CHARLESTON, SC – HY-STOR Technologies, a Charleston-based company that commercializes scientifically-proven and affordable clean energy technologies, has signed a $10 million master agreement with an Austin, Texas, company to distribute more than 1.3 million of HY-STOR’s Tri-Generation Home Energy Systems. The systems provide residential power, HVAC, hot water and back up batteries capable of removing homes off the power grid.
HY-STOR will design and manufacture the systems using patented hydrogen technology, and Builder Power, LLC, will license the technology. The agreement, which alone could mean gross revenues exceeding $2.5 billion, according to company executives, spans a 5-year period where HY-STOR will provide the platforms to new home builders with whom Builder Power contracts.
The technology behind the home energy platform is called Reversible Hydrogen Hydride science and is the same technology employed in NASA’s Hubble Space Program and the Viking Moon Probe. It essentially creates energy using metal hydride alloys to absorb, store and desorb large quantities of hydrogen. The process allows for the safe use of hydrogen as it moves from a gaseous state to a totally safe, metal hydride state, which creates energy that could make electricity from waste heat, drive a piston, run an engine or spin a turbine to make power.
“This game-changing Hydride-based home energy system will be capable of delivering all the electricity, air conditioning and hot water a residential home would need. Plus, it has a built in back-up battery system," says Walt Thorn, COO of HY-STOR Technologies.
At a projected system cost of $18,000 for a 3000-square-foot home, there is less than $90/month added to the cost of an average new home mortgage. Savings on utilities could be $300 per month or more in South Carolina and more in Texas where the energy costs are even higher. “This could mean immediate cash flow to the homeowner who will see a 90% or more reduction on their energy bill,” says Thorn. "Since it replaces the traditional HVAC system cost, the impact to the actual home price is mitigated."
HY-STOR is currently in talks with manufacturing partners who have world-wide capability to supply this order quantity with an eye on comparable markets within the US military. With Congressional mandates to reduce energy costs worldwide, the US Army has expressed "significant interest" in beta units for testing at major military facilities in North and South Carolina, which could lead to global sales of the systems.
About Hy-Stor Technologies
HY-STOR Technologies is a Charleston, S.C.-based company who commercializes affordable clean energy technologies that have been scientifically proven. With longtime local businessman Walt Thorn as co-founder, HY-STOR actively searches for economically-viable and environmentally-friendly technologies, then brings together the partners and funding to take the products, such as the Tri-Generation Home Energy System, to market. Other sample platforms include industrial grade rechargeable batteries for Telcom cell towers, heat-to-electricity power generation for the natural gas pipeline industry and cooling/refrigeration applications for commercial and industrial use. For more information, call 843-478-7998 or email Walt Thorn at firstname.lastname@example.org.