOCE) is an office of the New Jersey Board of Public Utilities (NJBPU), a regulatory authority with a statutory mandate to ensure safe, adequate, and proper utility services at reasonable rates for customers in New Jersey. NJOCE has oversight responsibility for The New Jersey Clean Energy Program, a signature initiative of NJBPU, which provides education, information and financial incentives for renewable energy systems and energy efficiency measures. The New Jersey Clean Energy Program is a statewide program that targets approximately $125 million each year toward technologies that save electricity and natural gas and increase the amount of electricity generated from clean, renewable resources, with the objective of transforming the energy marketplace in New Jersey for energy efficiency and renewable energy technologies in a deregulated environment.
About Astor Chocolate Corporation
Established in 1950 in New York on the founding principles of dedication and customer service, Astor Chocolate Corporation is a family-owned business that creates premium chocolate products using superior quality ingredients. For more information, visit www.astorchocolate.com.
About Chapeau, Inc. dba BluePoint Energy
Chapeau, Inc. dba BluePoint Energy designs, assembles and sells packaged Combined Heat and Power generation systems under the trademark Lean-One® to utilities, energy service companies and commercial end users in need of reliable, efficient, clean and cost-effective energy solutions. The Company trades publicly on the Over-the-Counter Bulletin Board under the ticker symbol CPEU. For more information, call 916-941-6319 or visit www.bluepointenergy.com.
NOTE: The foregoing is news relating to Chapeau, Inc. dba BluePoint Energy (the "Company") and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words "anticipate," "believe," "estimate," "expect" and similar expressions as they relate to the Company or its management, including without limitation, Chapeau, Inc. dba BluePoint Energy (as defined herein) and/or the Company's other subsidiaries, are intended to identify such forward-looking statements. The Company's actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For a discussion of additional factors that may affect actual results, investors or interested parties should refer to the Company's filings with the Securities and Exchange Commission; in particular, its annual report on Form 10-K, most current 10Q and other filings as may be relevant. This does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.
Contact:
Chapeau, Inc. dba BluePoint Energy
Guy A. Archbold, CEO, 916.941.6319