EECT signs Letter of Intent with SABIC for study of Ener-Core Powerstation
Unveiling of first operational Ener-Core powerstation pivotal to commercial momentum
IRVINE, Calif., April 29, 2014 /PRNewswire/ -- ENER-CORE, Inc. (OTCQB: ENCR), whose proprietary Gradual Oxidation technology and equipment generates clean electric power from low quality and waste gases, is pleased to announce that EECT-Turbomachinery (EECT) has signed a Letter of Intent (LOI) for the prospected purchase of an Ener-Core powerstation with SABIC in Geleen, Netherlands, which is the Netherlands-based Polymers production subsidiary plant of Saudi Basic Industries Corporation.
SABIC is one of the world's leading petrochemical companies, and is a large producer of methanol, granular urea, mono-ethylene glycol, MTBE and engineering plastics, as well as polyethylene, polyolefins and polypropylene. In Europe, SABIC employs nearly 6,000 people, and is a major producer of plastics, chemicals and innovative plastics.
The LOI was signed one week after the official unveiling of the first operational Ener-Core powerstation in Europe, which took place in front of 75 industry specialists on April 3rd in the Netherlands. The LOI is a statement between SABIC and EECT, confirming the parties' intention to perform a feasibility study related to the generation of electricity with Ener-Core's powerstation while at the same time reducing the emissions from the SABIC's industrial waste gases and remaining at required low emissions of versatile organic compounds.
Bert Bosman, Technical Manager Energy at SABIC commented, "We will study how this new technology may have an upward potential compared to the technology we are using today. We look forward to a joint feasibility study with EECT to clearly define the advantages this technology may bring to our operations, as well as the underlying economics. However, our operations stay within the strict emission regulations that the legislators require from us, and hence this will also be a crucial element in the study."
Rogier van Eden, CEO of EECT, commented, "This is the first of several formal statements expressing the intent for further cooperation with industrial companies in Europe, after the successful public demonstration of Ener-Core's technology on April 3rd. Although the demonstration was performed on a large landfill, Ener-Core's technology has immense applications across a wide variety of industries, including plastics production, steel production, coal mines, oil refineries and ethanol plants. Virtually any industry that produces waste gases that typically get flared or vented into the atmosphere, can now use this breakthrough technology to reduce their air emissions while also producing clean power to supply their own operations."
Alain Castro, CEO of Ener-Core, commented, "Ener-Core is now starting to witness the early signs of market adoption for our breakthrough technology, after many years of intensive research and development efforts. Ener-Core's powerstation enables companies to effectively eradicate emission of their gaseous waste streams into the atmosphere, while at the same time using these gases to profitably produce energy.
"The importance of our recent public demonstration of our technology cannot be underestimated. The testimony of the 75 industry specialists, representatives of potential customers and media that attended the event, have turned skeptics into believers for the power of the Ener-Core Gradual Oxidizer. Now that we have unveiled our first operational unit in Europe, we are happy to see global industrial leaders such as SABIC seriously considering our technology to improve their operations."
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 Powerstation FP250 ("FP250"), and is developing its larger counterpart, the 2MW Ener-Core Powerstation 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 powerstations 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 serves several markets globally, including oil fields, biogas, coal mines, natural gas, emissions control, and utility power generation. For more information, please visit the Ener-Core website: Ener-Core.com.
EECT-Turbomachinery is a Dutch private company specialized in gas turbine technologies and Combined Heat and Power systems. The goal of the company is to create and promote sustainability in the field of energy conversion technologies.
The company is specialized in the implementation of the cleanest Gas Turbine and Gradual Oxidizer technologies, for pollution control and electricity and steam generation using low pressure, low quality gases which typically cannot be utilized or even flared. By integrating thermal oxidation with proven turbine technology, the systems are able to consume the widest range of gases from 100% to as low as 1.5% methane – all while producing near-zero NOx emissions.
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 November 15, 2013. Except as otherwise expressly referenced herein, Ener-Core assumes no obligation to update forward-looking statements
SOURCE Ener-Core, Inc.