ST. AUGUSTINE, Fla.--(EON: Enhanced Online News)--NTE Hybrid has secured a third set of patent claims by the United States Patent & Trademark Office. NTE Hybrid, the hybrid renewable energy technology joint venture between NTE Energy and United States Power Fund III, L.P., a private equity fund managed by Energy Investors Funds (EIF), continues to expand its portfolio of intellectual property related to its hybrid technology.
“The team has worked extremely hard on securing the many pieces of our intellectual property, and we couldn’t be happier about this latest award.”
The patent broadens the scope of NTE Hybrid’s proprietary hybrid technology portfolio, significantly expanding the coverage of hybrid power generation applications using a combination of renewable and non-renewable fuel sources.
“NTE Hybrid’s newest patent allows us to expand even further into the market for applying our hybrid technology,” said Seth Shortlidge, CEO of NTE Energy. “The team has worked extremely hard on securing the many pieces of our intellectual property, and we couldn’t be happier about this latest award.”
NTE Hybrid’s patented process combines two proven technologies: steam produced from the processing of a biomass fuel source is combined with steam produced from the processing of natural gas or fossil fuel and routed through a steam turbine generator to produce electrical energy. This most recent patent identifies additional steam paths for combining steam generated from renewable and non-renewable sources that may boost efficiencies and outputs, as well as opening the door to new retrofit applications.
Following the award of its first patent issued on April 24, 2012 and its second patent issued on July 30, 2013, NTE Hybrid has continued to develop and improve the efficiency, applicability and versatility of the company’s hybrid renewable energy technology to expand its application throughout the power industry. NTE Hybrid intends to license the use of its hybrid technology for the development and construction of hybrid renewable power generation facilities to be located throughout the United States and internationally.
“NTE Hybrid was formed in 2010 with the goal of creating one of the world’s lowest cost and most reliable renewable energy technologies,” said Lucas Missong, Senior Vice President at EIF. “We’ve made amazing progress, and we look forward to applying this technology to facilities around the globe.”
NTE Hybrid is currently in the process of selecting one or more partners to license and fully commercialize its hybrid technology and plans to name the first of these licensees in the near future.
For more information on NTE Hybrid’s patented hybrid technology, please visit www.ntehybrid.com.
About NTE Energy
Headquartered in St. Augustine, FL and founded in 2009, NTE Energy is the parent company of NTE Solutions, NTE Development and NTE Hybrid.
NTE Solutions is an energy and infrastructure services provider. The 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. NTE Solutions’ project teams work collaboratively across disciplines to provide high-value solutions to clients in the power, water and oil & gas industries.
NTE Development is an independent development company focused on development, construction and operation of conventional electric generation and transmission projects across North America.
NTE Hybrid has developed and patented hybrid technology that integrates proven combustion and steam generating technologies into a single, efficient, hybrid renewable power generation facility.
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.