NEW YORK, May 01, 2018 (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, announces that it has successfully launched its breakthrough heat conversion engine technology at Surprise Valley Hot Springs in Modoc County, California. This represents an historic step for geothermal energy in California.
The engine is the first of its kind using the Company's proprietary technology, designed and constructed by PwrCor’s team and the Southwest Research Institute in San Antonio, TX, and funded by the California Energy Commission and project participants. The state-of-the-art engine had successfully passed a rigorous testing regimen prior to being shipped to California. The Surprise Valley geothermal installation is a prime example of executing the Company's strategy to apply its exclusive PwrCorTM technology to strategic markets. In this instance, the engine operates using the ultra-low-grade heat from a geothermal hot spring and converts that heat to clean, "green" electrical power.
PwrCor’s technology delivers the ability to reduce the overall cost of energy for power users. For the first time, 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 – something that could never have been accomplished before.
California has vast amounts of ultra-low-grade geothermal heat that previously could not be economically utilized for the generation of electricity. PwrCor’s technology has changed that, permitting the use of these resources for uninterrupted base-load power production. The Modoc County Record titled this recent article covering the installation, “Historic Day for Geothermal Energy Power in State”.
As noted in the article, the PwrCor installation made Modoc the sixth county in California to generate power from geothermal sources, but it was the first time ultra-low temperature (less than 200°F) geothermal water was used in this fashion. Onlookers described the sound of the engine operating as a “low hum”.
PwrCor is currently engaged in discussions with leading companies in such industries as fuel cells and reciprocating engines, and on additional project initiatives in 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. The technology cost-effectively converts ultra-low-grade heat to mechanical power or electricity, and represents a breakthrough for those businesses which can profit from converting wasted heat into electrical power.
As Tom Telegades, CEO of PwrCor, stated, “We are excited that PwrCor's proprietary new state-of-the-art technology promises to change the energy profile of entire industries.”
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 almost all 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 our website at 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.