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NTE Energy Files Patent Request for Expansion of Its Hybrid Renewable Energy Technology
Wednesday, December 01, 2010
Proprietary Process Promises to Produce Clean, Cost-Effective Power
St. Augustine, FL -- NTE Energy and its joint-venture partner, Energy Investors Funds (“EIF”), today filed a second patent application in the United States Patent & Trademark Office for expansion of its proprietary hybrid renewable energy technology.
This latest filing, following an earlier March 31, 2010 filing, greatly enhances the efficiency and versatility of the companies’ hybrid renewable energy technology, which generates electricity by simultaneously combining a hybrid renewable energy cycle with a traditional power plant.
“These advancements to our technology allow us to significantly boost the efficiency of the hybrid renewable power plant, while increasing the range of applications where our hybrid technology can be used,” said Seth Shortlidge, President of NTE Energy said. “We are extremely excited to continue to improve our technology and use our hybrid renewable energy system to provide a source of clean, cost-effective renewable energy.”
NTE Energy plans to use the new technology, developed by Shortlidge and Greg Cahill of Trimont Engineering, in the development, construction and operation of new hybrid renewable power generation facilities to be located throughout the United States.
About NTE Energy
NTE Energy, LLC, in partnership with Energy Investor Funds (EIF), is focused on developing hybrid energy projects in the United States. NTE Energy is a leader in the development of commercially viable renewable energy technology. Hybrid renewable energy combines different types of renewable energy, such as solar, biomass and other technologies, with traditional energy technologies in power generation plant to provide sustainable sources of clean electricity at a lower cost to customers than traditional renewable energy resources alone. For more information, visit www.nteenergy.com.
EIF was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry. Its consistent, proven investment strategy is to create geographically and technologically diversified portfolios of electric power-related assets that provide superior risk-adjusted equity returns with current cash flow and capital appreciation. As an investment manager, EIF seeks to mitigate commodity risk (fuel and electricity) by focusing primarily on acquiring power assets with long –term off-take contracts. EIF has mobilized over $4 billion in capital raised in seven funds, and currently manages four private equity funds from its offices in Boston, New York, and San Francisco. These funds have made over 100 diversified investments which have an underlying asset value greater than $15 billion. EIF controls 4,000 MW of operating power assets with another 2,200 MW of power assets under development of construction. For more information, visit www.eif.com.
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