MOU signed to launch innovative mCHP cogeneration systems that promote energy efficiency and resiliency
East Troy, Wisconsin (August 11, 2020) - Axiom Energy Group today announced plans to launch the distribution of its micro-combined heat and power (mCHP) systems through ATCO to bring affordable, clean energy to customers throughout North America.
"We are very excited for this opportunity to collaborate with ATCO, a well-known and respected leader in the utility industry, in a way that aligns with our business and sustainability goals." said James C. Green, President & CEO of Axiom Energy Group. "This gives us direct access to a key market segment. By leveraging the very sophisticated and expansive sales and business development teams from ATCO, our efforts and resources can focus on innovation and manufacturing world class systems to deliver affordable clean energy and doing our part to promote a sustainable future."
mCHP systems produce electricity as a by-product of heat that the systems generate for hot water or open space heating. This process is highly efficient (in excess of 93%) and with near zero emissions. Axiom Energy Group develops and manufactures mCHP systems using a long-life, low-maintenance natural gas engine that modulates to produce between 1.2kWh and 4.4kWh of electricity, and 42,000 btu of thermal power per hour.
As a major provider of integrated energy, housing, transportation and infrastructure solutions to clients around the world and over $22 billion in assets, ATCO is one of the most experienced electricity and natural gas utilities in Western Canada.
"The cogeneration systems offered by Axiom Energy Group bring exceptional value to the clean energy market segment," Green added. "This opportunity is an ideal way for our customers to achieve their environmental and CO2 reduction objectives and will allow for better market accessibility to advance the interests of those most impacted by the need for affordable and clean energy."
Sustainability was a primary objective in pursuing this deal. "The mCHP systems offered by Axiom Energy Group are fundamental to our company's commitment to sustainability," said Gary Schildt, Board Chairman for Axiom Energy Group. "We believe the focus on sustainable development goals are the foundation of successful business objectives, and we are fortunate to have found a company like ATCO that shares this value. These systems not only allow our customers to reduce their environmental impact, but also help to build healthy communities."
Under the terms of the deal, ATCO will secure exclusive rights to distribute the Axiom Energy Group systems throughout Canada.
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Axiom Energy Group provides innovative clean energy solutions in residential, commercial and industrial markets. With facilities in Wisconsin and New Mexico, Axiom Energy Group manufactures systems eliminating emissions and providing efficient clean energy. Its product ranges include vapor recovery equipment, burner management and mCHP systems. Through its dedicated employees, Axiom Energy Group offers highly engineered systems creating optimum value for its customers.
Katie Slaski, Business Development Specialist