Freepoint Commodities Agrees to Debt Deal with Enerpulse - Agreement part of larger marketing alliance -
STAMFORD, Conn., Aug. 22, 2013 /PRNewswire/ -- Freepoint Commodities LLC, through its subsidiary Freepoint Commerce Marketing LLC ("Freepoint"), announced today that it has signed a Convertible Note lending agreement with Enerpulse, Inc. The note agreement between Freepoint and Enerpulse is part of a greater alliance between the two organizations to assist Enerpulse in bringing its cutting-edge Precise Combustion Ignition (PCI) spark plug technology to the energy sector. In addition, Freepoint and Enerpulse have entered into an exclusive marketing arrangement where Freepoint will market the technology to clients that use natural gas fueled internal combustion engines in North America. Potential clients include gatherers, processors, generators, pipelines and producers, all of which use substantial amounts of natural gas on a daily basis.
Joe Gonnella, CEO of Enerpulse, stated, "PCI plug technology has demonstrated significant improvements in natural gas fueled engine stability and fuel consumption while reducing toxic emissions when compared to conventional spark plugs. Our strategic partnership with Freepoint is an exciting step forward in bringing this enabling technology to the gas fueled engine market."
"The exclusive marketing agreement is one more way that Freepoint will help bring energy solutions and potential fuel savings to a vast array of energy clients," said David A. Messer, CEO of Freepoint.
About Freepoint Commodities LLC and Freepoint Commerce Marketing LLC
Freepoint Commerce Marketing LLC is a subsidiary of Freepoint Commodities LLC, which was founded by former Sempra Energy Trading executives. Freepoint Commodities LLC is based in Stamford, CT and launched multiple platforms in the energy and metals markets starting in March 2011. Management, employees and private equity funds managed by Stone Point Capital have provided the initial equity capital for Freepoint Commodities LLC and its subsidiaries, including Freepoint Commerce Marketing LLC.
About Enerpulse, Inc.
ENERPULSE, Inc. is a privately held company headquartered in Albuquerque, N.M. Founded in 2004; the company develops environmentally friendly ignition products through the application of pulse power technology. For more information, visit www.enerpulse.com.
SOURCE Freepoint Commodities LLC