July 13, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — American DG Energy, Inc. (AMEX: ADGE), a provider of distributed power services, said that it has entered into a definitive agreement to sell restricted common stock for aggregate proceeds of $1 million. Under the agreement the company sold to an accredited investor 400,000 shares of restricted common stock at $2.50 per share at an aggregate purchase price of $1 million.

American DG also granted the investor a two-year warrant to purchase 400,000 shares of common stock of EuroSite Power, Inc., the company's newly formed subsidiary to address the European market, at $1 per share.

The company said it will sue the proceeds of the private placement to fund additional installations of the company's OnSite Utility energy systems and for general corporate and working capital purposes. The proceeds of the warrants, if exercised, will be used to fund EuroSite Power's market expansion.

Massachusetts-based American DG Energy supplies energy to its customers through distributed power generating systems. The company serves institutional, commercial and small industrial facilities with power, cooling, heat and hot water as an alternative to local utilities.

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