Saturday, May 16, 2009

US Environmental Power and Xergi Collaboration Extended

Environmental Power, the US a developer which is an owner and operator of clean energy production facilities, which currently through their facilities generates significant quantities of tradeable carbon offset credits, has announced a new deal with Swedish renewables/ anaerobic digestion company Xergi.

The company is dedicated to producing energy that is clean, reliable and secure. Energy that uses waste materials instead of precious resources. Energy that is cost-effective, and available today. Energy that transcends conventional notions of what is possible, and that is for example - anaerobic digestion and biogas.

In their press release they tell us:

Environmental Power Announces Investment by Technology Provider Xergi A/S and New Cooperation Agreement

TARRYTOWN, N.Y., April 28, 2009 – Environmental Power Corporation, a leader in the renewable bioenergy industry, today announced that Xergi A/S of Denmark has entered into a new technology and financial agreement with them better reflecting EPG’s build / own / operate business model.

Under the terms of the new agreement, EPG and its wholly owned subsidiary, Microgy, Inc., will continue to have exclusive licensing rights for Xergi’s anaerobic digester technology in North America, while reducing the license fees on Microgy’s current and future projects. In addition, EPG and Xergi will continue to collaborate on development and use of other technologies and techniques such as the use of micro-organisms and enzymes, which enhance the production of biogas from manure and other organic substrates.

“This investment and agreement demonstrate Xergi’s continued confidence in Environmental Power’s business model and its commitment to support the company’s growth in the renewable energy market in North America. Together with Xergi, they will continue our work on technological advancements that will increase energy production from existing feed stocks, while lowering capital and operating costs for large-scale renewable energy projects,” said Rich Kessel, President and CEO of Environmental Power.

“We look forward to developing innovative solutions that maximize renewable energy from agricultural and other waste organic feed stock.”

“Environmental Power and its subsidiary Microgy have established themselves as the leader in development and commercialization of RNG® projects in North America,” said Frank Rosager, President and CEO of Xergi.

“We look forward to learning more about how to produce the equivalent of Environmental Power’s RNG® product in Europe while supporting Environmental Power’s continued growth in North America. This is truly a mutually beneficial relationship.”


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