ONTARIO, Calif., Feb. 16, 2006 (PRIMEZONE) -- Energy and Power Solutions, Inc., an energy solutions company, today announced that it successfully completed the development, installation and startup of a 260 kW cogeneration plant for Qycell Corporation, a foam manufacturing plant in Ontario, California. Qycell Corporation is dedicated to producing and selling a full line of cross-linked polyethylene foam materials including chemical cross-link, irradiated cross-link, micro-cellular bun, and related products to distributors, fabricators, and industrial end-users throughout North America. Energy and Power Solutions, Inc. (EPS) provides financially integrated energy solutions for its customers throughout the country.
Staffan Akerstrom, Chief Technical Officer, noted that EPS has created sound alternatives for customers to reduce their exposure to energy costs and risk profile, as it continues to provide basic energy solution services: "Qycell is an excellent example where the customer seized the benefits of generating electricity on-site while improving its chilled water supply alternatives through a cogeneration application. This project uses the waste heat from the engine through a 60 ton absorption chiller to provide chilled water for the foam manufacturing process. We're also working with customers using renewable energy sources where the same or better economics prevail."
Grant Kesler, Chief Executive Officer of Qycell Corporation, viewed this project as a creative financial opportunity for Qycell to hedge its position relative to energy prices while improving process equipment reliability. He stated, "We believed that electricity prices were headed higher over the long term and by choosing to implement this project, we could limit our exposure to those increases. EPS demonstrated that the state funding available for distributed generation projects like this and the additional capital we were planning to invest for chilled water improvements made the project an easy financial decision. We're very pleased with the quality of the final solution, equipment and workmanship performed by the EPS team."
EPS delivers financially compelling solutions to complex energy and power issues blending technology, capital, and operational requirements together to enable customers to manage their energy use wisely. The company has ownership interests in multiple energy projects in the United States and provides consulting and design build energy services nationally from its offices in Southern and Northern California and Dallas, Texas.
To learn more about Energy and Power Solutions, Inc., please visit www.energynpower.com.