Ener-Core Provides Update on Commercial Progress with Dresser-Rand and Pacific Ethanol
31 3월 2015 - 8:30PM
Business Wire
Notification Letter from Dresser-Rand Affirms
Its Intent to Purchase Ener-Core’s Power Oxidizers for Pacific
Ethanol Project
Ener-Core, Inc. (OTCQB:ENCR), the world’s only provider of Power
Oxidation technology and equipment that generates clean power from
low-quality and waste gases from a wide variety of industries,
released an update on its pending sale to Dresser-Rand of two
Ener-Core Power Oxidizers that will be coupled with the
Dresser-Rand KG2-3GEF two-megawatt gas turbine generators for
Pacific Ethanol’s Stockton, CA plant.
On March 17, 2015, Ener-Core received a non-binding notification
letter from Dresser-Rand noting Dresser-Rand’s intent to issue a
formal purchase order for $2.1 million pursuant to the Supply
Agreement terms of the Commercial License Agreement (CLA) that it
signed with Ener-Core in November 2014. The letter characterizes
the agreement with Pacific Ethanol as “a huge milestone and a great
opportunity to demonstrate the importance of the Ener-Core power
oxidizer,” and states that the Dresser-Rand project team has
already engaged and is working with the Ener-Core team.
The Letter of Intent also notes that the formal purchase order
to Ener-Core is contingent upon a successful SSAT (Sub Scale
Acceptance Test) as defined in the CLA and scheduled to be
conducted in June 2015, after which time Dresser-Rand has agreed to
issue the purchase order.
Pacific Ethanol announced its agreement with Dresser-Rand in
January 2015, to install a cogeneration system including two of
Ener-Core’s Power Oxidizers to convert waste gas from ethanol
production into electricity and steam. This agreement followed
Ener-Core’s November 2014 entrance into a global licensing
agreement with Dresser-Rand to develop and market the Dresser-Rand
KG2-3GEF gas turbine coupled with the Ener-Core oxidizer.
Alain Castro, Ener-Core’s CEO, commented, “The
Dresser-Rand/Pacific Ethanol project is significant for Ener-Core
on several levels. Firstly, Dresser-Rand was able to secure this
project with Pacific Ethanol within two months after closing a
Commercial License Agreement with Ener-Core, which demonstrates
that Ener-Core’s strategy of partnering with leading multinational
power equipment companies is already working. Secondly, it’s an
opportunity for Ener-Core to scale its Power Oxidizer up from 250
kilowatts to 1.75 megawatts, representing a 7x increase in power
capacity. And perhaps most importantly, this is an opportunity for
us to work closely with Pacific Ethanol, to show the world that it
is now possible for industrial process plants (from a variety of
industries) to reduce their operating costs by converting their
waste gases directly into useful clean power, while at the same
time reducing their carbon footprint in a meaningful manner. The
entire Ener-Core team is now working hard to deploy this project
throughout the course of this year.”
Mr. Castro concluded, “We look forward to the upcoming SSAT and
are fully confident that upon its successful completion we will
receive the purchase order from Dresser-Rand. This is a very
exciting time for our company.”
About Ener-Core
Irvine, California-based Ener-Core, Inc. designs and
manufactures innovative systems that generate base load, clean
power from a broad range of waste gases including methane.
Ener-Core’s patented Power Oxidizer is the only solution of its
kind that turns one of the world’s most potent sources of pollution
into a profitable source of clean energy that can be used on site
or sold to the grid. Ener-Core’s technology offers a revolutionary
alternative to the flaring of gaseous pollution while generating
operating efficiencies and ensuring compliance with costly
environmental regulations. Ener-Core works with industries that
flare or vent methane gas, especially "ultra-low-Btu gas.”
Ener-Core offers a variety of platforms including the 250kW
Ener-Core Powerstation EC250 ("EC250"), and its larger counterpart,
the 2MW Ener-Core Powerstation KG2-3GEF/GO.
For Ener-CoreMahoney Communications GroupColin Mahoney,
617-970-4418colin@mahoneycommunications.comorDian Griesel
Int'l.Cheryl Schneider, 212-825-3210cschneider@dgicomm.comorEnrique
Briz, 212-825-3210ebriz@dgicomm.com
Ener Core (CE) (USOTC:ENCR)
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