Open Energy Corp. (OTCBB: OEGY)
OEGY Stock Guru Profile
Alternative Energy Sources Crucial for Global Outlook
Alternative energy sources are essential noted Claude Mandil, executive director of the International Energy Association (IEA). IEA has predicted an alomost apocalyptic future which can be averted if new government policies are used to create an alternative energy future that is “clean, clever and competitive”, Mandil added, at the launch of the IEA’s World Energy Outlook 2006.
Open Energy Corporation delivers precisely the alternative energy the IEA includes in its ‘clean, clever, and competitive’ future. It focuses on the development and commercialization of renewable energy products and technologies for a wide range of applications including electrical and thermal power production and water desalination.
Open Energy Corporation, a renewable energy company focused on the design and manufacturing of solar energy products has signed a joint development agreement with Infinia Corporation to integrate its products into a revolutionary power generation system.
Infinia’s free piston Stirling engines are currently used for aerospace and national security applications, where a high degree of reliability and long, maintenance-free service life is required. Operating without internal combustion, a Stirling engine utilizes high temperature differentials to drive a piston and produce electricity.
The engineering teams at Infinia and Open Energy believes that the Suncone CSP solar concentrating power system can be modified to deliver over 700 degrees centigrade of solar thermal energy to Infinia’s engine, thus generating electricity on a cost effective basis without burning fossil fuels or emitting green house gases.
Infinia is already commercializing a 1 kW engine for residential heating and electricity in Asia and Europe. We will begin our product development utilizing a modified version of this engine to prove out the feasibility of the Suncone/Stirling system, before developing a larger version for distributed generation applications.
Why Open Energy is On Target
Global world energy demand will increase by 53% between now and 2030 according to the outlook’s “Reference Scenario” – the projection for future demand if current trends continue. Seventy percent of the increase will come from developing countries, with China and India leading the pack. Investment in energy infrastructure between 2005 and 2030 will have to be increased to $20,000bn. The outlook sets out the practicalities of changing our energy future with “An alternative energy scenario”.
Governments need to implement the policies and measures that they are considering. This would result in a 10% drop in energy demand by 2030 – which equates to China’s entire energy consumption today. It would also mean a 16% drop in CO2 emissions – the equivalent of the US and Canada’s current emissions. Just a dozen specific policies in key countries could account for 40% of the reduction in global CO2 emissions, according to the report.
Getting there will require the promotion of greater efficiency in industry, making greater use of renewables and biofuels and increasing the fuel efficiency of cars and trucks.” The good news,” said Mandil, “is that these policies are very cost-effective,” and initial costs are far outweighed by energy savings.
Open Energy is Precisely in line with the NonGovernment Official Scenario as well:
“Global warming needs a global solution, but unless we want every dictator in the world to have access to enriched uranium, nuclear power can’t be that solution.” Sarah North, Greenpeace
“Globally, nuclear power currently supplies around 3% of global energy – at a high economic and environmental cost. Renewable energy sources can supply considerably more than even the Agency’s highest future global energy forecasts.” Neil Crumpton, Friends of the Earth.
J.D. Sitton, CEO of Infinia Corporation said, “We have already achieved solid results with a dish Stirling system at our facility in eastern Washington and have made significant progress on our larger engines. By working with Open Energy, we believe we can accelerate the development and commercial availability of these truly important and unique solar power generation systems. Our companies share a similar goal – to fundamentally change how the world generates and uses energy – and our engineering teams are hard at work to make this happen.”
Source: Open Energy Corp. and ICIS Chemical Business
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About Open Energy
Open Energy Corporation (OTC BB:OEGY) focuses on the development and commercialization of renewable energy products and technologies for a wide range of applications including electrical and thermal power production and water desalination. The Company pursues these objectives through technology, innovation, acquisitions, strategic partnerships and other business strategies. The company’s mission is to enhance life by harnessing the power of the sun.
Safe Harbor for Forward Looking Statements: Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, customer demand for its products, the Company’s ability to scale up manufacturing to meet demand, and other factors over which Open Energy Corporation has little or no control.
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