Ener-Core CEO Sees Russian Business Dry Up Since Conflict

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Aug. 20 (Bloomberg) –- Ener-Core CEO Alain Castro discusses the challenges his energy company faces in doing business in Russia in light of the conflict with Ukraine. He speaks on “Taking Stock.” (Source: Bloomberg)

Tell us about your potential business in russia.

What was going on there?

I am smiling at your and her -- your pronunciation.

Enter core develops equipment that takes the emissions from a wide range of companies, coal mines, oil drilling sites, distilleries and so on.

The most undesirable gases of all the industries typically gets layered -- flared.

We are commercializing equipment that for the first time ever can use these gases to create power.

It is a way of aiding the emitters of gasses to become more efficient and essentially stop burning money.

They do have value but just has not been a to utilize them.

We had a massive pipeline and russia, particularly because a few years ago president putin announced they are banning the use of players -- flares.

Putin noticed all of the oil operations around the country were flaring a massive amounts of gas.

You could see these in this guideline in the night.

He passed a law to basically say we will transition the entire country and passed the problem to industry.

He basically put industry and a situation that will enable them to stop.

When he did that, that created a surge in demand for our tech knowledge he that dwarfed anything we were already seeing in other continents of the world.

We expect to see the 40, 50 100 million in sales into russia over the next few years, just because we were the perfect solution for industries that need to stop flaring excess gas.

Tell us what happened.

Nothing all that dramatic.

Essentially nothing has been stopped or canceled, but we went from spending a significant amount of our teams time at negotiating rather large contracts, and those basically came to a standstill and are still there.

The conversations are still amicable and they consistently tell us as soon as the tension stop, we will continue.

These negotiations are on hold.

Explain exactly is what is the tech knowledge he?

Bigger than a bread box?

Who uses it now?

Lex we make equipment.

We make a two megawatt solution in 250 watt solution.

Just to give you a sense of size, it can power 300 homes using the excess gas from a refinery or other industries.

These are typically about 35 feet by 20 feet.

Not a massive amount of area.

Effectively what we are doing is using another way rather than combustion to utilize gases that literally have no technology today that can use them.

All of the society for the past 250 years has basically generated power from combustion.

We are not burning it, we are running it through a similar process called oxidation.

We can generate the heat power, despite the fact the gases are very corrosive and typically cause damage to most equipment you would want to generate power with.

Where could someone go to see your product in use?

We have one operating in the netherlands and one in university of california irvine.

Just started commercializing this past year.

Expect to have a lot more installed across europe and other continents in the near future.

Many thanks to the executive.

This text has been automatically generated. It may not be 100% accurate.


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