Specifically, the funding will be used for the procurement of Rentricity's patented Flow-to-Wire(SM) system and its installation onto pressure reduction valves (PRVs) at one of Aquarion's underground vaults in Southwest Connecticut. It marks the first time such a technology has received financial aid from the CCEF.
"We are pleased to support an innovative clean energy technology as CCEF's goal is to promote and develop these technologies in Connecticut. Technologies like that of Rentricity, which can be deployed throughout the State will have positive economic and environmental benefits to the residents of our State," said Lise Dondy, chief operating officer of the Connecticut Clean Energy Fund.
Individually, the company's Flow-to-Wire system will have an average capacity of 35 kilowatts which will generate about 307 thousand kilowatt hours per year. This is equivalent to about forty average residential homes in Connecticut. With multiple installations throughout the state it has the potential to result in two to three megawatts of installed capacity. The Connecticut Department of Public Utility Control has ruled Rentricity's Flow-to-Wire(SM) system as a Class I renewable energy source.
"Water utility CEO's should understand they can generate a new revenue stream from their water assets and apply that new revenue to infrastructure upgrades and security enhancements," Frank Zammataro, president and co-founder of Rentricity.
Zammataro will be presenting at the E4 Conference & Exposition in Saratoga Springs, NY on October 13 and will be featured at Energy Venture Fair V in San Jose, CA in November.
Rentricity, Inc. (www.rentricity.com) is an early-stage Delaware corporation founded in 2003. Other benefits the company provides its water utility partners include real-time system performance data and assistance maximizing operational efficiencies and security.
By investing in technology, creating supply, and educating consumers to demand clean energy, the Connecticut Clean Energy Fund strengthens Connecticut's economy, protects community health, improves the environment and promotes America's energy independence. The Fund, (www.ctcleanenergy.com) is administered by Connecticut Innovations.