CRANBURY, New Jersey, July 30 /PRNewswire/ --
- Non-Exclusive License with Akridge Energy to produce up to 400 MW of continuous power
BlackLight Power (BLP) Inc. today announced the execution of its sixth commercial license agreement and first with Akridge Energy, LLC (Akridge Energy), based in Maryland. In a non-exclusive agreement, BLP has granted Akridge Energy a license to use the BlackLight Process and certain BLP energy technology for the production of electric power in Maryland, Virginia and the District of Colombia. Akridge Energy may use the technology to produce electric power up to a maximum continuous capacity of 400 megawatts (MW).
Akridge Energy intends to deploy distributed-scale electric power units at commercial real estate properties and sell electricity to tenants and eventually into the local electric grid.
We believe BlackLight Power has developed a new energy technology that will have a profound impact on the environment and the economy and will help us achieve our goal in becoming a major, green-power producer in the greater-DC market, said John E. Akridge III, chairman and owner of Akridge Energy. We are excited to be one of the early-adopters of BLP's energy technology. Mr. Akridge is also a shareholder of BlackLight Power.
To date, BLP has licensed the rights to produce approximately 8,000 megawatts of electrical power to five utilities, two of which are publicly traded companies, and one independent power producer. Collectively, these companies own, purchase, or manage electric power production of approximately 7,600 megawatts and provide service to approximately 985,000 customers.
About BlackLight Power
BlackLight Power Inc. is the inventor of a new primary energy source and a new field of hydrogen chemistry with broad commercial applications. This new primary energy source may have applications to heating, distributed power generation, central power generation, and motive power based on a new chemical process of releasing the latent energy of the hydrogen atom, the BlackLight Process.
For more information, please visit http://www.blacklightpower.com/
About Akridge Energy
Akridge Energy, LLC is wholly owned by John E. Akridge, III, who is also Chairman and owner of Akridge. Founded in 1974, Akridge Energy is a full-service commercial real estate firm in the Washington, D.C. area. Akridge's projects total over 12 million square feet of office, industrial/flex, residential, retail and entertainment space at a value of over US$2.0 billion.
For nine of the last ten years, Akridge Energy has been ranked the number one real estate firm in the country, among firms of similar size, for Client satisfaction by the industry's foremost benchmarking firm, CEL Associates. Akridge Energy has been honored by awards for sustainability from the following organizations: the Greater Washington Board of Trade, the Washington Business Journal, Bisnow on Business, the District of Colombia's Department of the Environment, the Smart Business Network of Washington, and the Environmental Protection Agency's Energy Star Program. Akridge Energy is the winner of the National Capital Business Ethics Award given by the Society of Financial Service Professionals for ethical business conduct and is recognized as a Best Place to Work in Greater Washington according to the Washington Business Journal.
For more information about Akridge, please visit www.akridge.com
Media Contacts: Ramya Kumaraswamy Hill Knowlton for BlackLight Power Inc. Mobile: +1-646-552-8639 Office: +1-212-885-0552 ramya.kumaraswamy@hillandknowlton.com
SOURCE: BlackLight Power
Ramya Kumaraswamy of Hill Knowlton, Mobile, +1-646-552-8639, Office, +1-212-885-0552, ramya.kumaraswamy@hillandknowlton.com, for BlackLight Power Inc.
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