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HOUSTON - Global Clean Energy, Inc. (OTC PINK: GCEI), a $44.83 million market cap company whose stock has surged 33.73% over the past six months, has announced the establishment of its Cogeneration Division, a move that aligns with the company’s strategy to provide efficient and sustainable energy solutions. The division will focus on deploying MicroUtility installations that utilize natural gas-powered engines for electricity generation, while also capturing waste heat for hot water production.
This cogeneration process, known as Combined Heat and Power (CHP), is designed to offer significant energy savings to customers. GCEI will own, install, and maintain these systems, offering them to end-users with no upfront costs under a shared-savings model.
To bolster its initiative, GCEI has entered into an exclusive consulting agreement with Axiom Energy Group, which manufactures a 4.4kw cogeneration system that can be scaled up to 30kW. According to InvestingPro data, GCEI maintains a GOOD financial health score of 2.95, suggesting stable operational foundations for this expansion. These systems are suitable for various commercial and industrial facilities, including hotels, health clubs, and manufacturing plants. Discussions are underway to deploy these MicroUtilities across strategic locations in North America.
In addition to the partnership with Axiom Energy, GCEI has also signed a Memorandum of Understanding to become a North American Integrator for SolydEra’s Solid Oxide Fuel Cell (SOFC) stack technology. SolydEra’s SOFC systems, which can generate 100kW of electricity and heat, are expected to be market-ready within the next year.
Steven Mann, CDO of Global Clean Energy, Inc., emphasized the potential for immediate cost savings on electricity and natural gas for customers, along with significant reductions in carbon footprint. James C. Green, President & CEO of Axiom Energy, and Alexander Liberov, CEO of SolydEra, both expressed enthusiasm for the collaboration, highlighting the opportunities for decarbonization and the provision of scalable, sustainable energy solutions.
The forward-looking statements in the press release reflect the company’s expectations and are subject to risks and uncertainties that could cause actual results to differ. This news is based on a press release statement from Global Clean Energy, Inc. For deeper insights into GCEI’s potential, InvestingPro subscribers have access to additional exclusive tips and comprehensive financial metrics that can help evaluate the company’s growth prospects.
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