Source: Nashville Post
Thompson Machinery-backed venture snaps up assets from scientific R&D partner
Published October 16, 2012 by Geert De Lombaerde
Two-year-old PHG Energy, which makes and installs gasification systems that generate a synthetic fuel, has bought some intellectual property pertaining to energy conversion technology from scientific development corporation Associated Physics of America, a key partner since its inception.
The purchase, the terms of which were not disclosed, also called for La Vergne-based PHG to bring on board APA’s research, manufacturing and administrative personnel.
“Advancing the development of the product and its many applications is a major part of our plans for the future,” said PHG Energy President Tom Stanzione. “The most exciting aspect of our agreement, however, is adding six very talented and experienced people to our company. This group has worked closely for years in scientific research, product development, manufacturing and installation. For PHG Energy to bring such a quality team on board together is truly remarkable.”
PHG’s systems convert waste materials or renewable biomass into a fuel gas that burns like natural gas. The fuel can be used in kilns and boilers or to produce electricity via various types of generators.
Officials at PHG, which is backed by Thompson Machinery and APA, said the latter’s research and manufacturing facility in Greenwood, Miss., will remain a part of PHG Energy’s development and testing program.