Business
Ener-Core Receives $1.1 Million From the Dresser-Rand Business
Ener-Core Receives $1.1 Million From the Dresser-Rand Business.
About this update from Ener Core Inc
[{"type":"text","content":"\nEner-Core Receives $1.1 Million From the Dresser-Rand Business\n\nEner-Core Receives $1.1 Million From the Dresser-Rand Business\n\n\nSubstantial Progress Achieved on Integration Testing of 2 MW Power Oxidizer System With KG2 Gas Turbine\n\nIRVINE, CA--(Marketwired - September 26, 2016) - Ener-Core, Inc. (OTCQB: ENCR), a developer of innovative gas conversion technologies for global commercial and industrial facilities, and the Dresser-Rand business, part of Siemens Power and Gas Division, have achieved substantial integration of Ener-Core's 2 megawatt Power Oxidizer with the Dresser-Rand KG2 gas turbine. As a result, the Dresser-Rand business has released its previously agreed $1.1 million escrow payment to Ener-Core. The integrated product resulting from this effort will enable the Dresser-Rand business, as a licensor of Ener-Core's technology, to provide customers from a wide range of industries with a first-of-kind solution that can reduce air pollution by enabling industrial sites to convert their low-quality waste gases directly into useful clean power, heat and steam.The Ener-Core Power Oxidizer replaces traditional combustion chambers within gas turbines, and represents a significant new component within the integrated KG2 gas turbine. The Dresser-Rand business and Ener-Core engineering teams have worked collaboratively on this effort for 18 months and are nearing completion of an extensive testing regime that covers component-specific testing as well as a full integration test.The Power Oxidizer and all other system components from the KG2 gas turbine have surpassed some of the most challenging integration hurdles. The test system has performed very close to the required system specifications; the engineering teams from both companies have identified a few additional integration tasks that are expected to further improve the overall system performance. These remaining integration tasks are typical within the final testing phase of this sort of technology integration project and the teams expect to implement these remaining improvements before the end of the calendar year.As a result of this significant progress, the Dresser-Rand business has approved the release of $1.1 million from a joint escrow account to Ener-Core, for the completion of the integration tasks and commissioning of two units later this year at the si...