Helidyne raises $1M in Series-A funding

Aug 25, 2014

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Washington, Utah – Helidyne LLC, has raised $1 million in series-A funding from its equity partner to finance completion of its first order for off-shore power generation equipment to Pemex –the world’s 6th largest oil & gas producer. Funds will also be used to construct a permanent test stand at the Red Rock Generating Facility in St. George, Utah.

Founded in 2008, Helidyne has developed new rotary positive displacement (PD) expansion technology for gas let-down applications. The unique planetary rotor design is self-cleaning, certified to 1,440 psi (a rating three times higher than its competitors), and can handle “wet” inlet gas conditions. Also, because the expander is non-combustive, it’s emission free. And if used for waste pressure recovery, qualifies for renewable tax credits. Other applications include gas processing, where it can be used as a JT bypass expander for greater natural gas liquid (NGL’s) recovery.

The 4 units sold to Pemex will be installed on two production oil platforms located in the Gulf of Mexico. Sold in pairs for redundancy, they have a rating of 60kWe each. They will be driven using high pressure natural gas or nitrogen sourced from on-shore compressor stations.

Cofounder and CEO Kevin Kerlin states: “The unique planetary design allows the expander to operate in environments most competitors find too difficult to manage. So it’s been exciting to see customers come to us with applications we’ve never considered before; such was the case with Pemex. While providing power generation packages for off-shore platforms is our current play, I think we will find many new opportunities in the gas processing market.”

For more information contact:

Jennifer Christensen: jchris@helidynepower.com

435-627-1805


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