ST. AUGUSTINE, Fla.--(BUSINESS WIRE)--NTE Hybrid announced today that it is seeking a joint venture/license partner for the full commercial implementation of its patented hybrid generation technology, which offers a lowest cost, baseload renewable energy option.
NTE Energy and Energy Investors Funds launched NTE Hybrid in 2010. Since then, NTE Hybrid has developed multiple hybrid renewable applications and received a patent for its hybrid renewable process in April 2012.
NTE Hybrid is now seeking a strategic partner to help commercialize and integrate its technology into domestic and international markets. Seth Shortlidge, CEO of NTE Hybrid, explains: “NTE Hybrid has made some amazing strides over the last several years in developing one of the world’s lowest cost and most reliable renewable technologies. Our team is proud of how far we’ve been able to advance this hybrid technology and we look forward to finding the right partner to help us fully deploy it.”
Lucas Missong, Vice President at Energy Investors Funds adds, “This partnership will create great opportunities for the future generation of renewable energy, both domestically and internationally – from efficiencies created in plant operations to significant environmental benefits.”
NTE Hybrid's patented process integrates two proven technologies – renewable steam and fossil-fuel thermal generation – into a single efficient hybrid cycle. This hybrid cycle provides significant capital and operational savings through the use of common major equipment and systems and provides considerable energy efficiency improvements versus stand-alone renewable options.
For more information about NTE Hybrid and its hybrid technology, including a detailed information memorandum, please contact NTE Hybrid.
About NTE Energy
NTE Energy, through its subsidiaries NTE Hybrid and NTE Solutions, provides a wide range of services nationally and internationally to the power, water and oil & gas industries. Headquartered in St. Augustine, Florida, NTE Energy has been a leader in the development of commercially viable hybrid renewable energy technology. 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. For more information, visit www.ntesolutions.com and www.ntehybrid.com.
About Energy Investors Funds (EIF)
EIF was founded in 1987 as one of the first private equity fund managers 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. EIF has raised over $5 billion in equity capital (including $500M in co-investments) and currently manages multiple private equity funds from its offices in Boston, New York, and San Francisco. These funds have made over 100 diversified investments with an underlying asset value greater than $15 billion. EIF-managed funds own approximately 4,000 MW of capacity in operation and under construction and an additional 6,000 MW in various stages of development. EIF closed on its latest fund, EIF United States Power Fund IV, L.P., in October 2011, with $1.713 billion in capital commitments. For more information, visit www.eif.com.