PwrCor, Inc. Launches Initiative with Con Ed to Develop Pilot Project Based on PwrCor™ Advanced Engine Technology

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| Source: PwrCor, Inc.

Multiple Economic & Environmental Benefits to Con Ed Steam Customers and New York City

 Initiative Marks Entrée to the Broader Steam Condensate Market

NEW YORK, April 04, 2017 (GLOBE NEWSWIRE) --  PwrCor, Inc. (OTCQB:PWCO), a cleantech energy technology company launching advanced and disruptive solutions for the Waste Heat to Energy, Geothermal, and Solar Thermal markets, today announced that it has initiated a program with Consolidated Edison, Inc., one of the largest publicly owned energy companies in the U.S., to develop a pilot project based on its proprietary PwrCorTM engine technology.

The program is based on PwrCor’s advanced green waste-heat-to-power technology in an application that captures waste steam condensate and converts it to electricity before it is disposed of in the municipal sewer system.  This opportunity could not have been exploited previously due to shortcomings with other technologies. By capturing the steam condensate (hot water) before it is disposed of, PwrCor’s proprietary technology can not only deliver electric power to the building but, as a result of the process, cools the hot water, eliminating the need to purchase water to temper the over-hot condensate before it can be disposed of in the sewer system.  Economic and environmental benefits include reduced waste, reduced costs and reduced stress on municipal systems.

The program is structured to culminate in a Pilot Project installation of a PwrCor engine at a suitable Con Ed customer site. Site selection is projected to be made during the third quarter of 2017. Project cost determination and a definitive agreement would be executed after that time based on the size of the engine selected and the specifics of the installation. 

“The PwrCor team’s two year relationship with Con Ed’s Research & Development and Steam Operations departments underpins this project, which will demonstrate the utility and cost savings of our proprietary PwrCor engine technology not only to Con Ed’s customers, but also to the entire District Energy Steam market, which is part of the broader steam condensate market,” said Tom Telegades, Chief Executive Officer of PwrCor, Inc. “The steam condensate market includes tens of thousands of commercial and industrial boiler systems operating in the U.S. alone, a large potential market opportunity for our disruptive cleantech engine technology.”

Mr. Telegades continued, “This agreement also furthers our strategy to work with selected vertical industry partners for engagement in pilot project initiatives that will integrate our PwrCor technology with their application and/or specific technology. We now have initiatives in place in two of the strategic markets we’re focusing on, the Steam Condensate market and the Geothermal market, in which a pilot project is currently underway in Northern California and expected to be completed in several months. Other strategic markets where we are pursuing pilot projects include Oil and Gas, Solar Thermal, Reciprocating Engines and Turbines, Fuel Cell and Data Center markets. We believe that pilot projects in these markets will demonstrate PwrCor’s flexibility by addressing a diverse range of applications, each one of which represents a significant revenue generating opportunity for the Company. We are currently in discussions with selected leading companies in each of these target verticals for similar pilot project initiatives.”

Economic and Environmental Benefits

There are several potential economic and environmental benefits to Con Ed's customers from PwrCor’s cleantech engine technology. Overall costs to Con Ed’s customers would be reduced three-fold: by elimination of the cost to purchase water, by elimination of the cost charged to dispose of the purchased water, and by reductions in the cost of electricity due to the offset from the electric power generated by PwrCor technology. 

Aside from directly benefitting Con Ed’s customers, this innovation would provide environmental benefits and cost savings to Con Ed and New York City’s water and sewer utility that were essentially not possible to capture with previous technology.  These ancillary benefits include, first, the elimination of power losses due to transmission. Second, stresses within the grid distribution network would be reduced. Third, there would be a reduction in the electricity that is required to pump and process the eliminated water through sewage pumping stations and treatment plants. All three benefits result in greater grid capacity that would now be available to meet demand.

Environmental benefits include cleaner air and the conservation of water.  By reducing demands on the electric utility, the burning of fossil fuels can be reduced. And at a time when water is increasingly becoming more of a precious resource, any measure that conserves water would have a positive environmental impact.

About the Technology

PwrCorTM engines use proprietary technology that can cost effectively convert ultra-low-grade heat to usable mechanical or electrical energy, opening up an immense market that competing technologies cannot exploit with a cost effective solution.  PwrCorTM is a cleantech  ‘GREEN’ technology that uses no fossil fuels, does not operate via combustion, has no emissions, and does not process any working fluids that are flammable, harmful to the environment, or costly to replace.  PwrCorTM is scalable, modular, and runs relatively silently, all within a small footprint.

About PwrCor, Inc.

PwrCor, Inc., formerly d/b/a Cornerstone Sustainable Energy, is a cleantech energy technology company offering advanced and disruptive solutions for the Waste Heat to Energy, Geothermal, and Solar Thermal markets, as well as other applicable markets. PwrCor is also focused on energy infrastructure development projects and delivering cleantech energy solutions to commercial and not-for-profit customers. Please visit our website at www.pwrcor.com for additional information.

Forward-Looking Statement Safe Harbor

With the exception of the historical information contained in this release, the matters described herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  These statements involve unknown risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to raise sufficient financing to implement its growth strategy, and its ability to successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent reports on Forms 10-K, 10-Q, 8-K, Schedule 14A and other filings made with the SEC. Copies of these reports are available from the SEC's website, www.sec.gov, or without charge from the Company.  The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.  Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future.


 

Company Contact:
Thomas Telegades, CEO
212-796-4097
ttelegades@pwrcor.com

Investor Relations Contact:
PCG Advisory Group
Stephanie Prince, Managing Director 
Ph: (646) 762-4518
sprince@pcgadvisory.com