Our nation is facing significant energy and environmental challenges. Our consumption and dependence on fossil fuels is staggering. “Traditional sources of power such as coal, oil, and natural gas provide more than 85% of all the energy consumed in the US, nearly two thirds of our electricity and virtually all of our transportation fuels.” According to the Electric Advisory Committee, “the current power generation infrastructure is aging faster than it is being replaced. We are therefore relying on a power infrastructure built in the 1950s and 60s.” The Annual Energy Outlook for 2011 with projections to 2035 mention that “Total US consumption of liquid fuels including both fossil fuels and bio-fuels rises from about 18.8 million barrels a day in 2009 to 21.9 million barrels per day in 2035.”
The US also suffers from an aging inventory of coal fired power plants and many may be shut down before the end of the decade. At a recent Renewable Energy conference regarding coal plants Secretary of Energy Steven Chu stated that “Were going to see massive retirements within the next five to eight years.” New regulations for coal plants will force the closures and new idle emission regulations will force trucking companies to seek low emission APU solutions to power idling trucks overnight.
To make matters worse, more than half of our nuclear power plants had serious issues with emergency power back up in a recent NRC report and two are in serious danger due to the recent floods. With the recent tragic incident in Japan, people have growing concerns about the safety of nuclear energy.
Alternative and renewable energy will beyond a shadow of doubt play a critical role in the future of our increasing energy needs and demands. The outlook for alternative energy sources is very positive. President Obama recently stated that “the US should require that 80% of its electricity come from clean sources by 2035.” We are a long way from 80% yet the need for energy innovation is now to meet future load growth. Several states have agreed to cut and reverse the growth in Co2 emissions and 30 states have enacted enforceable renewable portfolio standards with California imposing mandatory restrictions on greenhouse gases effective January 2012.
This urgent need for a clean alternative energy source has driven MagLev Energy, Inc. (MEI) to develop a new power generation technology that uses no fossil fuels to operate with a 75% efficiency rating. MEI was incorporated in 2005 as a private research and development company that has built three working prototypes currently occupying space in an industrial office complex in Largo, Florida. MEI has a patent for the technology which was issued on April 1, 2008.
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Alternative Energy Overview- Carolyn Allen
Department of Energy- Electric Advisory Committee
US Energy Information Administration-Annual Energy Outlook 2011-April 2011
Massive Closure of US Coal Plants Loom article- February 9, 2011- Secretary of Energy Dr. Steven Chu & President Obama comments
Nuclear Regulatory News- May 20, 2011
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MEI plans to expand operations, build out vertical markets, introduce and market MEI’s technology to the industry and commence the mass production of units for this breakthrough technology.
MEI will be priced below competitive products in each vertical market it plans to effectively compete. MEI’s truck APU solution is emission elimination APU verses traditional emission reduction APUs. Vertical markets under consideration with current discussions with market leaders include:
- Truck/RV APU
- Home/Industrial back up & supplemental power
- Cell tower back up power
- Defense applications
- Pump/Compressors
Strong market demand for a clean alternative energy source will fuel MEI’s growth. Discussions are currently underway with the market leader in the home, industrial and RV power generator market, an international cell tower manufacturer, top trucking companies, and a government contractor for a defense application suited for MEI’s technology.