Date: Dec 02, 2009 Source: EIN Presswire (
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/ EIN Presswire / ERRA Incorporated of San Antonio, Texas, announced today that they have completed their acquisition of Ergenics Corporation of Ringwood, New Jersey.
Ergenics Corp. (found at: www.ergenics.com and www.youtube.com keyword Ergenics) is a well-established clean-energy technologies development company possessing a portfolio of worldwide patents, largely based in the science of reversible metal hydride technologies.
"This acquisition will rapidly advance the commercialization of several proprietary game- changing technologies in the clean energy industry worldwide," says ERRA's Chairman & CAO, Bernard Reznicek, the former President and CEO of Boston Edison and Omaha Public Power.
"ERRA, Inc. had previously acquired its YESS (Your Energy Storage Solution) advanced storage battery technology from Ergenics Corp. Understanding that breakthrough technologies such as those developed by Ergenics Corp. were global market makers that would position ERRA, Inc. as a world leader in the Clean Tech field, it only made sense to acquire Ergenics," says ERRA's CEO, James Hogarth.
ERRA, established in 2006, has always been committed to the worldwide commercialization of 100% battery powered electric vehicles. ERRA's enabling automotive technologies include the previously acquired YESS advanced storage battery and very strong, lightweight composite vehicle structures.
"Ergenics Corporation has developed numerous patented technologies related to the green / clean tech energy industry. The previously acquired YESS advanced storage battery is based on a proven solid state nickel hydrogen electrochemistry that is fully scalable from batteries as small as AAA up to battery arrays capable of storing several MWH's of electricity very affordably for long periods of time if needed.
The newly acquired portfolio of technologies includes a zero emissions air conditioning technology, capable of being scaled from the size of a paper clip up through multi-ton commercial systems. One of the unique characteristics of this technology is that the hotter the ambient temperature gets outside, the better the reversible hydrides work. The air conditioning technology does not need refrigerant gases, and in many applications the compressor can be eliminated. In nearly all applications these systems utilize much less electricity to operate than conventional systems.
The air conditioning technology is capable of being reversed and used as a heat pump. Again, unlike conventional heat pumps which do not work very well in colder regions, the hydride heat pump works better the colder it gets outside.
Another technology acquired is a refrigeration system based on reversible hydrides. The refrigeration system is based on multiple stages of the basic hydride air conditioning system. The refrigeration system does not require refrigerant gases and is also able to eliminate the compressor in many applications.
A hydride heat engine has also been developed. This heat engine can operate on much lower heat sources than conventional heat engines. Electricity can be inexpensively produced at any source where there is a waste heat stream. In addition, we are developing advanced systems that can operate very cost effectively using solar heated hot water.
According to Chairman Reznicek, "The acquisition of Ergenics will guarantee ERRA's ability to greatly reduce the world's dependence on petroleum and fossil fuels within this current generation! These technologies may well provide the unsolved solutions to many of the world's most vexing energy and environmental problems."
David DaCosta will remain president of the new, wholly-owned subsidiary of ERRA Incorporated. DaCosta believes the relationship with ERRA will lay the foundation for manufacturing these technologies here in the United States. DaCosta said he has long recognized and respected the efforts of ERRA's founder James Hogarth in re-establishing efficient, competitive manufacturing practices here at home.
This acquisition is effective immediately. Ergenics Corp will continue to operate from it's facilities in Ringwood, New Jersey. All employees will be retained, while ERRA Inc. will continue to headquarter in San Antonio, Texas, USA.
For additional information or inquiries please contact:
CEO, ERRA Inc.
Official Website: www.errainc.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as ERRA Incorporated, or Ergenics Corporation, or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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