PURCHASE, N.Y. - The New York State Energy Research and Development Authority (NYSERDA) presented Morgan Stanley with a ceremonial incentive check in the amount of $300,000 recognizing the company for installing the New York Metropolitan area's largest ice storage based air conditioning system, which delivers dramatic energy savings.

Morgan Stanley took the initiative to form a partnership with NYSERDA, Trane, and Calmac Manufacturing Corp. to foster an innovative solution that tackled the company's energy needs. The use of an ice storage system was developed.

"NYSERDA offers financial and technical assistance initiatives to help with identifying and installing projects that address the energy efficiency needs of our partners in a way that improves the environment and lessens our dependence on foreign oil," said Peter Smith, president and CEO of NYSERDA.

"Aging equipment and the need for additional cooling capacity and site resiliency motivated us to investigate environmentally responsible solutions," said James McAleer, vice president of facilities for Morgan Stanley. In addition to being recognized by NYSERDA and Westchester County, the Purchase site will be a beta for similar projects at Morgan Stanley facilities around the globe.

Publication date: 07/24/2006