NTE Energy Applies for Patent for Expansion of Its Hybrid Renewable Energy Technology Portfolio

ST. AUGUSTINE, Fla.--(BUSINESS WIRE)--NTE Energy and its joint-venture partner, Energy Investors Funds (“EIF”), filed a patent application with the United States Patent & Trademark Office today covering an expansion of its patented hybrid renewable energy technology. For more information, please visit www.nteenergy.com and www.eif.com.

“The alternative to co-firing offered by our new technology significantly expands the number of facilities that can benefit from the capital and operating efficiencies of NTE Energy’s hybrid power generation solutions.”

Following the award of their first patent US 8,161,724 issued on April 24, 2012, NTE Energy has continued to improve the efficiency and versatility of the company’s hybrid renewable energy technology. NTE Energy’s newest patent application introduces an innovative process where the steam output from a biomass boiler is fed to feedwater heaters on traditional steam plants, typically coal, oil or natural gas fired, replacing steam typically provided through steam turbine extractions. This reduction in steam turbine extractions allows more steam to flow through the steam turbine, generating additional, and renewable, electrical power.

“We avoid the operational challenges of co-firing biomass in a traditional fossil fueled boiler as well as address the constraints of integrating biomass-generated energy into a utility’s system on an economic scale,” said Alan Smithe, VP of Engineering at NTE Energy. “The alternative to co-firing offered by our new technology significantly expands the number of facilities that can benefit from the capital and operating efficiencies of NTE Energy’s hybrid power generation solutions.”

“NTE Energy’s commitment to building a sustainable future is demonstrated by our continued efforts to advance biomass generated power at the lowest possible cost,” added Seth Shortlidge, President of NTE Energy. “We’re pleased that NTE Energy has filed for this latest patent with the United States Patent & Trademark Office,” said Lucas Missong, Vice President at EIF. “Their pursuit of renewable energy technology makes NTE Energy a leading provider of reliable, low cost, high efficiency power production solutions.”

NTE Energy plans to use the new technology in the licensing, development, construction and operation of hybrid renewable power generation facilities to be located throughout the United States and internationally.

About NTE Energy

NTE Energy is focused on developing and/or licensing hybrid energy projects in the United States and internationally. Located in St. Augustine, Florida, the nation’s oldest city, NTE Energy has been a leader in the development of commercially viable hybrid renewable energy technology since 2009. The NTE Energy team has expertise in marketing, development, engineering, legal and regulatory affairs, with executive staff previously holding leadership roles in major energy, legal, and construction/engineering firms.

About Energy Investors Funds

EIF was founded in 1987 as the first private equity fund manager dedicated exclusively to the independent power and electric utility industry. Its consistent, proven investment strategy is to create geographically and technologically diversified portfolios of electric power-related assets that provide superior risk-adjusted equity returns with current cash flow and capital appreciation. As an investment manager, EIF seeks to mitigate commodity risk (fuel and electricity) by focusing primarily on acquiring power assets with long-term off-take contracts. EIF has mobilized over $4 billion in capital raised in eight funds, and currently manages five private equity funds from its offices in Boston, New York, and San Francisco. These funds have made over 100 diversified investments that have an underlying asset value greater than $15 billion. EIF has over 3,675 MW of capacity in operation and under construction, as well as an additional 2,875 MW under development. EIF closed on its latest private equity fund, EIF United States Power Fund IV, L.P. in October 2011, with $1.713 billion in capital commitments.