VerdErg Selected to Present at CleanEquity Monaco 2013
LONDON, Feb. 18, 2013 /PRNewswire/ — VerdErg Renewable Energy Ltd. (“VerdErg”) will present at CleanEquity Monaco 2013 on March 7th at the Sporting d’Hiver, Monaco.
CleanEquity Monaco is an annual invitation-only event hosted by Innovator Capital, the London based specialist cleantech investment bank.
Other partners and sponsors include Prince Albert II of Monaco’s Foundation, Covington & Burling, PR Newswire, the Monte-Carlo SBM and Monaco Chamber of Economic Development.
VerdErg has been identified by an expert panel as one of the world’s most innovative cleantech companies and has been selected to present to senior financial and strategic cleantech investors, policy makers, legislators, end users and media.
VerdErg Renewable Energy Ltd. was spun out of a successful oil industry Subsea Engineering company with the objective of mapping over into the renewable energy arena the discipline skills, Quality Management methodology and “Lessons Learned” by the management team during 30+ years of successful operations in hostile aquatic environments. It was felt that the candidate renewable energy devices emerging at that time from Academia were sacrificing ease of installation and operational reliability by prioritizing nuanced improvement in thermodynamic energy conversion efficiency. This is academically satisfying but not of economic significance where the energy source is effectively limitless and free. By contrast, VerdErg prioritized low capital cost and operational reliability to deliver competitive, environmentally-friendly electrical energy.
VerdErg’s patented “SMEC” technology uses a no-moving-parts robust, passive duct to concentrate the natural flow energy into a fifth of the flow volume by amplifying the pressure drop inside the duct. This allows a conventional small high-speed turbine to reliably generate cost-effective electrical power on any scale from kW to GW. Once SMEC technology is fully matured with accumulating operating experience, it holds promise of renewable energy at 5¢/kWh, directly competitive with fossil fuel. VerdErg has just successfully tested a prototype on a river in the North-West of England with UK Government funding support. Once more experience with river installations is obtained, tidal estuary projects will be implemented.
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About Innovator Capital
Innovator Capital is a specialist investment bank advising Cleantech and Life Science companies from around the world. Established in 2003, Innovator focuses on the provision of expert strategic and capital markets advice, transaction arranging and M&A services for private and public companies.
SOURCE Innovator Capital