News
South East Power Engineering
Date:
28/07/2009
- Category:
Environmental
Summit recently took an investment interest in the hydro equipment designer South East Power Engineering Limited.
South East Power Engineering
28/07/2009
Summit has taken an equity position in South East Power Engineering Limited ("SEPEL"), a business that is pioneering the development of exisiting Archimedes screw technology for use in hydro power production.The Archimedes screw style water pump has been in use for many centuries, dating as far back as 700BC when there is evidence of it’s use in Mesopotamia. Archimedes screw pumps are currently used for flood control by the Environment Agency and for moving effluent through sewage treatment plants.
SEPEL has introduced new technology which makes the technique commercially viable, and produces completely carbon free electricity.
Summit, which has been actively funding environmentally friendly power generation and renewable energy production equipment for over 10 years was delighted to be able to invest in a business, and an asset type, that complements Summit's other interests in this critically important sector.
Summit is now working with SEPEL on the funding of a series of projects within the hydro sector, with the intention of delivering low carbon sources of power generation that benefit both UK electricity consumers and the environment.