Overview

International Power Technology (IPT) is an energy company offering a broad range of services to parties interested in cogeneration, independent power, and thermal energy production. IPT customers include owners, operators, developers, and financiers of these energy production facilities. Operations, maintenance, and management (OM&M) and professional services gained in over 1,200,000 operating hours enable IPT-managed plants to achieve maximum efficiency, reliability, and economic performance.

IPT was a pioneer in the modern cogeneration business. IPT's service and management professionals developed and commercialized the Cheng Cycle gas turbine technology. Successfully introducing this sophisticated technology required a diverse set of engineering, management, and field service skills.

The proof of IPT's capability and qualifications lies in the record of outstanding reliability and optimum financial performance experienced by IPT-operated, maintained, and managed plants. IPT's plant availabilities, in excess of 95%, are particularly impressive considering they were achieved with complex, state of the art cogeneration technology. Recognizing IPT's skills, owners of less complex plants, such as simple cycle turbines and reciprocating engines, have requested that IPT turn around their underperforming facilities.

IPT activities can be tailored to the specific needs of a facility or plant owner. IPT can assume complete "turnkey" OM&M responsibility for virtually any thermal or electrical energy production facility. Of course, the majority of plant sites are already well served in some OM&M capacity. In these situations, IPT services can supplement existing resources under either short or long term contracts.

Resources and Personnel

IPT Management Personnel had to act in virtually every capacity required to develop, engineer, construct, operate, and manage cogeneration plants.  IPT's engineering, management, and development experts are now focused on providing these critical services to other owners and developers.

IPT Field Personnel are the best in the business, with plant availability and performance records to prove it.  IPT bases field personnel at operating sites where, through normal shift-work, technicians gain experience on the complete plant, including: genset, HRSG, controls, and balance of plant systems.  IPT operators, technicians, and supervisors have the unusual combination of in-depth expertise on key subsystems with the complete understanding of how the various subsystems work together.

IPT employs over 14 people at the plant sites under its supervision.  IPT is able to rotate field service resources from plant to plant for both emergency calls and scheduled activities such as overhauls, routine maintenance, and inspection.  This pool of talent, generally with long term assignment at an operating facility, means more responsive and more cost effective service for IPT clients.  IPT clients are able to draw from a deeper reserve of talent than would be available from a small field service office.

Company History

IPT was among the founders of the cogeneration and independent power business in California.  From its formation in 1974 until 1982, IPT mainly performed research and development on power generation technologies.  In 1982, IPT 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.  Beginning in 1982, venture capital investors recognized the potential of the Cheng Cycle and provided the capital necessary to build IPT into a successful company.

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 management, and startup of the initial Cheng Cycle plants.  IPT then assumed long term 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 in Ohio, Japan, Western Europe and 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 provides design, startup, and operating services to licensees of Cheng Cycle technology.  There are now over 50 Cheng Cycle units in operation and 3 more under construction.

In 1991 IPT was acquired by 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.

Officers