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International Power Group completes acquisition of patented technologies from Swedish companies

Saudi Arabia: Saturday, October 07 - 2006 @ 13:20

These technologies, which include AddPower, a low temp turbine (LTT), and ScrubPower, a special emission-to-energy system, were acquired through a $2 million asset purchase agreement with three Swedish entities: Anovo AB, Angelholm, AddPower AB, Angelholm, and SUPE Ltd.

“These acquisitions represent a major milestone for IPWG. With the increasing need for alternative forms of energy, we are excited to have a technology that we can offer to other companies in the energy space, that can help them increase their output of clean electricity. We also look forward to using these technologies to increase the efficiency of our future waste-to-energy facilities,” said Peter Toscano, IPWG President and CEO. “We believe our acquisitions will allow IPWG to convert greater quantities of heat, produced from boilers and turbines, and potentially increase the output of salable electricity by 20 to 30% or more over technologies that are currently available.”

The LTT technology will provide IPWG with an extremely efficient “low-temp turbine” which is powered by a proprietary fluid to drive the turbine and produce electricity at approximately 200(degree)F, whereas most conventional boilers and turbines can only produce electricity at temperatures between 600(degree)- 800(degree)F. AddPower LTT units can be applied to many alternative energy generation facilities, such as solar, thermal, geothermal, biomass conversion, and co-generation facilities, and can increase the efficiency of existing conventional oil, gas and coal-fired power plants. As Mr. Toscano further explained, “The patented ScrubPower technology is designed to scrub away virtually all airborne pollutants to well below the allowable emission standards of most countries, while also generating valuable electricity.”

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Saturday, October 7- 2006 @ 13:20 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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