SOURCE: SAIL Venture Partners

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January 19, 2011 07:00 ET

SAIL Announces FlexEnergy Completes Acquisition of Ingersoll Rand's Energy Systems Business

Acquisition to Unite Clean Energy Technologies With Industry-Leading Microturbines

IRVINE, CA--(Marketwire - January 19, 2011) - SAIL Venture Partners has announced that its portfolio company, FlexEnergy, a cleantech company that creates clean energy with near-zero emissions from harmful greenhouse gases, has completed the acquisition of the Energy Systems business of Ingersoll Rand. The Energy Systems business is headquartered in Portsmouth, New Hampshire and is an innovator in environmentally-friendly microturbines, microturbine systems and recuperators. FlexEnergy now has operations in New Hampshire, North Carolina and California, with customers and installations worldwide.

"The acquisition of Energy Systems allows FlexEnergy to accelerate our rollout of Flex Powerstations domestically and abroad by bringing to our team the talented engineering and manufacturing professionals of Energy Systems," says Joseph Perry, CEO of FlexEnergy.

FlexEnergy recently unveiled its innovative Flex Powerstation technology at the Lamb Canyon Landfill in Riverside County which transforms harmful and previously unusable methane gas into clean energy with near-zero emissions.

With the acquisition of the Energy Systems MT250 microturbine product line, FlexEnergy now offers a family of systems that operate on the widest source of fuels with the lowest emission profile in the industry. FlexEnergy systems unlock the entire low Btu gas market creating a new class of continuous, clean, renewable energy.

Bob Mack, vice president of business development for Ingersoll Rand, will join the FlexEnergy Board of Directors to assist the new company as a strategic partner. "The combination of FlexEnergy technology with Energy Systems' business assets provides an enhanced family of systems for low emission power generation," said Mack.

Walter Schindler, Managing Partner of SAIL Venture Partners, noted, "This is an exciting acquisition for FlexEnergy as it will allow the company to grow more rapidly and with microturbine production and expertise in-house, at much higher levels of efficiency."

SAIL Venture Partners and RNS Capital Partners are lead investors in FlexEnergy, having participated in both a Series A and Series B offering and are actively involved in the company at the Board level.

About FlexEnergy
FlexEnergy is the developer of one of the world's cleanest power platforms, fueled by existing, unconventional energy sources to destroy pollution and create a new, sustainable energy source. FlexEnergy technology has taken one of the world's largest sources of greenhouse gases, low quality methane, and transformed it from a pollution source into an energy source for clean generation of electricity, offering energy recovery where it was previously impossible.
The Flex Powerstation runs effectively on diluted waste streams, in concentrations too low for other conventional systems, and converts those waste streams, such as methane, into renewable energy. Unlike other technologies, the Flex Powerstation creates electricity with near zero NOx or CO emissions, providing breakthrough solutions for landfills, coalmines and manufacturers needing to stay ahead of emissions regulations. For more information, visit www.flexenergy.com.

About SAIL Venture Partners
SAIL Venture Partners LLC is a cleantech investment firm with unique global insight into technologies, markets and opportunities. Drawing on decades of experience in cleantech and in growing successful businesses, the SAIL team invests in emerging cleantech companies with proven technologies, visionary leadership, demonstrated revenue and profit growth potential. SAIL has invested in a number of today's leading global cleantech companies, including: Xtreme Power, Ice Energy, The Cleantech Group, Enerpulse, Dow Kokam, SNTech Motors, M2 Renewables, and WaterHealth International. For more information, visit www.sailvc.com.

About RNS Capital
RNS Capital is a closely held private equity platform investing in clean technology, energy services and education. For more information, visit www.rnscapitalpartners.com.

Contact Information

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    SAC Marketing for SAIL Venture Partners
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