Altira Extends Its Leadership Role in Alternative Fuel Investing by Funding
Transportable Nuclear Power Manufacturer Hyperion Power Generation
DENVER, April 16 /PRNewswire/ -- Altira Group LLC -- the pioneer and
leader in venture capital and private equity funding for energy technology
companies -- announced today an investment in Hyperion Power Generation, Inc.
(HPG), of Santa Fe, New Mexico. HPG is developing a new type of small,
self-contained, transportable nuclear power reactor to produce heat, steam and
electricity for a variety of commercial applications that require reliable
power independent of the common grid.
Altira's investment in HPG was made out of the recently closed Altira
Technology Fund V -- a $176 Million fund focused on venture capital for energy
technologies.
Hyperion Power Generation (http://www.hyperionpowergeneration.com) has
licensed technology from the Los Alamos National Laboratory (LANL). Under the
Technology Transfer Program, HPG has the commercialization rights to
introduce, license, manufacture, market and distribute the reactor invented at
LANL.
About 4,000 units of the initial design will be manufactured at a new
U.S. site yet to be determined. The initial reactor will be a compact,
self-regulating, self-contained design with no moving parts and about the size
of a hot tub. Sealed at the factory, the module is not opened until it is time
for the unit to be refueled -- at the factory -- approximately every five
years or so. This helps guard against tampering.
Since it is portable, the reactor can be deployed virtually anywhere power
is needed -- remote industrial operations such as the Alberta oil sands,
military installations or communities looking to supplement grid-supplied
power. Once deployed, the Hyperion module delivers approximately 70 megawatts
(MW) of heat (thermal energy) and 25 megawatts (MW) of electrical power via
steam turbine. This is enough power to provide electricity for a community of
20,000 average-sized, American-style homes. Hyperion modules can also be
"ganged" to provide even more power.
"For over a decade Altira has been committed to providing equity capital
for the energy world of the future," said Peter Edwards, partner at Altira and
a board member of Hyperion Power Generation. " We look to partner with
companies who are developing transformative technology to meet increasing
global demand. HPG's technology will have a prominent role in the energy world
of the future, providing a safe, compact, near-zero-emission, waste-efficient
source for thermal and electrical energy."
"We are excited to have Altira as a partner," said John R. (Grizz) Deal,
President and CEO of Hyperion Power Generation. "They are a seasoned
investment firm with a good track record of partnering with companies and
achieving success. This investment will help us reach our vision of bringing
the benefits of nuclear power to locations where the option was never
available before. It's also a big opportunity to create new jobs and assist
the U.S. in securing its position as a leader in the quest for clean energy."
About Altira Group
Altira Group LLC (http://www.altiragroup.com) is a Denver based private
equity and venture firm that has profitably invested in energy technology
companies for over 12 years. Their portfolio includes companies in both the
traditional and renewable energy sectors. Altira pursues opportunities to
commercialize transformative technologies that drive efficiency and
productivity gains throughout the energy value chain while reducing the carbon
footprint.
Altira is currently investing out of its fifth fund. The typical initial
investment is in the $5-$10 million range, with follow-on investments as
warranted. Altira seeks investment opportunities led by experienced and
dedicated management teams who are commercializing new energy technologies
with high growth potential.
SOURCE Altira Group LLC
Lori Herr of Altira Group LLC, +1-303-592-5505, lherr@altiragroup.com
