DALLAS, March 25, 2019 /PRNewswire-PRWeb/ -- Increment Power LLC has entered into an exclusive license agreement with PowerPHASE LLC covering deployment of performance-enhancing PowerPHASE technologies, including Turbophase™ dry air injection and Fastlight™ compressed air energy storage systems for gas turbines.
Increment Power offers "Energy as a Service" (EaaS) with defined-term contracts to streamline the project development and installation and provide continued ownership and operation of the mobile compressed air injection and energy storage systems. The scalable, modular systems are suitable for any gas turbine application including power, cogeneration and pipeline compression, delivering sustained incremental output under any ambient condition.
Increment Power's new EaaS business model is complementary to PowerPHASE's Turbophase™ product, service and finance offerings, by providing power generators an expense-based service option for increasing their capacity, energy and ancillary services capabilities. Increment Power's license covers all patented PowerPHASE technologies, enabling flexible term contracts with expedited deployment, full-service O&M and performance assurance for the duration of the client relationship.
The flexibility of Increment Power's EaaS model allows gas turbine owners, asset managers and energy traders to profit from near-term energy and capacity pricing opportunities, or where uncertain market conditions do not support capital investment in new power plants.
"Our mobile systems supercharge gas turbines, adding up to 15% capacity and energy, and can generate substantial incremental revenues for our clients without the capital investment or development time needed for a new turbine.
"Increment Power's Energy Service Agreements allow clients to create incremental value in their gas turbines by tapping the latent capacity in their existing fleet within a matter of months. Our as-a-service contract structure supports power generators who can profit from scarcity-driven energy pricing, as well as those in capacity markets where annual auctions create fluctuating long-term capacity and locational values. Our initial target clients are located in key U.S. markets, including ERCOT, NYISO, PJM and ISONE, but we know that demand for our services exists wherever energy markets are under strain due to generation retirements and increasing renewables penetration," according to founding partner Lynne Flowers.
"The Increment Power deal expands the opportunities to deploy PowerPHASE technology to gas turbine plants operating in volatile energy markets, where customers use short-term pricing forecasts when evaluating incremental power or energy storage options. Our fast, powerful and quick-to-react systems add significant value to operating gas turbines. When coupled with the Increment Power team's extensive background in power and natural gas project development, they have the capability to deliver, own and operate the equipment with their EaaS model and simplify value creation for the customer," stated Bob Kraft, CEO of PowerPHASE.
About Increment Power:
Increment Power was founded in 2018 by independent power developers Lynne Flowers and Matt Held, together with Steve Quisenberry, a turbine technology and plant operations expert, and formerly PowerPHASE COO. Our extensive gas turbine knowledge, development and permitting skills, and operation & maintenance expertise ensures dependable project implementation, allowing our clients to focus on their core operations.
Increment Power provides gas turbine owners 5-15% more capacity and energy output for no upfront capital expense. The firm develops projects that deploy mobile systems based on Turbophase™ and Fastlight™ technologies developed and patented by PowerPHASE LLC, offering short-term contracts to give clients the utmost in economic benefit and locational flexibility.
SOURCE Increment Power LLC
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