ENER-G takes majority stake in US firm

GREEN power specialist ENER-G group has increased its presence in the Americas with an investment in a New Jersey business.

The Salford-based group has taken a 75% stake in New Jersey co-generation business Rudox to accelerate expansion in the growing American combined heat and power market.

The new venture already has a £63m pipeline of sales opportunities.

The new ENER-G Rudox business will design, develop, manufacture and install energy efficient combined heat and power (CHP) systems from Rudox’s production facility in New Jersey.  

Existing Rudox owners, the Goodman family, will retain a 25% stake in the new company.

ENER-G’s Salford production facility and R&D xentre will continue to drive innovation and produce combined heat and power systems for customers in the UK and Europe, as well as other export markets.

Chris Hayton, new chief executive of ENER-G Rudox Inc, said: “This union between clean technology companies ENER-G and Rudox brings together a collective 90 years of market leadership in cogeneration and provides a strong and solid platform for growth.”

“With Rudox’s engineering and manufacturing capabilities and extensive network of service engineers, we can deliver and fund combined cooling, heat and power solutions to an American market that is seeking to save money on energy and improve green performance.

“In the aftermath of Hurricane Sandy, the benefits of CHP as a source of secure energy and emergency power are also driving demand.”

Ryan Goodman, president of cogeneration for ENER-G Rudox Inc, said: “We are proud to join together with ENER-G, which is a European market leader in cogeneration.

“This investment gives us the capability to accelerate expansion and enables fully financed energy solutions, so customers have the option to pay as they save, without making any capital investment in energy saving technology.”

ENER-G entered the USA market in 2011 and has recently commissioned a 2,454 MWh combined cooling, heat and power (CCHP) system at St. Peter’s University, New Jersey.

As well as the US, ENER-G is active in Mexico, South Africa and in several European countries including Italt and Romania.