WASHINGTON, DC, Sept. 18, 2002 — One of the agricultural industry’s most serious environmental issues can become a profit center for farmers, thanks to cost-efficient technology imported from Denmark and licensed for use in North America by Environmental Power Corporation (EPC), a technology provider of solutions for the management of agricultural waste and production of renewable power from a variety of alternative fuel sources.
Dan Eastman, senior vice president, business development for EPC, discussed the company’s proven technology at the Bioenergy/Carbon Workshop for Agriculture held yesterday at the National Cattlemen’s Beef Association in Washington, DC.
EPC’s technology utilizes the industry’s most efficient anaerobic digestion technology to extract methane from farm waste for the production of renewable electricity that can be used during peak demand or off peak periods.
The systems, which have been used successfully in Europe for a number of years, are expected to substantially reduce farm odor and address both water and air quality concerns caused by animal waste.
“EPC is positioned at the confluence of two expanding markets; the government-mandated need for pollution control for large animal feeding operations and the rapidly growing, highly favored renewable energy market,” said Eastman. “The company’s proprietary technology can turn a costly environmental challenge into an economic benefit.”
In addition to using the electricity generated, the process produces saleable byproducts, including organic fertilizer and animal bedding, which can provide additional revenue streams for farmers.
Environmental Power’s anaerobic digestion systems are expected to help animal feeding operations meet Environmental Protection Agency and U.S. Department of Agriculture pollution standards. These agencies have identified animal feeding operations as the greatest contributors to the problem of excess mineral pollutants in water runoff, the most significant remaining source of water pollution.
In addition, many states are requiring a certain percentage of total power sold come from renewable sources. Most recently, California Gov. Gray Davis signed a bill requiring that 20 percent of the state’s energy come from renewable sources by 2017. Among other states with renewable energy requirements are Arizona, Nevada, New York, Texas and Wisconsin.
Environmental Power is targeting its proposed anaerobic digestions systems to animal feeding operations in the U.S. and estimates market potential for this type of pollution control to exceed $14 billion, including an initial target market of approximately $6.7 billion.
Eastman detailed the benefits of Environmental Power’s anaerobic technology, which is expected to produce enough methane to generate more than twice the electric power for sale or use on farms of other technologies currently in use. EPC’s systems will also provide a method of storing the methane so electricity can be generated during peak demand periods when utilities need the power the most and when it can generate a premium price when selling it into the grid.
Environmental Power recently signed conditional letters of intent with a group of farms in Wisconsin to build highly efficient anaerobic digestion systems. Previously, the company secured a long-term agreement with Wisconsin Public Service Corporation to sell the electricity produced on the farms. The company is in advanced talks with other utilities and farms and interest in adopting the technology has been robust.
About Environmental Power Corporation
Environmental Power Corporation (OTCBB: POWR – News) is an entrepreneurial energy company established in 1982 with annual revenues in excess of $50 million. The company focuses on environmentally sound power generation and anaerobic digestion systems. For more information, visit the company’s web site at www.environmentalpower.com.
Source: Environmental Power Corporation