Special Power Sources Acquisition Announcement - Official

Oct 19, 2019

For immediate release:

 

October 23, 2019

Special Power Sources, LLC (“SPS”, the “Company”) has acquired all Atrex Energy (“Atrex”) assets including equipment, Intellectual property, licensing rights, and associated technical data related to the development, manufacture, and field support of Solid Oxide Fuel Cells (“SOFC”) power sources. As part of this transaction, SPS has acquired the rights to Hybrid Energy Storage Module (HESM), a key technology to modernized power storage solution. 

SPS is relocating the Atrex assets to Alliance, Ohio in collaboration with Advanced TechWorks (“ATW”), a SOFC R&D/Manufacturing group comprised of a core of former LG Fuel Cell Systems’ staff.  SPS and ATW will strategically support the R&D, manufacturing, and Field Service for current and future SOFC/HESM products.

“With this acquisition of Atrex, Special Power Sources' strategy is to become the premier SOFC R&D Industry leader for DoD/DoE as well as commercially leading to reliable, remote continuous power running on renewable fuels in the range of 250W to 5kW+ serving the Oil & Gas, Telecom, Transportation and Mining industries," explains Roland Dixon, President of Special Power Sources. Ted Ohrn, CTO, also commented, “Advanced TechWorks as a strategic partner brings expert knowledge in SOFC system technology and innovation coupled with the outstanding high-power bundle technology of Atrex Energy. With the unified approach, we are better positioned to support and provide collaborative power solutions that are best positioned for future and fielded versions of our current products.” 

Special Power Sources, LLC has exclusive rights to all Atrex Energy technology and products worldwide except for India, South Korea and Africa. This includes the 600+ delivered systems in the continental United States, Canada and Mexico. Special Power Sources and Atrex finalized this agreement on 19 October 2019.  During the interim period until further notice, all inquiries concerning this acquisition and to request information, sales, and field services support should be directed to: http://www.atrexenergy.com

 

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