CoaLogix and Cormetech Collaborate to provide the Fossil Power Generation Industry with Improved Emissions Reduction Strategies
The Two Leading SCR Catalyst Service and Supply Companies Announce Agreement to Help Power Generation Plants Manage NOx Compliance more Effectively & Affordably.
- Durham, NC (1888PressRelease) November 30, 2010 - CoaLogix, Inc. and Cormetech, Inc. announced today that they have signed an agreement that combines their technical, service and marketing experience to provide innovative long-term emissions reduction solutions to fossil power plants. The agreement is effective immediately and both companies expect that by combining the best of their respective capabilities and resources, they will be recognized as the most capable and valued leaders in SCR management and catalyst supply.
The agreement allows Cormetech to provide certified regenerated catalyst in conjunction with its new catalyst to meet customer demands. Utilizing new and regenerated catalysts, the requirements of each customer may be optimized. SCR management is simplified while enhancing operating reliability and cost-effectiveness.
Cormetech, the world leader in new SCR catalyst solutions, engineers and produces all of its catalyst products in the USA. Headquartered in Durham, North Carolina, Cormetech operates manufacturing and comprehensive laboratory facilities in Durham and a state-of-the-art production plant in Cleveland, Tennessee. Cormetech services the power generation, petro-chemical, and industrial processing industries worldwide with emissions management solutions. Cormetech has supplied catalyst to over 1,100 SCR systems worldwide, controlling emissions in well over 100,000MW of power generating capacity. Customers count on Cormetech catalyst management services throughout the economic life of their plants.
CoaLogix, leader in SCR regeneration services for power generation, is headquartered in Charlotte, North Carolina. CoaLogix has proven that regenerated catalyst has performance equal to new, and can be available to meet tight schedules. CoaLogix has regenerated over 20,000 modules of catalyst, many during actual plant outages. In addition, CoaLogix has over 40,000 MW under contract for catalyst management services. CoaLogix' NOxAssure program currently consists of over 3,000 catalyst modules, representing about $30,000,000 of "new value" to coal-fired power plants.
Steve Suttle, CEO of Cormetech commented, "Cormetech is proud to partner with the leader in catalyst regeneration services. We are confident that the combined capabilities of CoaLogix and Cormetech will provide unique, efficient, and technically superior offerings to our valued customers. The expansion of Cormetech's capabilities to include the full lifecycle management of SCR systems supports our total service mission to provide the most advanced, cost-effective and reliable solutions to our customers."
According to Bill McMahon, CEO of CoaLogix, "We have partnered with the leading SCR catalyst manufacturer in the world which will provide the industry with more options and innovation than ever before. Our customers will be the true beneficiaries of this collaboration; in a tougher environment for environmental compliance, both companies decided that business as usual does not cut it. We have to collaborate to bring the best technology and innovation resulting in the lowest operating cost to our customers."
Robert McIlvaine, Owner of The McIlvaine Company who is one of the leading market experts in Power and Environmental markets commented, "SCR catalyst and regeneration continue to be fast growing markets worldwide. The collaboration of the two respective world leaders is very interesting in that it could result in lower long term cost of operations for utilities and a whole new approach to managing SCR's and NOx for the utility market."
Cormetech, formed in 1989, is a joint equity company of two world-class industrial leaders: Corning, Incorporated and Mitsubishi Heavy Industries, Ltd., each contributing benchmark technologies for high performance emissions control. Cormetech SCR catalysts are selected for the most demanding systems for best-in-class quality, performance and cost effectiveness. Cormetech's homogeneous honeycomb, titania-based ceramic catalysts are integral to high performing SCR technology, with proven control solutions for nitrogen oxides (NOx), sulfur oxides (SOx), mercury (Hg) and ammonia (NH3).
Cormetech sales and service offices are located in Durham, NC USA, Wiesbaden, Germany and Beijing China.
CoaLogix Inc. is focused on providing innovative services to coal-fired generating facilities to reduce their environmental footprint through technology, optimization and efficiency improvements. CoaLogix owns SCR-Tech, LLC which is the leading provider of selective catalytic reduction (SCR) management services and catalyst regeneration technologies used by coal-fired power plants to reduce nitrogen oxides (NOx) emissions. Currently, coal-fired power plants contain approximately $1.5 billion of catalyst in their SCR systems. CoaLogix integrates leading-edge technologies, a highly skilled workforce, and more than 160 years of combined senior management experience in the environmental and power generation industries to provide innovative, cost-effective solutions that help our customers achieve and maintain compliance with increasingly stringent environmental regulations. CoaLogix major investors are Acorn Energy, Inc. (Nasdaq: ACFN) and EnerTech Capital.
Safe Harbor Statement
This press release includes forward-looking statements, which are subject to risks and uncertainties. These risks and uncertainties include competition in the market for catalyst and regeneration and possible adverse changes in governmental regulations affecting utilities' need for catalyst. For disclosure of additional risks and uncertainties which may affect CoaLogix' business and prospects and Acorn Energy, Inc.'s business generally, see the information under "Risk Factors" in Acorn Energy's most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K as filed with the Securities and Exchange Commission.
For more information about CoaLogix, call (704) 827-8933, or email us info ( @ ) CoaLogix dot com dot Alternatively, visit www dot CoaLogix dot com
Director of Marketing & Sales
rs ( @ ) coalogix dot com
Director, Contracts and Services
stephensonnd ( @ ) cormetech dot com