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NTE awarded patent for biomass hybrid technology

May 2, 2012 - NTE Energy has been awarded a patent by the United States Patent & Trademark Office for its proprietary biomass hybrid renewable energy technology which revolutionizes the production of renewable energy by allowing the simultaneous operation of a biomass energy cycle in concert with a traditional power plant.


May 2, 2012
By Business Wire

May 2, 2012 – NTE Energy has been awarded a patent by the
United States Patent & Trademark Office for its proprietary biomass
hybrid renewable energy technology which revolutionizes the
production of renewable energy by allowing the simultaneous operation of
a biomass energy cycle in concert with a traditional power plant. Patent
number US 8,161,724 was issued on April 24, 2012.

"This patent represents a game-changing moment for the renewable energy
industry," said Seth Shortlidge, President and CEO of NTE Energy. "Our
technology will help generators provide reliable, low cost, efficient
electricity, while creating new economic opportunities and jobs. NTE
Energy's hybrid technology creates significant benefits by decreasing
use of fossil fuels in power generation, increasing domestic renewable
energy production, and providing the forestry and agriculture sectors
with solutions for their biomass residuals."

NTE Energy will utilize this technology in the development, construction
and operation of new hybrid renewable power generation facilities
located throughout the United States, including projects under
development in Florida, North Carolina and Virginia. As an alternative,
NTE Energy will license the technology to other parties, including
independently owned hybrid renewable energy facilities.

"Hybrid technology allows utilities to provide renewable, baseload power
from a native biomass fuel that also helps to diversify the regional
generation portfolio," said Mark Daley, Executive Vice President of
Sales and Marketing. "Each facility will also create more than 120
permanent jobs, with hundreds of additional construction jobs to build
each plant."

NTE Energy's patented hybrid technology integrates biomass and
conventional steam electric generating technologies into a single
efficient hybrid renewable power generation facility. The addition of
hybrid technology to an existing generation facility provides
substantial capital cost savings over stand-alone biomass facilities
through the use of a shared steam turbine and other common major
equipment and systems. The technology can be integrated into the design
of new combined cycle plants or retrofit onto almost any existing power
plant that has excess steam turbine capacity including those
combined-cycle plants employing duct burners.

"We're pleased that the United States Patent & Trademark Office has
issued this patent to NTE Energy," said Lucas Missong, Vice President at
EIF, a private equity firm focused on the power industry and a partner
with NTE Energy in the development of hybrid technology. "This
proprietary technology will allow for greater renewable energy
production in a more cost efficient manner."

The patent was awarded to technology developed by Seth Shortlidge and
Greg Cahill of Tri-Mont Engineering. Alan Smithe, Vice President of
Engineering at NTE Energy, was the company's technical lead in the
prosecution of the patent application. NTE Energy was represented by
John W. Gulliver and Joseph Maraia of Pierce Atwood LLP.


About NTE Energy

NTE Energy is focused on developing and/or licensing hybrid energy
projects in the United States and internationally. Located in St.
Augustine, Florida, the nation's oldest city, NTE Energy has been a
leader in the development of commercially viable hybrid renewable energy
technology since 2009. The NTE Energy team has expertise in marketing,
development, engineering, legal and regulatory affairs, with executive
staff previously holding leadership roles in major energy, legal, and
construction/engineering firms. For more information, visit
www.nteenergy.com.

About Energy Investors Funds

EIF was founded in 1987 as the first private equity fund manager
dedicated exclusively to the independent power and electric utility
industry. EIF has mobilized over $4 billion in capital raised in eight
funds, and currently manages five private equity funds from its offices
in Boston, New York, and San Francisco. These funds have made over 100
diversified investments that have an underlying asset value greater than
$15 billion. EIF has over 3,675 MW of capacity in operation and under
construction, as well as an additional 2,875 MW under development. EIF
closed on its latest private equity fund, EIF United States Power Fund
IV, L.P. in October 2011, with $1.713 billion in capital commitments.
For more information, visit
www.eif.com.


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