Submitted by:
Aravind K.A.
A6429713001
Electric Power Generation Technology -
a fuel cell electric power generation company, announced the JV partnership
execution with the Italian firm Associazione Italiana per lo Sviluppo
Economico (AISVEC) to leverage the expanding global natural gas supply
infrastructure to deploy its fuel efficient electric power generation devices
within Italy.
Alessio Montanarini, AISVEC Vice President, states:
The competitive advantage of the GEI hybrid fuel
cell electric power generation technology will address the paramount need to
decrease the high energy costs in Europe, whose market amounts to 500 million
people. Initially, the partnership will focus on the Italian market and later
on Europe, the Balkans and CIS countries, addressing the 3000 public
authorities and private companies connected to AISVEC. To this end, AISVEC is
negotiating with governmental authorities in Central and Eastern Europe with
regards to fuel supply, power requirements, and economic development.
“The GEI goal is to remove the fuel infrastructure
as a commercialization barrier, and to provide the GEI hybrid fuel cell
electric power generation technology to large scale potential consumers and
thereby lowering manufacturing costs”, stated Dr. K. J. Berry, GEI Chairman and
CEO.
The partnership between the two firms will enable
European companies to install the GEI hybrid fuel cell cogeneration power
system, and take advantage of the new EU Policy on Climate Change. Also,
companies will be able to leverage the large scale methane and natural gas
infrastructure system presently in Italy and the rest of Europe to become grid
independent.
A pilot plant and technology showcase will launch
in October 2014 providing over 6,000 kW-hr per month of combined heat and power
(CHP) to a small municipality in Northern Italy. The partnership will focus on
clean, efficient and environmentally friendly electric power systems within
public owned buildings, shopping malls, commercial real estate, and industries.
About
AISVEC
AISVEC is an Italian economic association with a worldwide presence, supporting public authorities and private enterprises with easy access to credit facilities, investments, lobbying and bilateral agreements with foreign authorities and/or private partners.
AISVEC is an Italian economic association with a worldwide presence, supporting public authorities and private enterprises with easy access to credit facilities, investments, lobbying and bilateral agreements with foreign authorities and/or private partners.
About
GEI Global Energy Corp:
GEI Global Energy Corp is a fuel cell electrical power generation company leveraging a menu of novel and innovative fuel cell power systems technologies to provide clean and inexpensive energy solutions for developing economies.
GEI Global Energy Corp is a fuel cell electrical power generation company leveraging a menu of novel and innovative fuel cell power systems technologies to provide clean and inexpensive energy solutions for developing economies.
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