PowerVerde, Inc. Enters into a Letter of Intent with Keahole Solar Power LLC, a Hawaii-Based Company Utilizing Sopogy, Inc.'s MicroCSP Solar Technologies
May 20, 2009 12:23:00 PM
Copyright Business Wire 2009
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View Additional ProfilesPHOENIX--(BUSINESS WIRE)-- PowerVerde, Inc. (OTCBB: PWVI) ("PowerVerde"), a leading developer of thermal and pressure driven electrical power systems, today announced that it has entered into a letter of intent with Keahole Solar Power LLC ("KSP"), a Hawaii based renewable project and technology developer, under which PowerVerde will provide KSP a commercial-ready electrical power generation engine system and related accessories. This is a significant accomplishment for PowerVerde as it marks the first utility scale commercial installation demonstrating the company's continued commitment to reducing its costs and improving its efficiencies.
This system will be installed and used for demonstration and testing in KSP's 2MW solar thermal power generation facility at the Natural Energy Laboratory of Hawaii, or "NELHA," in Kona on the Big Island of Hawaii.
PowerVerde's President and co-founder George Konrad commented: "We believe that working with Keahole Solar Power in their state-of-the-art facility utilizing leading edge solar technologies such as MicroCSP collectors from Sopogy, Inc., will enable us to test our power systems in the most efficient and robust manner. This collaboration is validation that companies such as ours are positioned to commercialize thermal energy electrical generation and bridge the gap between zero carbon emissions and the traditional utility grid." Tal Ziv, managing director of Keahole Solar Power, stated: "Our expertise in technology commercialization as well as a renewable energy project developer should complement PowerVerde and their unique power systems well."
About PowerVerde
PowerVerde, Inc. (OTCBB: PWVI) manufactures advanced renewable power generator systems comprised of gas pressure and gas expansion motors. These systems operate without combustion or fossil fuel creating electrical power from any low grade heat source or adequate pressure forum. PowerVerde is an environmentally friendly green company producing zero emissions or waste byproducts. For more information, please visit our website www.PowerVerdesolar.com
About Keahole-Solar Power LLC
Keahole-Solar Power is a Hawaii-based developer utilizing different renewable technologies, including Sopogy, Inc.'s MicroCSP solar collectors, utility scale software controls, and unique thermal storage capabilities. KSP is developing new proprietary methods for energy storage, installation, operation and controls. KSP's combined approach of using sound technologies and solar farm solutions brings lower cost, longer production and higher efficiencies to its customers. KSP's goal is 30 megawatts of renewable energy for Hawaii by 2015. For more information, please visit www.keaholesolarpower.com
About Sopogy Inc.
Sopogy is a leader in MicroCSP technologies that bring the economics of proven large scale Concentrating Power Systems (CSP) to distributed generation markets. MicroCSP technologies are used to create Process Heat, Solar Air Conditioning or Electrical Power. For more information, please visit www.sopogy.com.
Source: PowerVerde, Inc.
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PowerVerde
Inc.
Phoenix
Rick Davis
305-271-3232
