NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) -- PwrCor, Inc. (OTCQB:PWCO), an advanced technology company focusing on clean, renewable energy solutions for the Waste-Heat-to-Power, Geothermal, and Solar Thermal markets, is working with data center cooling industry and academic leaders to demonstrate that the wasted ultra-low-grade heat generated from data center electronics can now be converted into electricity using PwrCor’s proprietary engine technology.
Data centers house servers and similar equipment that use enormous amounts of electricity.
In the process of powering the performance of the equipment, that electricity is subsequently transformed into large amounts of low-grade heat. In fact, more than 98 percent of electricity used to power the electronic equipment in data centers is shed as wasted low-grade heat energy. Furthermore, additional electricity is required to cool the data center electronics to keep the equipment operating safely and at optimal performance.
Data centers now consume over 3 percent of total global electricity production – and this consumption is expected to double every four years. Utilities are struggling to keep up with demand and data centers often find themselves without adequate power for expansion.
Management believes its PwrCor technology is uniquely positioned to transform data center waste heat into useful electricity, thereby reducing demand for grid-provided electricity while also reducing the electricity needed for data center cooling. The market is huge.
Data center power consumption in the U.S. alone is expected to increase to 140 billion kilowatt hours within a year’s time. The data center power market is growing at 6.9 percent CAGR and is expected to reach $10.8 billion by 2025. By converting a portion of the heat generated within data centers into electricity, the PwrCor technology can bend this growth curve, delivering substantial savings to data center operators.
The demand for equipment to cool data centers is also growing rapidly, simply by virtue of the growth in the number and size of data centers. Moreover, the market is also trending to the use of denser and faster chips to support High Performance Computing (HPC), Artificial Intelligence (AI), Edge Computing, Streaming Graphics, and the Internet of Things (IoT). In other words, data centers will be generating even more heat. The market for data center cooling equipment is expected to top $20.7 billion by 2025, with a CAGR of 13.5 percent. By extracting a portion of the heat being generated in the data centers, the PwrCor technology can also bend this growth curve, substantially reducing the need for both the cooling equipment and the power needed to operate it.
PwrCor is collaborating with data center cooling industry leaders to integrate their state-of-the art heat extraction technology with PwrCor’s ground breaking heat-to-power conversion technology, to offer unprecedented electricity savings to the power hungry data center industry.
Dr. Aaron Wemhoff, Villanova site director for the NSF-sponsored Industry/University Cooperative Research Center (I/UCRC) in Energy-Smart Electronic Systems (ES2), an industry-university consortium that focuses on advancing the energy efficiency of data centers, agrees that the technology can have impact. “The utilization of low-grade waste heat for applications beyond facility heating is one of the focus areas for our center, and we believe that advanced waste heat recovery is one key element of future generations of data centers.” ES2’s focus in waste heat recovery includes power generation via various technologies or refrigeration via absorption chillers.
As Jack Kolar, Vice President of Mission Critical Products for TAS, a major data center cooling company, noted, “There are enormous quantities of heat being generated in data centers and simply wasted. Converting that heat into useful electric power is the holy grail for achieving greater energy efficiency in data centers. PwrCor’s technology combined with TAS’s expertise in two-phase liquid immersion heat extraction should create an unprecedented opportunity for the industry. We are very excited to be working with PwrCor on this truly innovative initiative.”
Tom Telegades, CEO of PwrCor, stated, “PwrCor is now uniquely positioned to improve the energy efficiency of data centers, which represents a multi-billion dollar industry for the Company. Through collaboration with the data center cooling industry and our academic colleagues we are substantially advancing our strategic initiative to work with data center developers and owners to realize energy savings that impact their bottom line.”
PwrCor’s technology delivers the ability to reduce the overall cost of energy for power users. Low-grade and ultra-low-grade heat, which up until now could only be discarded and wasted, can be cost-effectively utilized to generate electrical power, providing cost savings and improving bottom line performance.
PwrCor is currently engaged with leading companies in such industries as fuel cells and reciprocating engines, and on additional project initiatives in geothermal, oil and gas, solar thermal, and data centers, all of which have enormous amounts of wasted ultra-low-grade heat that can now be converted to additional power, contributing to higher profits. Our technology cost-effectively converts heat to mechanical power or electricity, and represents a breakthrough for those businesses which can now profit from converting wasted heat into electrical power.
About the Technology
PwrCorTM engines use proprietary technology that can cost effectively convert ultra-low-grade heat to usable mechanical or electrical energy, opening up an immense market representing hundreds of gigawatts of potential power production. This is wasted energy that previously could not be economically harnessed as usable power by competing technologies. PwrCor's breakthrough technology can change the profile of how energy is created and consumed in markets around the globe, and can be used in place of or in conjunction with most existing technologies. PwrCorTM is a completely ‘green’ technology that uses no fossil fuels, does not operate via combustion, has no emissions, and does not process any working fluids that are flammable, harmful to the environment, or costly to replace. PwrCorTM is scalable, modular, and runs relatively silently, all within a small footprint.
About PwrCor, Inc.
PwrCor, Inc., is an advanced technology company that specializes in renewable energy, offering advanced cleantech solutions for the Waste-Heat-to-Power, Geothermal, and Solar Thermal markets, as well as other applicable markets. PwrCor is also focused on energy infrastructure development projects and delivering cleantech energy solutions to commercial and not-for-profit customers. Please visit www.pwrcor.com for additional information.
Safe Harbor Forward-Looking Statement
With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve unknown risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to raise sufficient financing to implement its growth strategy, and its ability to successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent reports on Forms 10-K, 10-Q, 8-K, Schedule 14A and other filings made with the SEC. Copies of these reports are available from the SEC's website, www.sec.gov, or without charge from the Company. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.
Company Contact:
Thomas Telegades, CEO
212-796-4097
ttelegades@pwrcor.com
Source: PwrCor, Inc.