WASHINGTON--(EON: Enhanced Online News)--Nostrum Energy, a technology company that creates breakthrough fuel efficiency improvements for stationary and automotive power, today announced that it has been named the winner of the inaugural Securing America’s Future Energy (SAFE) Energy Security Prize Emerging Innovation Award. The company’s innovative Nostrum Cycle™ received the distinction at the 2013 OPEC Oil Embargo +40: A National Summit on Energy Security, which took place on October 16 in Washington, D.C.
“We are deeply honored that SAFE has bestowed the Emerging Innovation Award to Nostrum Energy, and will continue our unwavering commitment to reducing U.S. oil dependence and cultivating new technologies that drive energy efficiencies”
Nostrum Energy technologies generate significant efficiency improvements in the Internal Combustion (IC) engine. These new IC technologies were recognized as defining innovations to advance American energy security by helping to reduce U.S. oil dependence. In today’s automotive engines, only 13 percent of the energy generated by the gasoline reaches the wheels. Most of the energy is wasted in thermal losses through the exhaust and the radiator. The Nostrum Cycle™ is a combined cycle, which uses combustion of fuel to heat the incoming air and convert injected water into steam to power the engine. It is expected to triple the tank to wheel efficiency.
As part of this new line of products designed to increase efficiencies, Nostrum Energy is also developing a redesigned fuel injector, which will lead to a 20 percent improvement in fuel efficiency for most IC engines. This injector can be installed in new and existing cars, which will substantially reduce the millions of gallons of gasoline consumed annually.
Application of Nostrum Energy’s products, including the redesigned fuel injector and Nostrum Cycle™, to the existing gasoline and diesel fleets and to new gasoline vehicles, can save up to 638 million gallons per year by 2020, just with improvement achieved by the injector.
“We are deeply honored that SAFE has bestowed the Emerging Innovation Award to Nostrum Energy, and will continue our unwavering commitment to reducing U.S. oil dependence and cultivating new technologies that drive energy efficiencies,” said Kaushik Vyas, CEO of Nostrum Power. “The level of energy that is wasted by the more than 296 million vehicles on the road today is completely unacceptable. It exacerbates our energy dependence and contributes to increased carbon emissions. We are ready to put an end to it now.”
Of the more than 20 companies that submitted for the Emerging Innovation Award, six semi-finalists were selected to present their technologies during the competition. From there, three finalists were invited to present their emerging innovations in timed presentations at the summit. The winner was announced at the conclusion of the summit. The SAFE Energy Security Prize is divided into two categories: the Advanced Technology Award, for in-market advanced technologies that reduce oil consumption in the U.S., and the Emerging Innovation Award, which recognizes technologies that are expected to be for sale in the marketplace within five years.
The redesigned Nostrum Energy fuel injectors and Nostrum Cycle™ will significantly contribute to the Obama Administration’s policy mandate of ensuring that light duty passenger vehicles achieve 54.5 miles per gallon by 2025.
About Securing America’s Future Energy (SAFE)
Securing America’s Future Energy (SAFE) is a nonpartisan organization that aims to reduce America’s dependence on oil and improve U.S. energy security to bolster national security and strengthen the economy. SAFE advocates for expanded domestic production of U.S. oil and gas resources, continued improvements in fuel efficiency, and in the long-term, breaking oil’s stranglehold on the transportation sector through alternatives like natural gas for heavy-duty trucks and plug-in electric vehicles. In 2006, SAFE joined with General P.X. Kelley (Ret.), 28th Commandant of the U.S. Marine Corps, and Frederick W. Smith, Chairman, President, and CEO of FedEx Corporation, to form the Energy Security Leadership Council (ESLC), a group of business and former military leaders committed to reducing U.S. oil dependence.
About Nostrum Energy
Nostrum Energy LLC (and its subsidiaries Nostrum Motors LLC and Nostrum Power LLC) is a wholly owned subsidiary of Nostrum Pharmaceuticals and was established in 2008 to develop and commercialize technologies that dramatically increase efficiency and reduce emissions in internal combustion engines. Nostrum Energy is currently engaged in the commercialization of the Nostrum Cycle™ and associated technologies in a number of diversified applications.