History of IPT

History of IPT

1974 – Formation of International Power Technology, Inc.

1974 to 1981 – Research and development not related to Cheng Cycle gas turbines.

1981 to 1985 – Development of the Allison 501-KH “Cheng Cycle” gas turbine in conjunction with Allison Gas Turbines of Indianapolis, Indiana.

1985 to 1990 – Commercialization of the Cheng Cycle gas turbine and Cheng Cycle project development activites. Installation, ownership, and operation of six Cheng Cycle cogeneration projects in California.

1990 to 1999 – IPT owned by Elin Energieversorgung, a large Austrian conglomerate. Development of Cheng Cycle cogeneration projects worldwide through IPT Licensees.

1999 to Present – Plant operations, field service, IPT Nozzle Steam systems sales, engine sales and leasing, OEM and PMA parts sales, controls retrofits, equipment sales, power plant procurement.

IPT was among the founders of the cogeneration and independent power business in California. From its formation in 1974 until 1981, IPT mainly performed research and development on power generation technologies. In 1981, IPT and Allison Gas Turbines of Indianapolis, Indiana turned to commercialization of a promising, advanced technology for steam injection of gas turbines. This technology, known as “Cheng Cycle”, is ideally suited for small to medium sized industrial and institutional cogeneration customers.

Most in the cogeneration and independent power business are familiar with IPT’s Cheng Cycle activities. IPT has evolved from a technology development company to an energy service company. IPT took complete responsibility for the development, specification, project development, and startup of the initial Cheng Cycle plants. IPT then assumed long term ownership and OM&M responsibility on behalf of project owners and financiers.

The design of the Cheng Cycle system was largely refined and standardized over the first six installations. By 1987 commercialization was complete, and marketing, sales, and packaging activities were licensed out to selected manufacturing and engineering companies. A worldwide network was thus established with licensees including US Turbine in Ohio, Hitachi Zosen and Kawasaki Heavy Industries (KHI) in Japan, Voest-Alpine in Western Europe and Detco in Australia. Free of Cheng Cycle marketing and manufacturing duties, IPT entered the 1990s as a company focused primarily on OM&M of cogeneration plants. Secondarily, IPT provided design, startup, and operating services to licensees of Cheng Cycle technology. There are now over 130 Cheng Cycle units in operation and more under construction.

In 1990 IPT was acquired by Elin, an Austrian industrial holding company with annual sales of $3 billion, employing more than 14,000 workers, with divisions in industrial plant construction, power generation and electronics.

A management buyout in 1999 by two long time IPT employees has resulted in improved core business focus and enhanced client services. Today, IPT continues to be a leader in providing operations, maintenance and management services to the power sector.

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