(PRWEB) May 17, 2013
High tech company Power & Energy Inc. has announced that it has divested its world leading hydrogen purification business to SAES Pure Gas Inc. of San Luis Obispo, CA. The sale will allow Power & Energy to focus on producing innovative, energy efficient, cost effective technologies and products for the new and renewable energy industries. The company expects to be adding new engineering positions at its facility in Ivyland, Bucks County.
Power & Energy was founded in 1993 by local entrepreneur, Dr. Peter Bossard with a mission to create products and technologies for the hydrogen and energy sectors of the economy that improve efficiency. With financial support from Ben Franklin Technology Partners and from the Department of Defense, Power & Energy has built a strong technology base for processing natural gas and the generation, purification and analysis of hydrogen. Power & Energy sells products made in Ivyland, PA to customers around the world.
Commenting on the divestiture, Peter Bossard said, “I am pleased that SAES has recognized the value of Power & Energy’s standalone hydrogen purification technology, developed in Bucks County. We are looking forward to fully supporting the transition of this technology to SAES Pure Gas. Of course, I am excited by the prospect of being able to focus Power & Energy’s future R&D efforts on delivering innovative, cost effective products that enable a more efficient use of natural gas, backup power and a growing hydrogen economy.
For more information about Power + Energy, please visit us at http://www.powerandenergy.com.