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TECHNOLOGY
Ener-Core Grants Rights To Make, Sell Industrial Units
Anew licensing and manufacturing deal with Dresser-Rand could bring profitability to Irvine-based EnerCore Inc. after nearly a decade in the red.
The Siemens AG unit has exclusive rights under the 10-year agreement to manufacture Ener-Core's 1- to 4-megawatt Power Oxidizers and to sell the energy-producing units to industrial customers. Ener-Core will receive licensing fees of $370,000 to $600,000 per unit. Dresser-Rand has agreed to minimum sales thresholds, which weren't disclosed.
"It should fairly predictably push us to being a cash flow-positive company starting next year," Chief Executive Alain Castro said.
The company's cash-bum rate is projected at roughly $3.5 million next year.
"The revenue we expect will be north of that," Castro said.
The company, founded in 2008 as FlexEnergy LLC, showed...