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SOURCE Scuderi Group, Inc.
Agreement will require Scuderi Group to begin selling electricity to the country of Mexico
WEST SPRINGFIELD, Mass., Oct. 29, 2013 /PRNewswire/ -- Scuderi Group, Inc. announced today the signing of a Memorandum of Understanding with Mexico City-based developer and gaming company AHIS to provide five natural gas-powered Scuderi Split-Cycle Engines for power generation and energy storage in an effort to lower its electrical costs at five southern Mexico properties. The agreement also begins the process for Scuderi Group to be given authorization to generate electricity for the Mexican electrical grid.
According to the agreement, Scuderi Group will build power generation and energy storage units to be installed at five of AHIS' casinos currently housing an average of 350 machines in each location as well as sports/race betting and bingo. The deal will also require Scuderi Group to begin selling electricity to the country of Mexico since Mexican law mandates that any power generation taking place privately must also sell at least the same amount to the regional grid. This opens up major growth opportunities for Scuderi Group.
The Scuderi Split-Cycle Engine incorporates a unique and highly efficient power generation and compressed air energy storage capability that combines the energy of the high-pressure compressed air with the kinetic energy of the fuel to create a significant efficiency gain. When applied to properties with large power demands, the system has the capability to reduce electricity consumption up to 20 percent.
"We are eager to begin working with the energy team at AHIS to design the right systems and to begin reducing their electrical costs," said Sal Scuderi, president of Scuderi Group. "Not only is this an important step in the continued development of the Scuderi technology, it marks what we believe will be the first of many installations in Mexico and the genesis of providing power to larger regions of Mexico. This is an important milestone for Scuderi Group. "
AHIS is a leading gaming company in Mexico since 1993, currently operating 13 casinos around the country with an additional 29 operations in development.
"Electrical costs are an ongoing burden on any business, especially large consumers of power like our casinos," said Carlos Riva Palacio M., proprietor of AHIS. "Using the Scuderi Engine to generate our power will not only free up valuable resources, but will also help our company's continued effort to improve its impact on the environment. We look forward to working with Scuderi Group to put together the best system that works for our properties."
After an extensive review and evaluation of current and future energy usage at the sites, Scuderi Group will design and build the five natural gas-powered electrical generators with CAES capability that will be sized and optimized according to each building's specific requirements. Once the project is underway, more AHIS sites will be evaluated for future installations throughout Mexico and Central America.
The Scuderi engine provides a major advantage when generating power over conventional generators. By utilizing the compressed air storage capability, the Scuderi engine can capture energy produced via the grid, wind, solar and other sources. Energy can then be provided on demand to users less expensively when power is in high demand. The system also increases the reliability and capacity of solar and wind farms so energy does not go to waste in off-peak hours. Because of the unique combustion process, the compressed air energy storage tanks require far less space than conventional compressed air energy storage systems.
About Scuderi Group
Scuderi Group, Inc., is an engine development company that has advanced the design of the internal combustion engine through its split-cycle engine technology known as the SCUDERI™ Engine. Through its Engine Development and Power Generation/Energy Storage engineering efforts, the company has discovered new ways that split-cycle thermodynamics can increase fuel efficiency and reduce emissions beyond what conventional engines achieve today. Additionally, the Scuderi Engine provides the manufacturability and power density required by the world's largest engine manufacturers without the use of exotic parts or changes to the conventional engine block. Scuderi Group holds a patent portfolio that contains more than 500 patents filed and over 200 patents issued worldwide. Scuderi Group is headquartered in West Springfield, Mass., USA, with offices in Frankfurt, Germany and Nagoya, Japan. For more information, visit www.ScuderiGroup.com.
About AHIS Corp.
AHIS Corp. is a gaming and development company based in Mexico City with over 20 years of experience in managing and developing gaming operations in the region. AHIS currently operates 13 casinos with an additional 29 in development. The mission of AHIS is to leverage its multidisciplinary management and operations expertise in the industry to offer customers the most trusted and professional gaming experience possible.
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