NEW YORK, March 26, 2014 (GLOBE NEWSWIRE) -- Receivable Acquisition & Management Corp. (OTCBB:CSEI) d/b/a/ Cornerstone Sustainable Energy ("CSE"), announces that it has been selected as the preferred provider of power production technology to Mine-NRG, Inc. This provides CSE with preferred access to the application of heat conversion technology in underground mines, when combined with Mine-NRG's patented technologies. The combination provides safe, sustainable power solutions to the mining industry using no combustion or other hazardous methods.
Tom Telegades, Chief Executive Officer of CSE, commented, "The Company is now poised to deploy its PwrCor™ engines in mining industry applications. Our technology allows Mine-NRG to provide innovative ways for underground mines with low to moderate temperature geothermal resources to generate their own electricity. There are thousands of active underground mines throughout the world, with the U.S. alone accounting for well over 800. Many of these mines, especially the deep ones, have geothermal conditions that offer potential for our technology."
PwrCor™ engines are capable of converting low grade heat energy in the range of 180° to 185° F into mechanical energy or electricity. Based on an award-winning technology, the engines have particular application in the waste heat and geothermal markets.
Mine-NRG, a privately held company, believes that the CSE PwrCor™ technology is ideal for underground mining applications, as no explosive or combustible materials are utilized. Moreover, since CSE's PwrCor™ operates at significantly lower input temperatures and flows than competing technologies, this substantially expands the market to a greater number of mines throughout the world. The global mining industry is a major consumer of electricity needed for air ventilation, pumping, lighting, air compression and other mining operations.
CSE is currently offering two engine sizes, designed to generate 335HP and 167HP (electric generation of 250KW and 125KW respectively), with other sizes and configurations available upon request. The engines are skid-mounted with modest footprints.
The PwrCor™ engine is based upon field-tested and proven thermal hydraulic technology. The engine operates economically using temperatures and flows that competitive technologies cannot match. As additional benefits, the engine gains efficiency by operating without a phase change, involves no internal combustion or gearing, uses only environmentally benign operating fluids, operates almost silently, and produces no pollution – it is entirely "green".
About Cornerstone Sustainable Energy
CSE is focused on energy infrastructure development projects and delivering alternative energy solutions to a wide range of commercial and not-for-profit customers.
Mine-NRG is a privately held licensing and development corporation which has developed patented technologies designed to tap the existing infrastructure and temperatures of underground mines to produce electricity, along with other sustainable benefits.
CSE's Forward-Looking Statement Safe Harbor
Statements under the Private Securities Litigation Reform Act, as amended: with the exception of the historical information contained in this release, the matters described herein contain forward-looking statements that involve risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to raise sufficient financing to implement its growth strategy, and its ability to successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent report on Forms 10-Q, 8-K and other filings made with the SEC. Copies of these reports are available from the SEC's website or without charge from the Company.
CONTACT: Cornerstone Sustainable Energy firstname.lastname@example.org
Source:Cornerstone Sustainable Energy, Inc.