PwrCor Accelerates Commercialization of its Groundbreaking Heat-to-Power Technology
NYC Investment Banking Firm Engaged to Pursue Strategic Partnerships and Joint Ventures
NEW YORK, Feb. 05, 2020 (GLOBE NEWSWIRE) -- PwrCor, Inc. (OTCQB:PWCO) (“PwrCor” or the “Company”) announced that it has initiated a multi-pronged plan to commercialize its proprietary heat-to-power technology to capitalize on unprecedented market opportunities. As part of that plan, PwrCor has engaged a New York investment bank that assigned a team of bankers representing over 40 years of cumulative experience and over $200 billion in combined transaction value focused in the energy and industrial sectors.
In order to move expeditiously into its target markets, PwrCor will pursue industry partners with leading positions in the data center, geothermal, oil & gas, and fuel cell markets, where they can deliver more and better solutions to their customer base with PwrCor technology, while leveraging marketing and sales for the Company. Of particular value would be those partners that can integrate PwrCor technology with their respective products to achieve competitive advantage and market dominance. The Company will seek these strategic industrial partners to jointly develop unique value propositions for potential customers.
A prime example of a targeted market is the data center power and cooling sector, which offer unique opportunities that typify PwrCor’s strategy to target untapped expanding markets where PwrCor’s technology can positively impact bottom line performance.
Data centers now consume over 3 percent of total global electricity production, and consumption is expected to double every four years. Data center power consumption in the U.S. alone is expected to increase to 140 billion kilowatt hours within a year’s time. Utilities are struggling to keep up with demand, and data centers often find themselves without adequate power for expansion. In the process of powering the performance of servers and related equipment, electricity is subsequently transformed into large amounts of low-grade heat. In fact, more than 98 percent of electricity consumed 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.
The demand for adequate 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 essence, data centers will be generating even more heat demanding specific cooling technology.
PwrCor is uniquely positioned to convert the heat absorbed by state-of-the art cooling technologies into clean green power thereby reducing carbon footprint and the demand placed on utilities to provide power. This results in reducing a data center’s Power Usage Effectiveness (PUE), a key data center efficiency ratio, and significant cost savings that positively impact a data center’s bottom line.
The Company is currently engaged in two initiatives to advance commercialization in the data center market, namely;
- Collaborating with semi-conductor liquid cooling technology providers to generate power from wasted heat in data centers
- Participating as a key subcontractor in a U.S. government sponsored research proposal that will quantify the benefit of utilizing PwrCor’s technology in converting waste heat from data centers to power.
PwrCor also continues to work with prospective partners in both the geothermal, oil & gas, and fuel cell industries including:
- A project demonstrating power production using geothermally heated co-produced fluids in oil fields of a North American oil and gas producer.
- Pursuing pilot project with industry leading fuel cell manufacturers to generate additional power from wasted heat generated in a fuel cell.
PwrCor’s Chief Executive Officer, Tom Telegades commented, “PwrCor now commercializes the energy technology breakthrough that industry has been waiting for. There has never been a more opportune time to advance the commercialization of our unique power generation systems. There is rapid growth in the data center industry, with its massive energy consumption, which has increased sensitivity to its associated carbon footprint, as well as regulatory mandates such as New York State’s ‘Climate and Community Protection Act’, among other trends. This is generating strong interest in energy efficiency solutions, particularly our ultra-low-grade temperature heat-to-power technology.”
About the PwrCor™ Technology
PwrCor™ engines use proprietary technology that can cost effectively convert ultra-low-grade heat into 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. PwrCor™ 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. PwrCor™ is scalable, modular, and runs relatively silently, all within a small footprint. Patents protecting the technology have been filed for in 50 countries.
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 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, , 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
Source: PwrCor, Inc.
