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The partnership between Heliex Power and Egyptian Renewable Energy Technologies (EGYREN) marks a significant step for the East Kilbride head quartered company as it prepares to sell into Africa’s second largest economy.
Dan Wright, Founder and Chief Technical Officer, Heliex Power, said: “Egypt is a really interesting new market for us. Spurred on by severe shortages in electricity supply and rising energy prices, Egypt is making the shift towards a greener future.
“There’s currently a focus on wind and solar but Heliex and EGYREN can offer industry clients a cost effective and innovative way to ensure a steady supply of electricity and beat price hikes, while boosting efficiency. The management team at EGYREN are forward thinking and have vast engineering experience and so they’re perfectly positioned to help deliver our patented technology.”
Egypt introduced a Feed-in Tariff scheme in 2014 and set a target to achieve 20% energy from renewable sources by 2022. At the same time, the new government began reducing the subsidies on electricity prices, which has seen prices increase rapidly. It’s predicted that electricity prices will have doubled by 2019.
Khairy Arsanios, CEO, EGYREN, said: “Industries are urgently exploring energy efficiency and it’s our responsibility to offer technologies that really make a difference and are profitable from an investment perspective.
“Heliex's technology ticked all of the boxes, from applicability, to ease of installation and management, and investment profitability. The team behind Heliex has shown great support and we strongly believe that this will be a very strong partnership moving forward.”
Based on a steam screw expander, the Heliex System is a unique rotary device that recovers energy from different heat sources. Recent installations include a waste incineration plant in northern England, a Scottish distillery, Italian glass factory and a UK chemicals plant.
The company currently works with 21 sales channels globally, including distributors, marketing partners and original equipment manufacturers.