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Sorry that was Markscheid. Out on Business Wire, having problems copying article.... Solid background, should be very helpful.
I did. Disruptive technology with ARTH - beneficial and impressive.
Ener-core appoints Stephen Marksheid to Board of Directors.
Sure does Pasta.. ARTH and ENCR are two of my favorites.. ENCR is taking longer than I expected but look where my ARTH is now bought most of my shares at 0.175 and .19 now at 0.659 up 243% and 265%.. PPS will only going to get better in July as they are going to announce the result of their human trial.. I mentioned ARTH here a few times so I hope someone on here got some..
Patience and hard work will pay off.
Ener-Core and the Dresser-Rand Business Enter into Commercial and Manufacturing License Agreement for Ener-Core’s Power Oxidizers
June 30, 2016
The Dresser-Rand business gains exclusive rights to manufacture and sell Ener-Core’s
1 – 4 MW range Power Oxidizers to industrial customers
Ener-Core shifts to a licensing fee business model with the Dresser-Rand business
IRVINE, Calif.-- Ener-Core, Inc. (OTCQB:ENCR), the world’s only provider of Power Oxidation technology and equipment that generates clean power from waste and low-quality gases from a wide variety of industries, signed a Commercial and Manufacturing License Agreement (CMLA) with the Dresser-Rand business, part of Siemens Power and Gas Division. The Agreement grants the Dresser-Rand business the exclusive right to manufacture Ener-Core’s Power Oxidizers within the 1 to 4 MW power capacity range and to sell the Power Oxidizers (integrated with the 2 MW KG2 turbine manufactured by the Dresser-Rand business) directly to industrial customers.
The CMLA will be effective upon the successful completion of the Full-Scale Acceptance Test of the 2 MW system, which is expected to reach completion in July.
The CMLA will replace the existing November 2014 Commercial License Agreement (CLA), which did not allow for the manufacture of the Power Oxidizer system; upon the effectiveness of the CMLA, the existing Commercial License Agreement (CLA) between the Dresser-Rand business and Ener-Core will expire.
As this new CMLA will allow the Dresser-Rand business to manufacture Ener-Core’s Power Oxidation systems, it will enable Ener-Core to reduce its manufacturing infrastructure and lower its operating costs, thereby allowing Ener-Core to focus on its core business of developing and deploying additional applications for its groundbreaking technology.
Ener-Core will collect a license fee payment for each unit that the Dresser-Rand business sells, with the precise fee payable based on a percentage of the total value of each system sold. Ener-Core expects to collect license fees between $370,000 and $600,000 per unit. The Dresser-Rand business expects manufacturing of Ener-Core’s Power Oxidizer units to begin by the end of 2016 with initial sales occurring within calendar year 2016. The Dresser-Rand business has additionally agreed to minimum sales thresholds, beginning in 2017, to sustain the terms of exclusivity. Ener-Core expects that these minimum payments, combined with Ener-Core’s reduced operating expenses, will enable Ener-Core to be cash flow positive within 12 to 18 months.
For Ener-Core, this new agreement represents the third portion of a two-year strategic evolution of its business model. In 2014, Ener-Core launched its 250kW power-stations, manufacturing in-house and selling the systems directly to industrial customers. Ener-Core then scaled up the capacity of these systems by a factor of eight times (to 2 MW) and contemporaneously signed a Commercial Licensing agreement whereby the Dresser-Rand business secured the license to sell Ener-Core’s technology coupled with the Dresser-Rand business’ KG2 turbines. This new agreement allows the Dresser-Rand business to also manufacture the Ener-Core Power Oxidizers that are sold to industrial customers.
Alain Castro, CEO of Ener-Core, said, “With the signing of the CMLA, Ener-Core continues its transformation to a low-cost, high-margin license fee business for our technology. We believe that by leveraging the economies of scale and supply chain efficiencies of large multinational companies as Siemens and the Dresser-Rand business, we can accelerate the adoption of our technology and shorten our pathway to profitability. Furthermore, given the advanced commercial pipeline of opportunities that has been developed over the last 18 months through the collaborative efforts between Ener-Core and the Dresser-Rand business’ sales teams, we believe the Dresser-Rand business will be able to start closing additional commercial sales in 2016 and rapidly ramp up to exceed the minimum threshold of annual sales beginning in 2017. Those minimum annual sales thresholds are aligned with Ener-Core’s pathway to profitability mandate. Lastly, through this shift in our business model, we can substantially reduce our costs as we will no longer have a need to maintain our current levels of manufacturing infrastructure. We are very enthusiastic about this new era for Ener-Core and are looking forward to a prosperous collaboration with our colleagues at the Dresser-Rand business. ”
Paulo Ruiz, Vice President of Commercialization for the Dresser-Rand business, said, “This Agreement marks a new phase of cooperation between our two companies. Our engineering teams have been working closely with the Ener-Core team over the last 18 months, while our commercial teams have been actively developing a strong commercial pipeline of opportunities for this breakthrough technology. We look forward to working with Ener-Core as we ramp up our manufacturing and sales activities of Power Oxidizers for the benefit of a potentially wide range of industrial customers.”
About Ener-Core
Irvine, California-based Ener-Core, Inc. (ENCR) designs, manufactures and has commercially deployed unique systems that generate base load, clean power from polluting waste gases including methane. Ener-Core's patented Power Oxidizer turns one of the most potent pollution sources into a profitable, "always on" source of clean energy. Ener-Core's technology offers an alternative to the flaring (burning) of gaseous pollution while generating operating efficiencies and reducing the costs of compliance with costly environmental regulations. Ener-Core offers the 250kW Ener-Core EcoStation EC250 ("EC250") and the larger counterpart, the 2MW Ener-Core Powerstation KG2-3GEF/PO.
About Dresser-Rand
The Dresser-Rand business, part of Siemens Power and Gas (PG), is a leading supplier of mission-critical, high-speed rotating equipment solutions to the worldwide oil, gas, petrochemical, and process industries. As part of the global Siemens family, the Dresser-Rand business offers an equipment portfolio that includes turbo and reciprocating compressors; steam turbines; industrial and aero-derivative gas turbines; high-speed engines; and modular power substations. With the world's largest installed base, one of the world's largest technical support and service center networks, and a presence in more than 150 countries worldwide, the Dresser-Rand business delivers local solutions and services on a global scale.
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 "plans," "expects," "believes," "strategy," "opportunity," "anticipates," “potentially,” “should,” 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 the date of this press release. Except as otherwise expressly referenced herein, Ener-Core assumes no obligation to update forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160630005260/en/
Dian Griesel Int’l.
212-825-3210
Investor Relations:
Cheryl Schneider
Media Relations:
Susan Forman
Source: Ener-Core, Inc.
Released June 30, 2016
Pathway to Value
Both SAIL and Ener-Core believe that the stock is undervalued at the current market price and that, if ENCR survives through this current
bridge, it can achieve valuations many times the current valuation under the right leadership. The past lack of sales and revenues
performance is a big concern, but pending corporate partnerships could make a significant difference in customer confidence. If ENCR is
successful in building value, the need greatly increases for management of the utmost integrity.
Kick but and take names.
Time will tell hopefully they will bring in a CEO who knows what he is doing..
This does not bode well for Ener-Core. Or maybe it does!!
Where can I find the presentation?
The presentation sent out for their investor conference was very well done.
Ener-Core and Dresser-Rand Business Initiate Operation and Full Scale Test of First 2 MW System Utilizing Power Oxidation Technology
June 09, 2016
IRVINE, Calif.-- Ener-Core, Inc. (OTCQB:ENCR), the world’s only provider of Power Oxidation technology and equipment that generates clean power from waste and low-quality gases from a wide variety of industries, initiated its Full Scale Acceptance Test (FSAT) connecting the company’s first-ever 2 MW Power Oxidizer with the Dresser-Rand business’ KG2-3G gas turbine. The FSAT involves a fully functional system in a configuration that enables testing of all performance against specifications.
After successful testing, the FSAT will trigger the payment of a $1.6 million license fee from the Dresser-Rand business, part of Siemens Power and Gas Division, payable to Ener-Core. The license agreement grants the Dresser-Rand business exclusive rights to commercialize the Ener-Core Power Oxidizer technology in the 1 to 4 MW range, bundled with the Dresser-Rand business’ KG2 gas turbine product line. The combined solution provides both companies with a unique and significant commercial advantage to address the burgeoning market of emissions compliance.
Also following successful testing, the Dresser-Rand business can assemble and ship the first two commercial 2 MW systems to Pacific Ethanol, Inc. (NASDAQ:PEIX), who placed the first purchase order for this large-scale technology. It will also enable Ener-Core’s and the Dresser-Rand business’ manufacturing teams to finalize the system’s design in anticipation of future customer orders.
To see the fully assembled and operational unit please go to the following links:
http://ener-core.com/wp-content/uploads/2016/06/ENCR21.jpg
http://ener-core.com/wp-content/uploads/2016/06/ENCR1.jpg
Alain Castro, CEO of Ener-Core, said, “Launching this innovative power-generation technology at the utility-scale size represents a significant contribution to both the energy industry as well as to the pollution abatement industry. A 2 MW system is large enough to power 2,000 to 3,000 homes; with this system we can enable many industries to generate this amount of power from their poor-quality waste gases that usually get discarded and end up as air pollution.”
Over the past 18 months, the engineering teams at Ener-Core and the Dresser-Rand business have worked together as a cohesive multinational team across multiple cities to design and build this first system of its kind. This same team also put into place a strong test program to ensure these systems are adequately tested prior to deployment in the field. “We have a high level of confidence that the FSAT will go smoothly and look forward to analyzing the results,” said Castro.
Ener-Core signed a Commercial License Agreement with Dresser-Rand in November 2014. Since then, Ener-Core’s engineering team has been working closely with a multinational team of engineers from the Dresser-Rand business to design, build, test, and deploy the 2 MW system. The first major technical milestone was achieved in May 2015 when the teams successfully completed a Sub Scale Acceptance Test (SSAT). The SSAT demonstrated that Ener-Core’s technology could generate enough heat from low-quality gases to power a 2 MW gas turbine. This FSAT will be the final test within the framework of the Dresser-Rand business license agreement with Ener-Core, and will trigger the full commercial deployment of this unique 2 MW system that has been designed specifically to produce clean energy from low-quality industrial waste gases.
The Dresser-Rand business, part of Siemens Power and Gas (PG), is a leading supplier of mission-critical, high-speed rotating equipment solutions to the worldwide oil, gas, petrochemical and process industries. As part of the global Siemens family, the Dresser-Rand business offers an equipment portfolio that includes turbo and reciprocating compressors; steam turbines; industrial and aero-derivative gas turbines; high-speed engines; and modular power substations. With the world’s largest installed base, one of the world’s largest technical support and service center networks, and a presence in more than 150 countries worldwide, the Dresser-Rand business delivers local solutions and services on a global scale.
About Ener-Core
Irvine, California-based Ener-Core, Inc. (ENCR) designs, manufactures and has commercially deployed unique systems that generate base load, clean power from polluting waste gases including methane. Ener-Core's patented Power Oxidizer is the only solution of its kind that turns one of the most potent pollution sources into a profitable, "always on" source of clean energy. Ener-Core's technology offers a revolutionary alternative to the flaring (burning) of gaseous pollution while generating operating efficiencies and ensuring compliance with costly environmental regulations.
Ener-Core offers the 250kW Ener-Core EcoStation EC250 ("EC250") and the larger counterpart, the 2MW Ener-Core Powerstation KG2-3GEF/PO.
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 the date of this press release. Except as otherwise expressly referenced herein, Ener-Core assumes no obligation to update forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160609005388/en/
Dian Griesel Int’l.
Investor Relations:
Cheryl Schneider, 212-825-3210
or
Media Relations:
Susan Forman, 212-825-3210
Source: Ener-Core, Inc.
Released June 9, 2016
Business Wire
Ener-Core and Dresser Rand initiate Operation and Full Scale Test of First 2MW System
Ener-Core to Present at LD Micro Investor Conference on June 9, 2016
June 01, 2016
CEO Alain Castro to Provide Update on Company Milestones
IRVINE, Calif.-- Ener-Core, Inc. (OTCQB:ENCR), the world’s only provider of Power Oxidation technology and equipment that generates clean power from waste and low-quality gases from a wide variety of industries, will be presenting at the 6th annual LD Micro Invitational conference taking place from June 7-9, 2016 at the Luxe Sunset Bel Air Hotel in Los Angeles, CA.
Ener-Core Chief Executive Officer Alain Castro is scheduled to present on Thursday, June 9 at 8:00 AM PDT in Track 2. He will provide an update on company milestones. In addition to presenting, Mr. Castro and Domonic J. Carney, CFO, will be available to participate in one-on-one meetings with investors that day. Conference participants who are interested in scheduling a meeting with management are encouraged to sign up through the conference’s portal, or by calling Cheryl Schneider of Dian Griesel International at 212-825-3210.
Mr. Castro said, “Ener-Core’s focus in 2016 is on the deployment of the 2 MW version of our system. We are enthusiastic about speaking with investors and updating them on our progress at this event.”
Betting the farm on black.
I'm long. This is a spec lotto. Not my pension. Good luck gambling.
But I'm prepared to lose this all as you should. I've already collected on the short. This is not an investment. None of you should consider your money in this as such.
Nobody wanting to support your short ambitions?
True that! I'd rather have my money invested in ENCR than having my money in the bank at least I'll have a chance to double or triple my money than having to collect less than 1% from the bank..
On the flip side, those that own it don't want to sell it .
123 shares traded over the last two days. How's that for volume? Haha.
Then don't be so surprised when your stock doesn't move on news.
I don't care about your analysis at this point.
You just don't get it. This company isn't going to make any profits for a decade. No one wants to buy it.
WTF their PR doesn't even make the Ihub feed..
Or maybe not. Surprised there was no volume on this encouraging pr.
Ener-Core Receives Purchase Order to Install Four EC-250 EcoStations at Toyon Canyon Landfill in Los Angeles
May 19, 2016
Closed Landfill in Griffith Park to Generate 1 MW of Clean Power for 10 to 15 Years Using Ener-Core EcoStations
IRVINE, Calif.-- Ener-Core, Inc. (OTCQB:ENCR), the world's only provider of Power Oxidation technology and equipment that generates clean power from waste and low-quality gases from a wide variety of industries, received a conditional purchase order worth $3.29 million to build, deliver and install four of its EC-250 EcoStations at the Toyon Canyon Landfill site within Los Angeles’ Griffith Park. The project will enable the Toyon Canyon Landfill to produce 1 MW of clean power for the next 10 to 15 years. The landfill, which closed in 1985, is no longer receiving municipal waste and its gas quality has reduced to levels infeasible for generating electricity with traditional power equipment.
Alain Castro, CEO of Ener-Core, said, “We applaud the city of Los Angeles for choosing to use a clean power solution such as ours, rather than flaring off excess gas. Through this project, in the heart of Griffith Park, Ener-Core has an opportunity not only to reduce pollution and contribute clean power to the city of Los Angeles but also to set a precedent for other closed landfills globally that continue to vent or flare their waste gases, usually for many decades after the landfills are closed."
Ener-Core partnered with Delos Energy, LLC to finance the re-powering of the landfill site. With the installation of the four EcoStations, Ener-Core expects to be able to convert the landfill’s waste gases into clean electricity for Los Angeles, while at the same time reducing nitrogen oxide (NOx) emissions significantly in comparison to flaring. Delos Energy has acquired Toyon Landfill Gas Conversion, LLC, which has historically had the rights to the gas from the landfill and generated power with traditional engines. As the landfill has been closed for years, the gas quality has reduced, and the traditional engines were scheduled to be decommissioned. Ener-Core has been contracted by Toyon Landfill Gas Conversion, LLC over the next 12 to 18 months; first to restart the existing engine at the site and operate it to continue generating electricity, and then to re-power the site by installing Ener-Core’s EcoStations which are designed to operate with these low quality gases.
Brian Ladin, CEO of Delos Energy, said, “There is a sizeable market for generating clean power from closed landfills. We look forward to working with Ener-Core on this important project in Griffith Park, which will represent a new source of clean power for the city of Los Angeles and are enthusiastic about collaborating on similar projects at other sites should the opportunities arise.”
The purchase order for the four Ener-Core EcoStations is conditioned upon the execution of a new Power Purchase Agreement with Los Angeles Department of Water and Power (LADWP); a Letter of Intent with the Southern California Public Power Authority is already in place. Once the new Power Purchase Agreement is executed, confirming the commitment of the city of Los Angeles to purchase the power that is produced from the Toyon Canyon Landfill, Ener-Core will initiate the re-powering of the site.
This project is being initiated in the wake of the passage of South Coast Air Quality Management District’s Rule 1110.02, which takes effect on January 1, 2017 and which requires significant reductions in nitrogen oxide (NOx), volatile organic compounds (VOCs) and carbon monoxide (CO) emissions from engines. Ener-Core’s systems can generate 250 kW to 1.85 MW of power from low-quality gases that have historically been deemed infeasible for power generation, while also generating virtually zero NOx emissions.
About Ener-Core
Irvine, California-based Ener-Core, Inc. (ENCR) designs, manufactures and has commercially deployed unique systems that generate base load, clean power from polluting waste gases including methane. Ener-Core's patented Power Oxidizer is the only solution of its kind that turns one of the most potent pollution sources into a profitable, "always on" source of clean energy. Ener-Core's technology offers a revolutionary alternative to the flaring (burning) of gaseous pollution while generating operating efficiencies and ensuring compliance with costly environmental regulations.
Ener-Core offers the 250kW Ener-Core EcoStation EC250 ("EC250") and the larger counterpart, the 2MW Ener-Core Powerstation KG2-3GEF/PO.
About Delos Energy LLC
Delos Energy LLC is a Dallas-based investor in alternative energy projects. The principals of Delos Energy have extensive investing experience in energy, technology and transportation sectors.
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 the date of this press release. Except as otherwise expressly referenced herein, Ener-Core assumes no obligation to update forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160519005334/en/
Investor Relations:
Dian Griesel Int’l.
Susan Forman, 212-825-3210
or
Cheryl Schneider, 212-825-3210
Source: Ener-Core, Inc.
Released May 19, 2016
All aboard! Train is leaving the station! 4 p.o.'s
Surprised by the volume today. Thanks for the info.
Fortunately for me stocks are not my income. I have done very well with my GE and US Steel as of late and I did not listen to the nay sayers with those stocks when I bought in at 6.95 on each.
I like ener-core technology as it is a win win so guess we shall see, just time and money.
Sorry I didn't answer your question specifically. Just explained how they prop without risking anything.
And because eventually the 15% extra shares that were shorted are completely covered and they will not buy additional to risk being long.
Cash flow does not mean any profit. I can't see this company turning a profit for over a decade.
https://en.wikipedia.org/wiki/Greenshoe
To manage this situation, the underwriters initially oversell ("short") the offering to clients by an additional 15% of the offering size (in this example, 1.15 million shares). When the offering is priced and those 1.15 million shares are "effective" (become eligible for public trading), the underwriters are able to support and stabilize the offering price bid (also known as the "syndicate bid") by buying back the extra 15% of shares (150,000 shares in this example) in the market at or below the offer price. The underwriters can do this without the market risk of being "long" this extra 15% of shares in their own account, as they are simply "covering" (closing out) their short position.
Keep in mind this refers to high demand but the same concept applies to propping a stock.
So if they are propping then why would it go back into the 2's?
Wish ENCR kicks ass just like my ARTH and UNXL are doing this year.. Return so far ARTH (109.73%) and UNXL (150.32%)
According to js9909 it could take up to 5years for ENCR to see cash flow.. oh well I am glad I am still in my 40s and I have time to wait to see if this company will succeed or fail..
So did you sell all your shares?
Probably a thousand times. Propping up stock by having underwriters soak up supply especially around IPO is common practice. It looks to be happening here.
Is that how it works..... How many times have you been down this path?
Propped is the right word. They've paid their underwriters well.
Whatever the case, seems to me that whenever we go below $4 somebody steps in and props the price back up.
That is my understanding but I wanted to make and emailed DJ but I haven't heard from him..
What do you mean? The annual report is biased propaganda?
Biased propoganda. Enjoy the continued dilution
Negative nancy ..... Like that. Did you read the annual report, and if so was I correct on the automatic extension for the IPO?
Lol are you joking? All they do is dilute. They have no profits. It could be 5 years before they have cash flow. And no one is going to spend money on this thing anytime soon in this market economy. Enjoy the lottery tickets. That's all this is. And you all know what happens to your lottery tickets. Donations!!
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Ener-Core has developed the 250kW Ener-Core Powerstation FP250 (“FP250”), and 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.
Ener-Core, together with select partners, serve both private and government entities worldwide. Through its dedicated team of experienced professionals, who hold degrees in a variety of engineering, professional, and scientific fields, Ener-Core drives product innovation that solves real-world challenges. Ener-Core is headquartered in Irvine, California, USA.
ENER-CORE POWERSTATION FP250
Attero (the largest biogas producer in the Netherlands) installed an FP250 machine at its Schinnen landfill. For the first time ever, a gas that is both too low in energy density (calorific value) to be processed by traditional power generation is being utilized to produce clean renewable energy.
watch the video of the event at http://www.youtube.com/watch?v=lFUWRoZ9bMA
Economic
Environmental
Operational
Transforming Low-Btu Landfill Gas into Clean Onsite Power
In November 2011, Ener-Core commissioned a FP250 field test unit at the U.S. Army base at Fort Benning, Georgia. The Fort Benning FP250 project was funded by the DoD Environmental Security Technology Certification Program (“ESTCP”), which seeks innovative and cost-effective technologies to address high-priority environmental and energy requirements for the DoD. We were a subcontractor to Southern Research Institute (“SRI”), a not-for-profit 501(c)(3) scientific research organization that conducts advanced research in environmental, energy, and other fields.
As part of the ESTCP protocol, SRI conducted independent verification tests in October 2012. Exhaust emission measurements were taken per standard EPA reference methods. Among the results, which will be published formally in coming months by SRI, the FP250 emitted far below the allowable NOx limits of California Air Resources Board (“CARB”) 2013 waste gas standards, considered among the strictest in the world. To our knowledge, the FP250 is the only power generation solution to meet this standard using a gas turbine or reciprocating engine without chemicals or catalysts.
The Fort Benning project provided us with an opportunity to successfully operate the FP250 on a closed landfill with application challenges. First, the landfill collection system initially provided fuel of insufficient volume to operate the unit. Our team adapted the unit to accept supplementary fuel in addition to the LFG. Also, an unreliable electric grid caused impediments to operation. Our team addressed this application challenge by modifying the hardware and software to ensure robust, continuous operation in this harsh environment. In addition to overcoming these application challenges, we also made key improvements to core components, such as the filter, insulation systems, and system controls. These changes and improvements will be included in future applications and the commercial product.
The Fort Benning FP250 now is property of the base, and we are working with SRI and the Army on a successful transition to full commercial operation.
The Ener-Core Powerstation is the integration of a gradual oxidizer and a gas turbine, which results in a system that can generate electricity from a wide range of gaseous fuels, while producing ultra-low emissions. The system provides a solution for using ultra-low Btu fuels, and can accept fuel gas with such dilute methane concentrations that they are typically considered unusable. The system also provides a solution for producing ultra-low emissions, and can achieve less than 1ppm of NOx, CO, and VOC emissions. The Ener-Core Powerstation can be configured to produce a ultra-low Btu utilization solution, a ultra-low emissions solution, or both.
In conventional technologies, compressed fuel is injected into compressed air and combusted. This high-temperature and high pressure fuel/air mixture spins the turbine at high speeds to generate electricity. Each fuel is different, and therefore requires its own compressor, clean-up, and unique combustor. In the Ener-Core Powerstation, the conventional combustor is replaced by the Gradual Oxidizer, which produces the heat to drive the turbine. Because there is no flame in the oxidizer, and the operating temperatures are kept below 2000° F (1100 °C), the Ener-Core Powerstation avoids NOx formation. In addition, fuel conditioning systems can be the weakest link in traditional gas power plants and can consume up to 20% of the power generated. The Ener-Core Powerstation has a high tolerance for contaminants like H2S and siloxanes in the fuel gas and thus requires substantially less fuel pre-treatment than competitive systems.
The Ener-Core Powerstation FP250 is engineered to operate on gas much lower in quality than a typical engine or turbine. This is achieved with an “Aspirated Configuration” of the Ener-Core Powerstation, where fuel is aspirated with air forming a fuel/air mixture prior to the inlet. The gas is diluted to 1.5% fuel concentration by volume. This is intended to minimize the overall system parasitic loads and decrease capital costs since the high pressure compression and associated fuel conditioning should no longer be required. The system is designed to accept fuel at low pressure, with only a simple water knockout requirement. The fuel/air mixture is then compressed and oxidized in the Gradual Oxidizer, which produces the thermal energy to spin the turbine and generate electricity. The system is aimed to consistently achieve low emissions, with exhaust NOx (oxides of nitrogen) emissions below 1 ppmv @ 15% O2.
This solution is designed for customers intending to generate energy from low-Btu fuels, including previously unusable gases typically vented or flared.
The Ener-Core Powerstation can also achieve emissions of less than 1ppm of NOx, CO, and VOCs. This is achieved with a “Direct Inject Configuration” where fuel gas, instead of being aspirated with air prior to inlet, is externally pressurized and delivered directly into the Ener-Core Gradual Oxidizer. This configuration is most applicable for higher-Btu fuels. With higher quality fuel, the added parasitic load for the external gas compression can be more readily absorbed thus optimizing overall site power output.
This solution is designed for customers intending to meet emissions regulations in areas with significant air quality problems. Generally, installation of new power generating equipment in such areas requires complicated air permitting and compliance with very strict air quality regulations and controls.
MANAGEMENT TEAM
Ener-Core’s management team brings a high level of expertise, solid executive business experience and a deep understanding of the practical needs of the energy market. Leadership’s continual focus is on creating value for all of its stakeholders.
London Business School: Sloan Fellowship, Executive Masters Degree, Business and Management; University of Texas, B.S., Industrial and Mechanical Engineering.
Alain is the Chief Executive Officer of Ener-Core, Inc. He has spent the vast majority of his career developing, financing and building new power generation plants, as well as optimizing older energy infrastructure assets across many countries throughout Europe, Latin America and North America. Most recently, he was interim CEO of the North and South America divisions of Akuo Energy, a leading international developer/operator of renewable energy projects with over $1 Billion in operational power plants. He also founded International Energy Ventures in 2002, which has invested capital and nurtured the growth of companies across the areas of fuel cells, batteries, wind energy and biofuels.
Prior to his career in the renewable energy sector, Alain was a Partner at Ernst & Young Consulting, and held overall responsibility for the firm’s oil & gas industry consulting practice across the South America region.
In addition to his role with Ener-Core, Alain is currently an executive advisor to one of the largest global manufacturers of utility-scale wind turbines, as well as a member of the advisory board of Global Energy Innovations, a leading provider of diagnostics solutions for the utility-scale energy storage and standby power sectors.
Moscow Institute of Physics and Technology: Ph.D., Electrical Engineering; B.S., M.S., Electrical Engineering and Computer Science
Boris is the President of Ener-Core, Inc. He was previously the Vice President of Corporate Development at FlexEnergy where he led Strategic Planning, Technology Development, and Intellectual Property Protection. Boris holds CEO experience at Energy One, a renewable energy project development company. He has served as CEO of several technology and financial companies, as well as CTO of WaveCrest Laboratories, a manufacturing company specializing in electric transportation markets.
As a leading Russian scientist, Boris spent his early career working in Moscow for various organizations, including the Moscow Institute of Physics and Technology, the Foreign Policy Association established by Edward Shevardnadze, and the Soviet-American Foundation Cultural Initiative established by George Soros. Boris is a senior member of IEEE and holds more than 30 US and international patents.
Northeastern University: Masters in Accounting; Dartmouth College: Bachelors degree in Economics
D.J. is a seasoned clean-tech corporate finance executive with over twenty-four years of experience in high-growth environments including over eight years as the CFO for NYSE MKT and Nasdaq OTC public companies. D.J. has successfully raised over $300 million of debt or equity financing transactions and closed over $200 million of M&A transactions.
Between 2005 and 2012, he was CFO of Composite Technology Corporation, a clean tech company in Southern California, where he helped the company grow from pre-revenue to over $75 million in revenue within three years. D.J. began his career with Deloitte & Touche and has spent over ten years in VC-backed high tech software, networking, and Internet startups in the Bay Area and Southern California. D.J is an (inactive) CPA.
Massachusetts Institute of Technology: M.S., Mechanical Engineering; Illinois Institute of Technology, BS, Mechanical Engineering
Doug Hamrin is the VP of Thermal Oxidizer Engineering at Ener-Core, Inc., and is responsible for the technical development of the oxidizer at Ener-Core. He has filed 17 patents on Ener-Core Technology over the past 4 years, during which he served as Director of Thermal Oxidizer Development at FlexEnergy.
Prior to joining Ener-Core, Doug held positions as Technical Manager, Applications for Honeywell Turbo Technologies, the Director of Fuel Systems at Capstone Turbine Corporation, and Engineering at Generals Motors Powertrain Division. With more than 20 years of experience in the industry, he has a proven record of product development and launch. During his career he led engineering teams to develop gas turbine solutions, customized turbochargers for large volume OEM customers, fuel systems, and spark ignition engines.
Bennet Tchaikovsky has served as a Chief Financial Officer for publicly traded and privately held companies for the last 15 years including Skystar Bio-Pharmaceutical Company (NASDAQ: SKBI) and China Jo-Jo Drugstores, Inc. (NASDAQ: CJJD). As CFO, Mr. Tchaikovsky assisted these companies with raising over $55 million collectively through public offerings, obtained three NASDAQ up-listings, and led a company through the direct listing process. Presently, Mr. Tchaikovsky consults for publicly traded companies providing guidance as to reporting responsibilities, investor relations, and cost reduction strategies.
In addition to his CFO roles, Mr. Tchaikovsky has served as chairman of the audit committee and “designated financial expert” for several publicly traded companies including Ever-Glory International Group (NYSE MKT: EVK). Mr. Tchaikovsky serves on the advisory boards of the Arthritis National Research Foundation (www.curearthritis.org), and the audit committees of Pretend City Children’s Museum (www.pretendcity.org) and the Long Beach Day Nursery (www.lbdn.org). Mr. Tchaikovsky is also an adjunct instructor of accounting at Irvine Valley College and Pasadena City College.
Mr. Tchaikovsky earned his Juris Doctor degree from Southwestern University School of Law in Los Angeles, CA, and earned a Bachelor of Arts degree in Business Economics from the University of California at Santa Barbara. Mr. Tchaikovsky is an actively licensed California Certified Public Accountant and active member of the California State Bar.
Jeff retired from Caterpillar Inc. in 2012 after a 34 year career. During that period he held senior management positions with geographic, distribution and global business unit responsibilities. Those responsibilities were carried out from positions based in Asia, Europe, South America and the U.S. The majority of his focus being on the Power Generation and Mining markets.
Most recently, Jeff was the Managing Director of Caterpillar Power Generation Systems. In this role he had global responsibility for the design, sale, construction and operation & maintenance of turn-key power plants based on Caterpillar technology. The power plants ranged in size from 50 to 200 MW and were used in both base load and peaking capacity. Prior to that, he was the Managing Director of F.G. Wilson, a subsidiary of Caterpillar, whose global focus was on the design, distribution and product support of power generation products in the 15 to 2000 KW range which were used in emergency back-up and prime power applications. Other key positions held include Director of Electric Power and Director of the Caterpillar Corporate Mining Group.
University Of Wisconsin, B.S., Economics; Carnegie Mellon, Program For Executives; Caterpillar Advanced Management Program
Stephen brings to the advisory board over three decades of exemplary commitment to the environment. Within the EPA, he controlled a $7.7 billion annual budget and managed over 17,000 employees. He is also the recipient of the White House’s Presidential Rank Award, the highest award bestowed to civilian federal employees. Before working for the U.S. Government, he held a number of positions in laboratory and bio-technology companies. He was also the director of Hazelton Laboratories, now Covance.
Stephen began working at the EPA in 1979. He had been working at a private lab, Litton Bionetics Inc., in Washington. Johnson’s rise from career scientist to EPA chief began in 2001, when he made the jump from civil service bureaucrat to political appointee after serving as the acting deputy administrator in 2003 and then in January 2005 the acting administrator of the EPA. On March 4, 2005, President George W. Bush nominated him formally for the permanent position. He became the first career employee to hold the position of Administrator and the first scientist to head the Agency. His tenure as Administrator of the EPA expired on January 20, 2009. Stephen received a B.A. in Biology from Taylor University and a Master’s Degree in Pathology from George Washington University. He has also been awarded honorary Doctor of Science degrees from Taylor University and Wesleyan University.
He held leadership positions including Partner at SAIL Venture Partners, CEO at Vigilistics, CEO at Nexiant, CEO at ARGO Tracker, VP of Global Operations at Cogent Communication, and Director of the South American Automotive Practice at Ernst & Young Consulting. Recognized as an expert in private equity, energy, supply chain, operations, manufacturing, product development and logistics, Mike has spoken at multiple conferences and written numerous articles. Mike serves on several boards including the Advisory Board for California Polytechnic State University, San Luis Obispo. He has also received multiple awards throughout his career, including Top 100 Most Innovative Vendors from Supply and Demand Chain Executive and Deloitte and Touche Fast 500. He earned a Masters in Business Administration from Harvard Business School and a Bachelor of Science degree in Industrial Engineering from California Polytechnic State University, San Luis Obispo
Chris is a scientist and entrepreneur with diverse business and technical backgrounds. His past experiences have spanned multiple verticals, including electronics, textiles, and telecommunications. His background and experience position him at the crossroads of business and technology. He holds a M.B.A. from Harvard Business School and a Ph.D. in Physics from North Carolina State University. Chris’ technical background includes a pioneering accomplishment in the field of MEMS cryotribology, the study of surface friction on the micro and nano length scales at cryogenic temperatures. He has worked with colleagues from UC Irvine, UC San Diego, Sandia National Laboratory, Naval Research Laboratory (NRL), and Irvine based start-up wiSpry on DARPA and Air Force Office of Scientific Research (AFOSR) funded MEMS initiatives. Chris’ results are part of a larger body of work recognized in 2010 by the National Science Foundation’s American Competitiveness and Innovation (ACI) Fellow Award. Results achieved in this work will lead to effective methods for controlling friction and associated energy losses equivalent to 1-2% of annual GDP for US industries. In addition, Chris was a project engineer with Corning in the world’s largest volume fiber optic production facility. He also co-founded a textile dye company based on technology developed jointly with Procter and Gamble, Leeds University, and North Carolina State University. Earlier in his career, Chris worked as an intern with venture-backed solar panel manufacturer Stion, where he was part of the team that initiated a joint venture with Taiwan Semiconductor.
Preferred Authorized Shares | $1M | a/o August 14, 2015 |
Shares Outstanding | 2,282,120M | a/o August 14, 2015 |
Pulic Float | 35,801K | |
Authorized Shares | 4,000,000M | a/o August 14,2015 |
Shares Issued | 2,463,876M | |
a/o August 14, 2015 | ||
Shareholders of Record | 152 | a/o Apr 15, 2014 |
Investor Updates
Question 1. What is the significance of the agreement that Ener-Core has recently signed with Dresser-Rand?
https://www.youtube.com/watch?v=-hO5PfS4G3Q
Question 2. Are there opportunities to expand the Dresser-Rand agreement?
https://www.youtube.com/watch?v=cXS8HY7ji2A
Question 3. Some have heard you say that Ener-Core is under-valued. Why do you believe this to be the case?
https://www.youtube.com/watch?v=VqfVQ63OYfQ
Question 4. We have not seen any sales booked since the ribbon cutting event in June, what's the status on the next sales?
https://www.youtube.com/watch?v=yfPgqvhuLL8
Question 5. You've made a couple of interesting additions to the Board of Directors recently. How have you been able to continue to attract directors of such a high caliber?
https://www.youtube.com/watch?v=UQxqRmoFyPk
Question 6. Why aren't directors and management making open market purchases?
https://www.youtube.com/watch?v=gVZIvm7DH_s
Top 10 Institutions: | Top 20 Institutions: | Top 50 Institutions: | All: |
Percentage of Total Holdings since 8/18/15 | |||||
---|---|---|---|---|---|
SAIL Capital ... | 591.2K | $3,872,596 | +64% | 24.0% | Low |
Geneva Advisors, LLC | 158.6K | $1,038,588 | +17% | 6.4% | Low |
Empery Asset ... | 118.8K | $1,010,089 | +13% | 4.8% | High |
Maslov (Boris A) | 31.3K | $204,688 | +3% | 1.3% | Low |
Carney (Domonic J) | 7.7K | $50,219 | +1% | 0.3% | Low |
Castro (Alain J) | 7.2K | $46,937 | +1% | 0.3% | Low |
Hamrin (Douglas ... | 5.5K | $69,350 | +1% | 0.2% | -- |
Brown ... | 2.9K | $19,218 | 0% | 0.1% | Low |
Horn (Jeffrey Alan) | 1.3K | $8,738 | 0% | 0.1% | Low |
Hammons (Michael J) | 1.3K | $8,738 | 0% | 0.1% | Low |
NEWS:
http://ir.ener-core.com/press-releases/detail/62
http://ir.ener-core.com/press-releases/detail/57
http://ir.ener-core.com/press-releases/detail/56/ener-core-receives-900000-purchase-order-for-installation
http://ir.ener-core.com/press-releases/detail/55/ener-core-receives-2-1-million-purchase-order-and-initial
http://finance.yahoo.com/news/ener-core-strengthens-leadership-team-113000027.html
http://finance.yahoo.com/news/ener-core-holland-renewable-energy-113000436.html
http://finance.yahoo.com/news/ener-core-provides-commercial-progress-113000265.html
http://finance.yahoo.com/news/ener-core-featured-four-publications-113000839.html
http://finance.yahoo.com/news/ener-core-selected-present-cleanequity-153600925.html
http://finance.yahoo.com/news/ener-core-wins-2014-economy-130000274.html
http://finance.yahoo.com/news/pacific-ethanol-stockton-plant-install-133000134.html
http://finance.yahoo.com/news/ener-core-provides-shareholder-video-130000831.html
http://finance.yahoo.com/news/ener-core-announces-entry-definitive-120000162.html
http://finance.yahoo.com/news/ener-core-signs-global-commercial-130000556.html
http://finance.yahoo.com/news/ener-core-completes-successful-initial-120000608.html
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