NEW YORK, September 1, 2014 /PRNewswire/
QM Power Inc., an enabling platform technology company setting a new high standard for energy efficiency and power density in electric motors, generators and actuators, announced it has been awarded two prestigious highly competitive million dollar awards from the US Department of Energy to expedite its Q-Sync™ motor solution into the commercial refrigeration market and extend it into Heating, Ventilation and Air Conditioning (HVAC) applications with global market share leader Carrier, a unit of United Technologies Corp. and a leading provider to the building systems and aerospace industries worldwide.
"We are very excited to have been chosen for these highly selective and prestigious awards," said PJ Piper, CEO of QM Power. "These awards ideally position QM Power to strengthen its core focus in becoming a preeminent energy solutions company for the HVAC and Refrigeration markets worth over $10 billion worldwide."
In July, the Building Technologies Office of the DoE selected a QM Power project with United Technologies Research Center (East Hartford, Connecticut) to develop higher efficiency low cost electric motors for HVAC compressor and fan motor applications. In addition, the Building Technologies Office of the DOE also awarded QM Power with funding to demonstrate its Q-Sync fan motor technology in commercial refrigeration with supermarkets, OEMs, utilities, Oak Ridge National Labs and retrofit partners across the country. QM Power has developed higher efficiency 7-16 watt fan motors that are often used in commercial refrigeration systems. QM Power intends to install and demonstrate over 10,000 high efficiency fans in more than 50 grocery stores throughout the US, focusing on open display case retrofits that could result in significant energy efficiency improvements. If fully adopted, the technology has the potential to achieve more than 0.6 quads in energy savings in the US (equal to nearly 176 billion kilowatt/hours of energy efficiency improvements) and reduce energy costs by $1 billion.
QM Powers Q-Sync and Parallel Path Magnetic Technologies (PPMT™) are being heralded as next-generation electric motor and generator solutions due to the significant energy-saving, size, weight, reliability and cost benefits for businesses and consumers. QM Power is the first company to commercialize Q-Sync and PPMT technologies backed by ongoing contracts with the Department of Energy, ARPA-E, US Army, US Navy, NASA, National Science Foundation and commercial development partners. QM Powers combination of vertically integrated development capability, world-class team and intellectual property, position the company well to deliver game changing solutions to its customers.
"We are excited to be partners working closely with QM Power as they launch and scale these game changing breakthroughs. QM Power is part of a new generation of dynamic technology companies that we see bringing the next wave of disruptive innovation to the energy sector," said Mark Austin, QM Power Board member and Bright Capital Partner.
About QM Power
QM Power is a private high growth clean technology company developing and commercializing energy solutions for the refrigeration, HVAC, industrial, traction vehicle, power generation, consumer and military markets.
To learn more about QM Power, visit http://www.qmpower.com.
About Bright Capital
Bright Capital is an independent venture capital firm that invests globally in a wide range of promising companies. Its investments are made across multiple technologies in energy and resource efficiency, green technology, industrial biotech. Bright Capital was named "Cleantech Investor of the Year 2012" by the Cleantech Venture Group. The firm works as a merchant venturing entity in a multi-corporate model, building bridges especially between the US, Russia & CIS, Europe, Middle East and South Eastern Asia. To learn more about Bright Capital, visit http://www.bright-capital.com.