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FlexEnergy Announces Completed Acquisition of Ingersoll Rand’s Energy Systems Business, Uniting Clean Energy Technologies with Industry-Leading Microturbines

January 18, 2011

IRVINE, Calif., Jan. 18, 2011 /PRNewswire/ — FlexEnergy (www.flexenergy.com), a cleantech company that creates clean energy with near-zero emissions from harmful greenhouse gases, announces the completion of the acquisition of the Energy Systems business of Ingersoll Rand. The Energy Systems business is headquartered in Portsmouth, New Hampshire and is an innovator in environmentally friendly microturbines, microturbine systems and recuperators. FlexEnergy now has operations in New Hampshire, North Carolina and California, with customers and installations worldwide.

“The acquisition of Energy Systems allows FlexEnergy to accelerate our rollout of Flex Powerstations domestically and abroad by bringing to our team the talented engineering and manufacturing professionals of Energy Systems,” says Joseph Perry, CEO of FlexEnergy.

FlexEnergy recently unveiled its innovative Flex Powerstation technology at the Lamb Canyon Landfill in Riverside County which transforms harmful and previously unusable methane gas into clean energy with near-zero emissions.

With the acquisition of the Energy Systems MT250 microturbine product line, FlexEnergy now offers a family of systems that operate on the widest source of fuels with the lowest emission profile in the industry. FlexEnergy systems unlock the entire low Btu gas market creating a new class of continuous, clean, renewable energy.

Bob Mack, vice president of business development for Ingersoll Rand will join the FlexEnergy Board of Directors to assist the new company as a strategic partner. “The combination of FlexEnergy technology with Energy Systems business assets provides an enhanced family of systems for low emission power generation,” said Mack.

SAIL Venture Partners and RNS Capital Partners are lead investors in FlexEnergy, having participated in both a Series A and Series B offering and are actively involved in the company at the Board level.

About FlexEnergy

FlexEnergy (www.flexenergy.com) is the developer of one of the world’s cleanest power platforms, fueled by existing, unconventional energy sources to destroy pollution and create a new, sustainable energy source. FlexEnergy technology has taken one of the world’s largest sources of greenhouse gases (low quality methane) and transformed it from a source of pollution into an energy source for clean generation of electricity, offering energy recovery where it was previously impossible.

More than 300 million tons of methane seep into the atmosphere annually, most too dilute for current technology to destroy much less utilize to produce electricity. The Flex Powerstation runs effectively on many of these diluted waste streams, in concentrations too low for other conventional systems, and converts those waste streams (such as methane) into renewable energy. Unlike other technologies, the Flex Powerstation creates electricity with near zero NOx or CO emissions, providing breakthrough solutions for landfills, coalmines and manufacturers needing to stay ahead of emissions regulations. For more information, visit www.flexenergy.com.

About SAIL

SAIL Venture Partners LLC is a cleantech investment firm with unique global insight into technologies, markets and opportunities. Drawing on decades of experience in cleantech and in growing successful businesses, the SAIL team invests in emerging cleantech companies with proven technologies, visionary leadership, demonstrated revenue and profit growth potential. SAIL has invested in a number of today’s leading global cleantech companies, including: The Cleantech Group, FlexEnergy, Xtreme Power, Ice Energy, Enerpulse, Kokam Advanced Batteries, SNTech Motors, and WaterHealth International. For more information, visit www.sailvc.com.

About RNS Capital

RNS Capital is a closely held private equity platform investing in clean technology, energy services and education. For more information, visit www.rnscapitalpartners.com.

Contact: Brett Luedde, 949-636-1501, brett.luedde@flexenergy.com

SOURCE FlexEnergy


Source: newswire



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