EDINBURGH, England, Feb. 14, 2011 /PRNewswire/ -- NGenTec will present at CleanEquity Monaco 2011; the conference is on March 3rd & 4th at the Sporting d'Hiver, Monaco.
NGenTec was included, by expert selection, as one of the world's most inspiring cleantech companies, to present to industry-specific, senior financial and strategic investors, policy makers, legislators, end users and media.
NGenTec is a spin-out company from the University of Edinburgh's School of Engineering, where the technology was pioneered by the firm's founders, Dr Markus Mueller and Dr Alasdair McDonald. The company, which was incorporated in 2009, aims to become the leading supplier of direct drive permanent magnet generators to the renewable energy sector. Initially NGenTec is targeting the multi-MW offshore wind energy market and recently signed an industrial partnership with global gearing company David Brown that aims to bring the first products to market by 2013.
NGenTec has developed a step-change in generator technology. The company is working on a 1MW prototype of its 'C-GEN' generator, but ultimately expects to prove its technology at 10MW scale and beyond.
The novel direct drive generator eliminates magnetic forces between moving and stationary parts of the turbine. It is up to 50 per cent lighter than other direct drive permanent magnet generators, and its modular design lends itself to be cost effective and highly reliable. It is designed to be efficient through its full operating range.
The technology also has application in wave, tidal and onshore wind energy.
Chairman and acting-CEO Dr Derek Shepherd and Director Dr Derek Douglas CBE will be representing NGenTec at CleanEquity Monaco 2011. Dr Derek Shepherd was formerly Managing Director of Aggreko International and a main board director of Aggreko PLC for 11 years. In this role he grew the international business into a billion-dollar enterprise. Dr Derek Douglas CBE of Adam Smith Ltd raised round 1 funding for NGenTec.
Innovator Capital, the London specialist investment bank, hosts the annual invitation-only event. CleanEquity Monaco's regional host is the Monaco Chamber of Economic Development.
Other local partners include Prince Albert II of Monaco's Foundation, the Monte Carlo SBM, and the Stelios Philanthropic Foundation. Collaborators for the 2011 event include The United Nations (UNEP Fi), Covington and Burling, PR Newswire, The Carbon War Room, Invest Securities, 21 Ventures and Biocode Incubation.
CleanEquity Monaco 2011 contributors include The Monaco Chamber of Economic Development (Monaco), Covington and Burling LLP (Washington DC), PR Newswire (New York), The Stelios Foundation (Monaco), The Carbon War Room, 21 ventures (New York) Invest Securities (Paris), Biocode Incubation (Tokyo), the Societe des Bains de Mer (Monaco), Allen & Caron (New York), Alize RP (Paris).