DAMG & ACE Announce 5 Garage Deal
DAMG Lighting Contracts with Ace Parking to Improve Energy Efficiency in Its Western Operations
December 9, 2014 WESTPORT – DAMG Lighting, LLC (DAL) has contracted with Ace Parking (Ace), one of the country’s largest parking companies to install energy-efficient lighting in premiere West Coast locations. The DAL-Ace relationship will begin with the Hilton Bayfront Garage in San Diego CA, a facility owned by the Port of San Diego and managed by Ace. The property houses 1,300 spaces and requires 544 new light fixtures and 1,088 new light-emitting diode (LED) bulbs.
Under the terms of its innovative Custom Lighting Solutions Program, DAL will replace and maintain, at no cost to Ace, the existing metal-halide lighting systems at the Hilton Bayfront Garage with a more environmentally sound LED system. DAL will be compensated solely as a function of the realized energy savings and will maintain the system for the length of the contract.
“This contract is a game-changer for DAL, given Ace’s national prominence, leadership reputation, and its need for efficient, economical lighting in more than 200 garages throughout the nation,” said Joseph A. Piscitell, DAL’s chief executive officer. “The deal provides us with a tremendous opportunity to prove in a few locations the cost and environmental benefits of our custom solutions to any organization with large-scale, continuous lighting demands.”
The LED systems DAL employs increase bulb life by approximately 150 percent – from 40,000 hours typically achieved with metal-halide units to 100,000 hours. In contrast to conventional light sources, LEDs generate very little heat, a key reason behind their improved bulb longevity and lower power draw. LEDs are also quieter and provide a more uniform look compared to metal-halide bulbs that hum and exhibit changes in color and brightness as they age.
“Ace reviewed numerous proposals to help cut our energy expenses and improve the quality of our lighting in several key properties,” said Steve Burton, President of Ace. “DAL’s solution addresses both our customer and capital needs while ensuring a greener approach to 24/7 energy consumption in our garages.”
About DAMG Lighting: DAMG Lighting, LLC (DAL) is the result of a joint venture between DAMG Worldwide LLC, Matterhorn Capital Ltd. And Future Energy Solutions (FES). The venture’s mission is to market energy efficient lighting products to airports, universities and other industrial companies that maintain facilities such as parking structures that require lighting 12 – 24 hours a day. The Project Lumina program is innovative as it provides management with a custom lighting solution ("CLS") to reduce electricity bills, remove maintenance costs and enhance the working environment without capital risk. For more information please visit www.dallighting.com
About DAMG: DAMG has been in the infrastructure finance and development business for almost 20 years. It has been a thought leader in privatization and creative financing solutions for the transportation industry, including owning, financing and operating MRO, FBO cargo and airport facilities. With offices in Westport, CT, Los Angeles, CA and London, UK, DAMG has the global reach to provide capital and creative financing solutions throughout the Americas and Western Europe. For more information please visit www.damgworldwide.com.
About ACE Parking: For over 60 years, Ace Parking’s priorities have been to exceed the financial objectives set forth by clients and to deliver the highest possible level of service. Starting in 1950 with one parking lot, Ace Parking has steadily grown to manage 450 parking applications across the United States, employing more than 4,500 people. For more information please visit www.aceparking.com.