A Charleston-based company working to commercialize affordable clean energy technologies has signed a letter of intent to acquire Ergenics, a New Jersey-based research lab. Hy-Stor Technologies will potentially acquire the lab, which creates energy using hydrogen based on science from NASA’s Hubble Space Program and the Viking Moon Probe.
As a result of the acquisition, Ergenics would move their facilities currently located in New Jersey to the Lowcountry of South Carolina along with up to 30 high-tech jobs within the first year and hundreds within the next several years. Hy-Stor is actively looking for locations to relocate the lab and is currently in talks with the Town of Mt. Pleasant.
“As we expand, we will focus on hiring veterans and training locally with the assistance of a robust technical school community as well as cooperation with area research and development authorities,” says Walt Thorn, chief operating officer for Hy-Stor.
The technology behind Ergenics is called Reversible Hydrogen Hydride science. It creates energy using metal hydride alloys to absorb, store and desorb large quantities of hydrogen. The process allows for the safe use of hydrogen as it moves from a gaseous state to a completely safe, metal hydride state, which creates energy that could make electricity from waste heat, drive a piston, run an engine or spin a turbine to make power.
“Platforms for this technology include totally safe and recyclable industrial batteries, zero carbon footprint air conditioning/refrigeration and power generation systems,” says Thorn.
Hy-Stor’s role will be to commercialize the process and take the products to the market within the first year of operations . Thorn notes that the technology is disruptive and game-changing for the battery, power generation and HVAC industries, which combined are a $300 billion market in the U.S. alone.
About Hy-Stor Technologies
Hy-Stor Technologies is a Charleston,S.C.-based company that commercializes affordable clean energy technologies that have been scientifically proven. With longtime local businessman Walt Thorn as co-founder and chief operating officer, Hy-Stor actively searches for economically viable and environmentally-friendly technologies, then brings together the partners and funding to take the products to market. Sample platforms include industrial grade rechargeable batteries for Telcom cell towers, heat-to-electricity power generation for the natural gas pipeline industry and cooling/refrigeration applications for commercial and industrial use.
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