Environmental Power and Alcor Energy Solutions Announce CHP Based Energy Purchase Agreement for Huckabay Ridge Project
12 8월 2009 - 11:00PM
PR Newswire (US)
TARRYTOWN, N.Y., Aug. 12 /PRNewswire/ -- Environmental Power
Corporation's (NASDAQ:EPG) wholly owned subsidiary, Microgy, Inc.,
a leader in the renewable bio-energy industry, and Alcor Energy
Solutions, an independent energy provider that utilizes combined
heat and power (CHP) technologies, today announced that they have
entered into a long-term energy purchase agreement for electrical
and thermal energy for use at Microgy's Huckabay Ridge facility in
Stephenville, TX. Microgy has entered into a multi-year, fixed
price energy purchase agreement with Alcor for supplying the
Huckabay Ridge facility's electrical power and thermal energy needs
utilizing a CHP process. The on-site CHP system will be capable of
providing all of the Huckabay Ridge facility's electrical and
thermal energy needs with the necessary back-up systems on-site so
as to ensure that power and thermal energy will be reliably
delivered on a continuous basis. The CHP facility is expected to be
in operation during the first quarter of 2010. "As part of our
continuous effort to achieve operational efficiencies and to
increase shareholder returns, this CHP solution allows us to
eliminate parasitic consumption of our more valuable RNG product
utilizing an efficient source of energy," said Rich Kessel,
President and CEO of Environmental Power Corporation. "The net
effect will be an increase in operating margins, as we now
anticipate producing sales of 782,000 MMBtu's per year, an increase
of 147,000 MMBtu's over targeted production. The additional revenue
will be complemented by reduced electrical costs for the facility,
but will be partially offset by increased thermal expenses which
are at a lower cost than the pricing of our RNG product under the
long term PG&E contract. Alcor's solution will allow us to
continue to utilize waste heat or renewable energy for plant
processes, maintaining the energy efficient/renewable aspect of our
Huckabay Ridge facility." "Alcor is especially excited in working
with a 'green' company such as Microgy. Microgy's Renewable Natural
Gas (RNG ) and waste-to-energy model has gained a lot of attention
in the renewable energy market and we are glad to be a part of
these efforts," said Barry Stonehouse, President of Alcor Energy
Solutions. For Microgy, Alcor brings a unique turnkey process for
supplying both power and thermal energy. Alcor's suite of
automation packages, turn-key operation and experience will allow
operation of the CHP process to track increasing or decreasing
facility loads either on-site or remotely. All system operations
and component status can be monitored and managed from anywhere in
the world. The Huckabay Ridge facility is the largest anaerobic
digester operation in the world producing an RNG product for
pipeline sales. Targeted production of 782,000 MMbtu's per year
translates into enough Renewable Natural Gas to heat over 13,500
Midwest homes annually. Using animal waste from local dairy farms,
as well as other organic waste products, the digestion process
produces biogas, which is captured and further refined to pipeline
quality Renewable Natural Gas. Considered "carbon neutral", RNG is
purchased by any number of customers so as to address their various
renewable energy portfolio requirements and assist in their efforts
to reduce carbon emissions. ABOUT ENVIRONMENTAL POWER CORPORATION
Environmental Power Corporation is a developer, owner, and operator
of renewable energy production facilities. Our principal operating
subsidiary, Microgy, Inc., develops and operates proven large
scale, commercial anaerobic digestion based projects which produce
a versatile methane-rich biogas from livestock waste and other
organic sources. For more information visit the Company's web site
at: http://www.environmentalpower.com/ ABOUT ALCOR ENERGY
SOLUTIONS, LLC Alcor Energy Solutions is a producer of high
quality, reliable, fully portable generating units capable of
operating in the most remote areas of the world. Alcor Energy
Solutions incorporates more than 25 years of turbine experience to
build safe, reliable, cost-effective turbine-powered generating
units. We offer a wide range of service options to our customers
such as generator sales, service contracts, leasing and Alcor
Energy Solutions owned and operated facilities.
http://www.alcorenergysolutions.com/ CAUTIONARY STATEMENT The
Private Securities Litigation Reform Act of 1995, referred to as
the PSLRA, provides a "safe harbor" for forward-looking statements.
Certain statements contained in this press release, such as
statements concerning financing, our planned manure-to-energy
systems, our sales pipeline, our backlog, our projected sales and
financial performance, statements containing the words "may,"
"assumes," "forecasts," "positions," "predicts," "strategy,"
"will," "expects," "estimates," "anticipates," "believes,"
"projects," "intends," "plans," "budgets," "potential," "continue,"
"targets" "proposed," and variations thereof, and other statements
contained in this press release regarding matters that are not
historical facts are forward-looking statements as such term is
defined in the PSLRA. Because such statements involve risks and
uncertainties, actual results may differ materially from those
expressed or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but
are not limited to: uncertainties involving development-stage
companies; uncertainties regarding corporate and project financing
and our ability to continue as a going concern, the lack of binding
commitments and/or the need to negotiate and execute definitive
agreements for the construction and financing of projects, the sale
of project output, the supply of substrate and other requirements
and for other matters; financing and cash flow requirements and
uncertainties; inexperience with the development of multi-digester
projects; risks relating to fluctuations in the price of commodity
fuels like natural gas, and our inexperience with managing such
risks; difficulties involved in developing and executing a business
plan; difficulties and uncertainties regarding acquisitions;
technological uncertainties; including those relating to competing
products and technologies; risks relating to managing and
integrating acquired businesses; unpredictable developments;
including plant outages and repair requirements; the difficulty of
estimating construction, development, repair and maintenance costs
and timeframes; the uncertainties involved in estimating insurance
and implied warranty recoveries, if any; the inability to predict
the course or outcome of any negotiations with parties involved
with our projects; uncertainties relating to general economic and
industry conditions, and the amount and rate of growth in expenses;
uncertainties relating to government and regulatory policies and
the legal environment; uncertainties relating to the availability
of tax credits, deductions, rebates and similar incentives;
intellectual property issues; the competitive environment in which
Environmental Power Corporation and its subsidiaries operate and
other factors, including those described in our most recent Annual
Report on Form 10-K or Quarterly Report on Form 10-Q, well as in
other filings we make with the Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date that
they are made. We undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. CONTACT: Company Contact
Micky Thomas, Chief Financial Officer Environmental Power
Corporation (914) 631-1435 Company Contact Barry C. Stonehouse,
President Alcor Energy Solutions, LLC (480) 917-7300 Public
Relations Contact John Abrashkin Ricochet Public Relations (212)
679-3300 x121 DATASOURCE: Environmental Power Corporation CONTACT:
Company Contacts: Micky Thomas, Chief Financial Officer of
Environmental Power Corporation, +1-914-631-1435, ; or Barry C.
Stonehouse, President, Alcor Energy Solutions, LLC,
+1-480-917-7300, ; or Public Relations Contact: John Abrashkin of
Ricochet Public Relations, +1-212-679-3300 x121, Web Site:
http://www.environmentalpower.com/
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