Q2Power Technologies, Inc. Enters Collaboration Agreement with Phoenix Power Group

Q2Power Technologies, Inc. (OTCQB:QPWR) has entered into a Collaboration Agreement with Phoenix Power Group. This agreement provides cross licensing rights between the two companies for Q2Power’s waste-to-power engine and controls, and Phoenix’s waste liquid fuel combustion system.
According to the press release:

The agreement streamlines the process of manufacturing and launching into the market these valuable renewable power systems over the following two quarters.
Phoenix is a developer of combined heat and power systems (“CHP Systems”) that run on used motor oil and other waste fuels. Currently over 60,000 oil change shops and similar locations throughout North America heat their facilities utilizing furnaces that comprise the core of Phoenix’s CHP System. Phoenix has developed the technology to utilize this furnace equipment to provide thermal energy for Q2Power’s engines, thereby providing added electric power and peak demand shaving for potentially tens of thousands of locations regardless of seasonality or geography.
“This is an important agreement for both parties, as it provides a strong working foundation to commercialize our waste-to-power products with added CHP benefits — a key to increasing energy efficiencies of U.S. businesses and reducing carbon footprints,” stated Christopher Nelson, Q2Power’s CEO. “Both parties will now be able fast track plans for market penetration at both traditional oil change locations and other niche markets where the disposal of waste fuels presents a financial burden and ‘cradle-to-grave’ liability for the business owner. This is potentially an enormous market opportunity.”

Click here to read the full press release.