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Green Stock News - Northwest Pipe Company (NASDAQ: NWPX) and Lucid Energy Technologies Announce PowerPipe
VANCOUVER, WA -- June 10, 2009 - Northwest Pipe Company (NASDAQ: NWPX) and Lucid Energy Technologies, LLP announced today the successful completion of preliminary testing of a renewable power-generation prototype called Northwest PowerPipe™. The innovative system is designed for installation in new or existing water transmission pipelines. When fully developed, Northwest PowerPipe™ (patent pending, worldwide rights reserved) will enable utilities to capture untapped energy from normal pipeline operations without disrupting water flow by transforming excess head pressure into electricity. It is anticipated the systems will be available in 2010.
A version of the Northwest PowerPipe™ prototypes will be on display at the American Water Works Association's Annual Convention & Exposition June 14-18 in San Diego, California, in Northwest Pipe Company's exhibit at Booth 2039. Staff from both companies will be on hand to answer questions and provide information about their micro hydro technology.
The two companies that joined forces to create the innovative technology, Northwest Pipe Company and Lucid Energy Technologies, LLP, are seeking to develop cost effective, alternative, distributed energy solutions. By combining their extensive knowledge of turbine design and water transmission, the two companies expect to bring a revolutionary renewable energy system to the marketplace.
About Northwest Pipe Company
Northwest Pipe Company manufactures welded steel pipe and other products in two business segments. Its Water Transmission Group is a leading supplier of large diameter, high-pressure steel pipe products that are used primarily for water infrastructure in North America. Its Tubular Products Group manufactures smaller diameter steel pipe for a wide range of construction, agricultural, energy, industrial and mechanical applications. The Company is headquartered in Vancouver, Washington and has ten manufacturing facilities across the United States and Mexico.
About Lucid Energy Technologies, LLP
Lucid Energy Technologies, LLP is a clean tech firm in Goshen, Indiana, focused on the design and commercialization of renewable energy systems, which generate electricity from wind and water. Lucid applies its breakthrough technologies in commercial systems, enabling customers to generate renewable electricity on or near the point of consumption and brings energy solutions to the marketplace.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Northwest PowerPipe project described above. These statements reflect management's current information about the project mentioned above and management's current views and estimates of market opportunities and conditions, the expected completion of the product development process and the effectiveness and performance of the final product. Actual results could vary materially from the description contained herein due to many factors including technological developments, market demand, competition, challenges in moving from prototype production to commercial manufacturing, operating effectiveness and efficiencies, and other risks described from time to time in the Company's reports to the Securities and Exchange Commission.
For more information, contact:
Brian Dunham
360-397-6250
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