Open Energy Corporation Signs Agreement with Infinia To Develop a Suncone/Stirling Solar Electric Power System.The agreement combines Open Energy's solar concentrating technology with Infinia's proprietary free piston Stirling engine Stirling engine, an external combustion reciprocating engine having an enclosed working fluid that is alternately compressed and expanded to operate a piston, thus converting heat from a variety of sources into mechanical energy. to produce renewable energy Renewable energy utilizes natural resources such as sunlight, wind, tides and geothermal heat, which are naturally replenished. Renewable energy technologies range from solar power, wind power, and hydroelectricity to biomass and biofuels for transportation. SOLANA BEACH, Calif. -- Open Energy Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: OEGY), a renewable energy company focused on the design and manufacturing of solar energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. products, today announced that it has signed a joint development agreement with Infinia Corporation to integrate its products into a revolutionary power generation system. Infinia's free piston Stirling engines are currently used for aerospace and national security applications, where a high degree of reliability and long, maintenance-free service life is required. Operating without internal combustion, a Stirling engine utilizes high temperature differentials to drive a piston and produce electricity. The engineering teams at Infinia and Open Energy believes that the Suncone CSP (1) (Certified Systems Professional) An earlier award for successful completion of an ICCP examination in systems development. See ICCP. (2) (Commerce Service P solar concentrating power system can be modified to deliver over 700 degrees centigrade centigrade /cen·ti·grade/ (sen´ti-grad) having 100 gradations (steps or degrees); see under scale. cen·ti·grade adj. Celsius. of solar thermal energy Solar thermal energy is a technology for harnessing solar energy for practical applications from solar heating to electrical power generation. Solar thermal collectors, such as solar hot water panels, are commonly used to generate solar hot water for domestic and light industrial to Infinia's engine, thus generating electricity on a cost effective basis without burning fossil fuels or emitting green house gases. "We are very excited by the potential of this combined effort," stated David Saltman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Open Energy. "Infinia is already commercializing a 1 kW engine for residential heating and electricity in Asia and Europe. We will begin our product development utilizing a modified version of this engine to prove out the feasibility of the Suncone/Stirling system, before developing a larger version for distributed generation applications." J.D. Sitton, CEO of Infinia Corporation said, "We have already achieved solid results with a dish Stirling system at our facility in eastern Washington and have made significant progress on our larger engines. By working with Open Energy, we believe we can accelerate the development and commercial availability of these truly important and unique solar power generation systems. Our companies share a similar goal - to fundamentally change how the world generates and uses energy - and our engineering teams are hard at work to make this happen." About Open Energy Open Energy Corporation (OTC BB: OEGY) focuses on the development and commercialization of renewable energy products and technologies for a wide range of applications including electrical and thermal power production and water desalination. The Company purses these objectives through technology innovation, acquisitions, strategic partnerships and other business strategies. The company's mission is to enhance life by harnessing the power of the sun. About Infinia Corporation Infinia Corporation is a dynamic, employee owned energy technology company that has been successfully developing and delivering innovative Stirling generators and cyro-coolers since 1985. Infinia technology and relationships have the potential to dramatically change the way the world powers, heats and cools energy loads. At Infinia we believe we can improve the quality of life on our planet by changing how the world generates and utilizes energy. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for Forward Looking Statements Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, customer demand for its products, the Company's ability to scale up manufacturing to meet demand, and other factors over which Open Energy Corporation has little or no control. |
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