The new program removes all financial barriers to abating methane emission in pneumatic devices. Carbon offsets make the program profitable for operators.
Calgary, Alberta, September 8th 2020 Qnergy Inc. (www.qnergy.com) the world leading clean energy manufacturer of Stirling Engines, announced a new program: Compressed Air as a Service (CAaaS). The CAaaS program will help operators finance Qnergy’s compressed air solutions through their operational budget without upfront capital expenses. The package is designed to support companies that want to advance their emission reduction goals while meeting current budget constraints.
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About 20% of the industry’s vented emissions are located at sites that have high-bleed pneumatic devices and unreliable grid electrical power. In the last few years, Qnergy has deployed hundreds of its low maintenance remote power systems in Oil & Gas sites. Since the summer of 2019, Qnergy has successfully deployed its Compressed Air Pneumatic systems (CAP3) in the U.S. and Canada.
The rapidly increasing demand for the CAP3 air-pneumatic systems created a need for a creative financial solution that will alleviate the pressure on capital budgets. The CAaaS solution removes the capital barrier to mass adoption allowing operators to streamline their path to emissions reduction and regulatory compliance, which in some markets also translates into sellable carbon credits.
The new program allows companies to pick the most palatable path based on several options: They can either buy Qnergy’s compressed air system (CAP3) through conventional capital expenditure or buy CAaaS without the capital expense and long-term commitment.
In addition, companies have various options to offset the price with credits. They can submit carbon credits themselves or through one of Qnergy’s carbon advisory partners.
“Operators are under conflicting pressures to concurrently reduce emissions and cut expenses. We are thrilled to participate at the Gastech Virtual Summit and announce a program that not only offers the best technology, but also removes all financial barriers to adoption.” said Ory Zik, Chief Executive Officer of Qnergy.
“The CAaaS contract is very simple. Qnergy installs a CAP3 system and acts like a utility. We only charge for usage of instrument air and electricity. We have tested this simple arrangement with a number of operators and the feedback is extremely positive.” He added.