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Saturday, January 05, 2019 6:11:27 AM
Investor presentation June 2018: https://www.otcmarkets.com/filing/html?id=12821959&guid=-Vc8Up5FeAkaZ3h
We are entering the CHP market, which is highly competitive and historically conservative in its acceptance of new technologies. To date, we have sold and delivered one 250 kW commercial Powerstation unit to the Netherlands and have sold one additional 250 kW Powerstation unit to a landfill site in Southern California. We also sold two 2 MW Power Oxidizers to Dresser-Rand in October 2016, which were delivered to a Stockton, California biorefinery site owned by Pacific Ethanol and placed into commercial operation in January 2018. These three systems represent our $2.9 million order backlog as of November 19, 2018. To date, we have billed and collected $2.8 million of our existing backlog. To date, full commissioning has not occurred for the two Pacific Ethanol systems due to site specific items unrelated to our portion of the larger Pacific Ethanol project. The two systems have operated in excess of 1,000 hours to date.
Between March and September 2018, the site-specific items and issues with respect to the two Pacific Ethanol systems were substantially resolved. The units were recommissioned in October 2018 and are available for full operations as of November 15, 2018. Additional automation and controls testing is required before the units are considered to be fully automated commissioned and recognizable for revenues by us, which we currently expect to occur in late 2018 or early 2019.
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