EPS Holdings Ltd. – A Technology Driven Turbine Engine Company
EPS Holdings Ltd. is a privately held, leading edge technology driven company that has developed a re-engineered and highly efficient turbine engine which will be deployed in the Distributed Energy (“DE”) market sector.
EPS has researched and completed initial development of a totally re-engineered, highly efficient, small size (1-5 MW) turbine engine generating primary power for the commercial, industrial and retail sectors for use in the DE market. EPS’s ground-breaking technology is the development of an advanced intercooled, recuperated (“ICR”) turbine engine, optimized for small power generation while utilizing waste heat to generate usable heating. This turbine engine is portable (only 15’ X 7’ X 8’) and light weight. It is designed to fit on a flatbed truck or inside a standard 20 ft. shipping container to be transported to where the fuel source is located or where the power is required.
The energy produced by one EPS turbine will generate enough electricity to power 500-700 homes, or an office complex, or a small educational facility, a hospital or a shopping mall.
After investing more than 7,400 man hours, EPS is now creating two products using the same core turbine engine technology. Using a high commonality of parts, one version will be a Multi-Fuel 1.6 MW turbine that will run on any form of liquid or gaseous fuel including natural gas, propane, methane gas, high sulphur sour gas, synthetic gas or even bio-diesel. The other model will be a 1.2 MW Solid Waste Biomass turbine that will operate on any form of solid waste biomass, such as wood chips, wood pellets, bagasse, animal/commercial waste or algae. The EPS Biomass technology has been identified as a “game changer” by potential customers. The EPS 1.2 MW Biomass model will be the first and only direct thermal extraction solution available in the emerging market space for turbine biomass-to-energy conversion. No other comparable turbine engine exists today in the DE market, in terms of price point and efficiency.
Working in partnership with its engineering team – Brayton Energy, located in Hampton, New Hampshire (www.braytonenergy.net) – EPS has secured the technology rights for its unique design through a 20 year royalty-free license arrangement with Brayton. EPS has built and tested a ¼ scale model of the biomass combustion chamber for the biomass turbine with highly favourable operating and emissions results. These turbines are scalable up to 5.0 MW and can be placed in series to form 20 MW power sub-stations.
Two prospective customers have signed Letters of Intent to EPS and are eager to purchase significant quantities of both models. Other potential customers have expressed interest as well.
The target is to exceed current reciprocating engines standards in three key areas:
- Operating efficiency and performance – The EPS turbine achieves a heat rate of 8,405 BTU/hr/MW. The net electric efficiency of the EPS Multi-Fuel turbine is 40.6% when operating at full load and at 40.3% efficiency at 75% rating. The EPS Biomass turbine achieves a 24.0% efficiency.
- Long-term cost of ownership (dependable low operating and maintenance costs) – O&M costs for the EPS turbine are less than one-third of a comparable piston engine O&M costs – approximately US$0.008 per Kw hour for the EPS turbine versus US$0.025 per Kw hour for piston engines.
- Emissions – EPS turbines are extremely clean burning. Nitric Oxide exhaust emissions are almost negligible when compared to both comparable piston engines and other turbines. Carbon Dioxide emissions are 75% lower than comparable turbines and 31% lower than diesels.
EPS is currently working on their next funding round of $18M. They have closed $6 million to date.