Ener-Core, Inc. Announces the Filing of its Third Quarter 10-Q with the SEC
IRVINE, Calif., Nov. 12, 2013 /PRNewswire/ -- Ener-Core, Inc. (OTCQB: ENCR; "Ener-Core" or the "Company"), the leading designer and manufacturer of Gradual Oxidizer products, announces its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2013 has been filed with the U.S. Securities and Exchange Commission ("SEC").
Q3 2013 Operating Highlights:
- On July 1, 2013, Ener-Core, Inc. announced that it completed a merger transaction with Ener-Core Power, Inc. (f/k/a Flex Power Generation, Inc.). Common stock of the combined company has since been quoted on the OTC Bulletin Board and the OTC Market Group Inc.'s OTCQB tier under the symbol "ENCR."
- Ener-Core successfully transitioned from its R&D phase with the sale of an Ener-Core Powerstation FP250 ("FP250") for $760,000 to one of the largest waste management and biogas production companies in the Netherlands, Attero B.V., through the Company's distributor, Efficient Energy Conversion Turbo Machinery, B.V.
- Ener-Core has received financing from the Export-Import Bank of the U.S. ("Ex-Im Bank") in the amount of $400,000 through Ex-Im Bank's Global Credit Express program, which is specially designed to deliver short-term working capital.
- The FP250 test unit was successfully relocated to the University of California, Irvine from Portsmouth, New Hampshire in July 2013. The test unit will continue to be used for development and demonstration.
- Ener-Core sold and issued an aggregate of 5,160,197 shares of its common stock in private offerings during the quarter.
- Ener-Core has an Original Equipment Packaging Agreement with Dresser-Rand a.s., which enables the Company to incorporate the Dresser-Rand KG2-3G two megawatt gas turbine and Gradual Oxidizer in a 2 MW power solution, the Ener-Core Powerstation KG2-3G/GO. The Company has successfully completed the system layout and analytic models integrating the Gradual Oxidizer with the Dresser-Rand turbine.
"After 7-8 years of solid research and development efforts, Ener-Core, Inc. is off to a solid start of its commercialization phase," says Alain Castro, CEO. He continues, "We feel that our Gradual Oxidizer technology and products are game changers in power generation. When combined with a gas turbine, the resulting power system produces continuous energy from a broad range of sources, including previously unusable ultra-low quality gases, while, at the same time, offering superior pollution control and emissions compliance. We are extremely excited to be deploying our technology into the marketplace."
The Company makes available free of charge on its website, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, reports filed pursuant to Section 16 of the U.S. Securities Exchange Act of 1934 and amendments to those reports filed with or furnished to the SEC as soon as reasonably practicable after the Company electronically files these documents with, or furnishes them, to the SEC. These documents are posted on the Company's website at http://www.ener-core.com/ under "Investor Relations."
The SEC maintains a website that contains reports, proxy statements and other information regarding issuers that file electronically with the SEC. These materials may be obtained electronically by accessing the SEC's home page at http://www.sec.gov/.
Copies of the above referenced information will also be made available, free of charge, by calling (212) 896-1225 or upon written request to the address listed below.
About Ener-Core, Inc.
Ener-Core, Inc. ("Ener-Core") designs and manufactures innovative systems for producing continuous energy from a broad range of sources, including previously unusable ultra-low quality gas. The Ener-Core Gradual Oxidizer, our patented oxidation technology, enables the conversion of these gases into useful heat and power with the lowest known associated emissions. With the Ener-Core Gradual Oxidizer matched to gas turbines, Ener-Core offers systems with fuel flexibility and pollution control for power generation. The Gradual Oxidizer can also be customized for integration with larger existing power generation systems to offer unparalleled pollution control and achieve zero emissions.
Ener-Core has developed the 250kW Ener-Core Powerstation FP250 ("FP250"), and its larger counterpart, the 2MW Ener-Core Powerstation KG2-3G/GO, to transform methane gas, especially "ultra-low Btu gas" from landfills, coal mines, oil fields and other low quality methane sources into continuous clean electricity with near-zero emissions. The Powerstations are specifically engineered for fuel flexibility and modularity, so that these low-Btu gas sources can be used as an energy resource instead of wasted through venting and/or flaring.
With dedication, deep expertise, and broad energy experience, Ener-Core serves several markets globally, including oil fields, biogas, coal mines, natural gas, emissions control, and utility power generation. For more information, please visit our website: http://www.ener-core.com/.
Cautionary Statement Regarding Forward-Looking Statements
Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Information provided by Ener-Core, Inc., such as online or printed documents, publications or information available via its website may contain forward-looking statements that involve risks, uncertainties, assumptions, and other factors, which, if they do not materialize or prove correct, could cause its results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may include, among others, plans, strategies, and objectives of management for future operations; any statements regarding proposed new products, services, or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. The information contained in this release is as of July 1, 2013. Except as otherwise expressly referenced herein, Ener-Core assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
SOURCE Ener-Core, Inc.
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