The massive amounts of energy it takes heat and cool a large office building in Toronto will be greatly decreased once an innovative system of deep-water cooling is installed to regulate ambient air temperatures with water from the nearby lake Ontario.Toronto, Canada – March 3, 2003 [SolarAccess.com] Oxford Properties Group and Enwave District Energy Limited have secured a long-term agreement to provide environmentally friendly air conditioning to One University Avenue. Under the terms of the agreement, Enwave will connect One University Avenue to its cooling system in spring 2003. The Enwave Deep Lake Water Cooling system, the largest of its type in the world, draws very cold water from deep in Lake Ontario to provide naturally chilled water to cool buildings during the summer season rather than using “in-house” electricity-driven refrigeration. With 60,000-tons of cooling capacity, this CAD$175 million (US$118 million) system will provide natural air conditioning for more than 20 million square feet of building space, while reducing local coal-fired electricity production by more than 35 million kWh each year. Emissions in the form of greenhouse gases, pollution, and airborne particulate will be reduced by over 40,000 tons – equivalent to removing 8,000 cars from the road (a continuous line of traffic from Toronto to Barrie, Ontario.) As an additional benefit, Toronto will see improved drinking water quality without cost to the City or to taxpayers. Construction of this landmark project started down at Toronto’s waterfront in June 2002. “Oxford is proud to lead our industry towards the use of Renewable Energy sources in office towers,” said Stuart Smith, President and CEO of Oxford Properties Group. “However the decision to adopt Enwave technology was also good business for our customer-tenants. With the assistance of independent analysis we concluded that Enwave’s solution is an excellent fit for this particular building. This energy supply will add value to the property in the long term. Our decision at this property will also contribute towards the Kyoto targets for emission reduction, as well as eliminating the use of CFC’s, avoiding significant capital outlay for equipment, and freeing up operational resources to focus on serving our customers”.