KGRA Energy secures USD 2.75m funds for waste heat recovery system

(ADPnews) – May 10, 2011 - US power plant developer KGRA Energy said yesterday one of its project companies had received a USD 2.75 million (EUR 1.9m) financing for the installation of a 2 MW waste heat recovery system in Bradford County, Pennsylvania.

The secured funding, provided by Commonwealth Financing Authority and Pennsylvania Energy Development Authority, will enable KGRA to break ground on the project by the forth quarter of 2011. The installation will use organic Rankine cycle to recover waste heat and convert it into electricity at a Marcellus Shale based gas compression facility.

KGRA Energy's systems use the organic Rankine cycle to recover waste heat from viable sources, such as combustion engine exhausts, furnaces, boilers, and kilns, converting it into CO2-free electricity, which lowers energy costs as well as heat pollution.

(USD 1.0 = EUR 0.699)

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