MILFORD, OH--(Marketwire - March 30, 2010) - Steam Power LLC today announced that they have entered into an Agency Agreement with Siemens Energy Inc. for its line of industrial gas turbines used in the cogeneration of electrical power for large-scale industrial applications. As a result of the agreement, Steam Power will represent Siemens Energy Inc. throughout the Midwest, encompassing Ohio, Indiana, Kentucky, West Virginia, and parts of Illinois & Michigan. Siemens Energy Inc., based in Houston, is a wholly owned subsidiary of Siemens AG of Erlangen, Germany.
"Siemens is a world leader in the production and implementation of alternative energy solutions," said Mark Haglage, principal at Steam Power. "This new relationship represents a significant advancement in the scale of cogeneration solutions that we can now offer to the marketplace. To date, we have had a strong offering for smaller-scaled steam-based cogeneration solutions. Adding Siemens into the mix enables us to deliver large-scale gas turbine solutions to heavy industry, institutional customers, and developers of combined heat and power projects."
"We see tremendous growth opportunities in on-site power production," stated Steam Power principal Ed Stoermer. "The evolution of technology, new regulations and significant incentives provided by the utility companies are making combined heat and power as well as cogeneration solutions an attractive investment for our clients."
In an effort to avoid construction of large and expensive coal or nuclear power plants, or adding power distribution lines, utilities companies and State governments are offering substantial incentives to encourage power-saving and efficiency-improvement projects to move forward. Such solutions can also provide a higher level of confidence in the supply of power, more control on energy costs, and environmentally sound energy generation.
"The thermal efficiency of coal-fired electricity sources can be as low as 30%," added Stoermer. "By implementing an on-site cogeneration solution, industrial or institutional energy users can significantly increase their overall electrical supply efficiency to greater than 80%, and up to 90% if thermally driven chillers (adsorptive cooling) are employed, and realize substantial savings to their bottom line."
ABOUT STEAM POWER
Steam Power LLC is focused on improving the operating efficiency of industrial and institutional energy users through the implementation of on-site cogeneration solutions. Based in Milford, Ohio, Steam Power principals Ed Stoermer and Mark Haglage have over 50 years of combined experience in the industrial power and process marketplace. Further information is available at: www.stmpwr.com.
The Siemens Energy Sector is the world's leading supplier of a complete spectrum of products, services and solutions for the generation, transmission and distribution of power. Further information is available at: www.siemens.com/energy.
Contact Information:
Media Contact: Chris Komnick, Email Contact, 859-803-3463