Oct 8 2010
GE, has declared the take over of Calnetix Power Solutions (CPS) a Florida headquartered company engaged in the development of modest scale power projects that utilize waste heat for power production. World over a number of companies are engaged in the process of retrieving the generated heat during a manufacturing process and utilize the heat energy for producing electric power and to reduce the release of carbon dioxide.
The technology provided by CPS allows the use of waste heat produced from various sources such as running engines, gas turbines and biomass boilers. CPS will be merged with the Jenbacher gas engine business of GE located in Jenbach Austria. GE has chosen the location to cover the growing demand for small scale heat to energy business concentrated in Europe. GE along with the acquisition of CPS also has received confidential information related to intellectual property matters from Calnetix Inc a company that owned CPS. The gained intellectual property rights along with the engineering and marketing capabilities of Jenbacher will allow GE to offer total heat recovery solutions from waste energy.
Steve Bolze, GE Power and Water’s President and CEO, said that the energy sources such as waste heat to energy are gaining importance due to resource limitations. He added that the acquisition of CPS has allowed GE an easy entry into the growing small scale waste heat power generating sector and his company is looking forward to provide a total commercial product with marketing potential. He further said that the zero emission making heat to energy sector offers nearly $1 billion worth opportunity world wide with high level of growth prospects. Prady Iyyanki, GE Power and Water’s CEO for Gas Engines said that the technology provided by CPS aptly suits the business of GE. He added that the inclusion of CPS’s potential with the collection of GE’s turbines and engines that use other type of energy sources and waste gases will make the company an expert in the waste heat power market.