IRVINE, Calif., Nov. 19, 2014 /PRNewswire/ -- Ener-Core,
Inc. (OTCQB: ENCR), designer and manufacturer of proprietary
Gradual Oxidizers, announced it has entered into a global licensing
agreement with the Dresser-Rand Company to develop and market the
Dresser-Rand KG2-3GEF two-megawatt gas turbine coupled with the
Ener-Core oxidizer. Dresser-Rand is among the world's largest
suppliers of rotating equipment to the oil, gas petrochemical and
process industries.
"The adoption of the Ener-Core oxidizer technology by
Dresser-Rand is an important step in capturing the $65 billion waste gas to power opportunity," said
Alain Castro, CEO of Ener-Core.
"This commercial license is a great opportunity for Ener-Core to
successfully scale up its power generation technology to the 2 MW
power capacity. Furthermore, Dresser-Rand's existing global
footprint of commercial and engineering teams, as well as their
strong brand, will enable an accelerated deployment of Ener-Core's
solution across multiple industry applications. Most
industries that currently flare their waste gases will soon be able
to use these waste gases productively, while also significantly
reducing their emissions of waste gases into the atmosphere. This
is great news for our world's air quality, and great news for the
financial bottom-lines of the industries that currently emit these
greenhouse gases into the atmosphere."
Dan Levin, Dresser-Rand Vice
President, Environmental Solutions, added, "The Ener-Core oxidizer
is a breakthrough technology that greatly expands the value
proposition of the KG2-3G gas turbine. The combination of reducing
harmful exhaust emissions and generating clean energy from waste
gases is a truly significant opportunity for many industrial
companies. While most companies are focused on waste gas
capture and destruction, Ener-Core's unique Gradual Oxidation
technology, combined with Dresser Rand gas turbines, will enable
industrial clients across a wide range of industries to utilize
their industrial waste gases to generate clean energy."
While specific details of the deal have not been released, the
license agreement grants Dresser-Rand exclusive rights to
commercialize the Ener-Core 1-4MW MW Gradual Oxidizer bundled with
the Dresser-Rand KG2 gas-turbine product line. The bundled
solution, now being commercialized by Dresser-Rand, will provide
both companies with a unique and significant commercial advantage
to address the burgeoning market of methane emissions compliance.
As part of the agreement, Dresser-Rand will pay a $1.6 million initial license fee, and
subsequently agrees to achieve annual sales thresholds agreed to by
both companies in order to retain the commercial
license.
The two companies will partner to market and sell the combined
product to a variety of potential industrial customers including,
coal mines, oil & gas refineries, oil & gas drilling sites,
distilleries, food processing plants and landfills.
While most companies will absorb additional costs related to
complying with expected methane regulations, the new solution
deployed by Dresser-Rand and Ener-Core will enable customers to
instead generate revenue by selling the energy that they produce,
or use the additional energy that they produce from their own waste
gases to significantly reduce their energy purchases. With its 250
kilowatt power stations already operating in Europe and the
United States, Ener-Core's Gradual Oxidation technology
provides for base-load power and energy security while other
renewable energy systems are dependent on intermittent sources of
power generation. Executives with Ener-Core estimate
that the amount of waste gases that are polluted annually into the
atmosphere in the form of wasted methane could be used to generate
up to 65,000 MW of clean energy – the equivalent of powering 65-80
million homes. Were that gas to be turned into fuel for
an Ener-Core / Dresser-Rand generator, it would in effect, offset
the green house gas pollution of 254 million vehicles registered in
the US in 2012.
About Ener-Core, Inc.
Ener-Core designs and
manufactures innovative systems for producing continuous energy
from a broad range of sources, including previously unusable
ultra-low quality gas. The Ener-Core Gradual Oxidizer, our
patented oxidation technology, enables the conversion of these
gases into useful heat and power with the lowest known associated
emissions. With the Ener-Core Gradual Oxidizer matched to gas
turbines, Ener-Core offers systems with fuel flexibility and
pollution control for power generation. The Gradual Oxidizer can
also be customized for integration with larger existing power
generation systems to offer unparalleled pollution control and
achieve zero emissions. Ener-Core has developed the 250kW Ener-Core
power station FP250 ("FP250"), and its larger counterpart, the 2MW
Ener-Core power station KG2-3G/GO, to transform methane gas,
especially "ultra-low-Btu gas" from landfills, coal mines, oil
fields and other low quality methane sources into continuous clean
electricity with near-zero emissions. The power stations are
specifically engineered for fuel flexibility and modularity, so
that these low-Btu gas sources can be used as an energy resource
instead of wasted through venting and/or flaring.
With dedication, deep expertise, and broad energy experience,
Ener-Core seeks to serve several markets globally, including oil
fields, biogas, coalmines, natural gas, emissions control, and
utility power generation. For more information, please visit
the Ener-Core website: www.Ener-Core.com.
About Dresser-Rand
Dresser-Rand is among the largest suppliers of rotating
equipment solutions worldwide. The company offers some of the most
efficient and, environmentally friendly technology platforms,
products and services in distributed power generation for oil and
gas, industrial, institutional, and commercial clients and rural
electrification programs. The Company operates manufacturing
facilities in the United States,
France, United Kingdom, Spain, Germany, Norway, Brazil and India and maintains a network of 49 service
and support centers (including 6 engineering and R&D centers)
covering more than 150 countries. Dresser-Rand has principal
offices in Paris, France, and
Houston, Texas.
Cautionary Statement Regarding Forward-Looking
Statements
Forward-looking statements contained in this press release are
made under the Safe Harbor Provision of the Private Securities
Litigation Reform Act of 1995. Information provided by Ener-Core,
Inc., such as online or printed documents, publications or
information available via its website may contain forward-looking
statements that involve risks, uncertainties, assumptions, and
other factors, which, if they do not materialize or prove correct,
could cause its results to differ materially from historical
results, or those expressed or implied by such forward-looking
statements. All statements, other than statements of historical
fact, are statements that could be deemed forward-looking
statements, including statements containing the words "planned,"
"expects," "believes," "strategy," "opportunity," "anticipates,"
and similar words. These statements may include, among others,
plans, strategies, and objectives of management for future
operations; any statements regarding proposed new products,
services, or developments; any statements regarding future economic
conditions or performance; statements of belief; and any statements
of assumptions underlying any of the foregoing. The information
contained in this release is as of June 24, 2014. Except as
otherwise expressly referenced herein, Ener-Core assumes no
obligation to update forward-looking statements.
SOURCE Ener-Core, Inc.
