CORP ANNOUNCEMENT / Stellarton Energy Corporation Announces Formation
of New Power Systems Subsidiary
CALGARY, Jan. 6 /CNW/ - Stellarton Energy Corporation (TSE:SRT.A) is
pleased to announce the formation of Secure Power Systems Ltd.(SPS). SPS has
been created primarily to take advantage of power supply opportunities
developing as a result of technological improvements in producing electricity
on a small scale. The new company is owned 60% by Stellarton and 40% by a
private power generation contractor that is actively assembling and installing
power stations Worldwide. Stellarton (and its Secure Oil Tools division),
contributes a track record of introducing competitive new business entities
and product lines around oil and gas engineering themes, with strengths in
natural resource development, sales and service networks. The combined
capabilities of both parent companies will contribute to SPS's ability to
provide high quality power solutions for industry.
SPS has finalized a distributor agreement with Elliott Magnetek Power
Systems (EMPS) to provide sales, service, parts and installation of EMPS
product for the territory covering Alberta, Manitoba, Saskatchewan, Yukon, and
Northwest Territories. Secure Power's mandate is to provide high quality
prime power and standby solutions using EMPS equipment for petroleum
producers, industrial, commercial, government, agricultural, and high end
residential users. As well as providing new high quality equipment to the oil
and gas industry, Secure Power Systems will expand Stellarton's corporate
theme of extracting profitable gains from underdeveloped or stranded oil and
gas opportunities.
Current products available to Secure Power Systems from EMPS and its
affiliates include a complete product line of natural gas, propane, and diesel
fuelled conventional power generation products ranging in size from 8 kW to
2 MW. Co-generation packages are available for many of the products, which
can create fuel efficiencies in excess of 80% when both heat and electricity
are required. Also available is a 45 kW micro-turbine, with 80 and 200 kW
sizes and heater/chiller products available in mid to late 1999. EMPS has the
only commercially available micro-turbine today, with over 100 units installed
and plans to manufacture 1000 units next year.
Micro-turbines are clean burning, and have been commonly referred to as
one of several solutions for the disposition of flare gas by converting waste
gas to electricity. With the increased corporate and government focus on
emissions problems, there will be many practical applications for this new
technology. Secure Power Systems has a number of micro-turbines on order for
industrial clients and Stellarton.
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