ENER-G Rudox Inc. investment signals new force in American cogeneration/CHP
CARLSTADT, N.J.--Global cogeneration specialist ENER-G has joined forces with Rudox Engine & Equipment Company to design, develop, manufacture and install Combined Heat and Power (CHP) systems from Rudox's production facility in Carlstadt, New Jersey.
ENER-G group has invested in a 75% holding in Rudox, with existing Rudox owners, the Goodman family, retaining a 25% stake in the new ENER-G Rudox Inc. company.
Chris Hayton, new Chief Executive of ENER-G Rudox Inc, said: "This union between clean technology companies ENER-G and Rudox brings together a collective 90 years of market leadership in cogeneration and provides a strong and solid platform for growth. With Rudox's engineering and manufacturing capabilities and extensive network of service engineers, we can deliver and fund combined cooling, heat and power solutions to an American market that is seeking to save money on energy, increase the security of utility supply and improve green performance."
Ryan Goodman, President of Cogeneration for ENER-G Rudox Inc, said: "We are proud to join together with ENER-G, which is a European market leader in cogeneration. Our integrated product range, which will be manufactured by our experienced team in New Jersey, will provide the market with a wide choice of advanced cogeneration solutions from 70kW to 10MW. This investment gives us the capability to accelerate expansion and enables fully financed energy solutions, so customers have the option to pay as they save, without making any capital investment in energy saving technology."
ENER-G, which is headquartered in the UK and has operations in 17 countries worldwide, entered the USA market in 2011. The company has recently commissioned a 2,454 MWh combined cooling, heat and power (CCHP) system at St. Peter's University, New Jersey. This is part of a $6.3 million energy services contract, funded mainly by ENER-G - involving a strategic upgrade of heating, ventilation and air conditioning infrastructure, the installation of a solar photovoltaic system and new building energy management technology.
ENER-G and Rudox have a combined turnover approaching $200 million and a global portfolio of 603MW operational cogeneration systems. In total, this CHP capacity achieves annual carbon dioxide savings of 377,546 tons. This equates to the environmental benefit of carbon sequestered by 280,741 acres of pine forest.
Chris Hayton added: "ENER-G Rudox Inc already has a $100 million dollar pipeline of sales opportunities and with local engineering and manufacturing capability we can deliver faster to market, while providing rapid, on-demand servicing and maintenance support throughout the lifetime of projects. We are committed to growing the ENER-G Rudox business and contributing to economic prosperity and green growth in the USA."
ENER-G Rudox will continue to provide CHP packaged products and custom cogeneration projects on an EPC (engineer, procure/construct) basis. Fully financed cogeneration systems will be available, with provision to deliver a complete energy services package - releasing substantial, guaranteed customer savings through energy efficiency and renewable energy generation.
ENER-G (www.energ-group.com) is a clean technology and energy services company and global leader in small scale cogeneration, biogas generation and energy from waste. ENER-G's solid financial status and independence provides freedom to finance capital projects to offer zero cost purchase options to customers.
Rudox (www.rudox.com), founded in New Jersey in 1949, specializes in CHP/cogeneration and emergency power systems. Rudox has in-house expertise and resources to custom design, develop, assemble and test engines, generator sets, and CHP systems to suit customers' custom requirements.