FlexEnergy

FlexEnergy Solutions operates as a technology firm that engineers, produces, sells, and leases gas turbine systems designed for continuous, clean energy and heat production. The company’s core offerings, Flex Turbines and Flex Heat Recovery products, provide reliable electrical power for both distributed and grid-connected applications. A key feature of their turbines is the ability to operate on a wide spectrum of gaseous fuels, from low-quality biogas and oilfield-associated gas to pipeline-grade natural gas. The company's history traces back to Edan Prabhu, who started developing a solution to convert low-quality waste gases into electricity in 1999. A significant milestone occurred in December 2010 when FlexEnergy acquired the Energy Systems division of Ingersoll-Rand, including the MT250 gas turbine and a manufacturing facility in Portsmouth, New Hampshire. This acquisition was foundational to the company's current form. Following the acquisition, the company's management decided to focus on turbine sales for the oil and gas industry. In 2013, Flex Leasing Power and Service was established to enhance commercial access and provide localized service for the turbines. The two sister companies merged in the summer of 2019 to form the current FlexEnergy Solutions, maximizing resources and market potential. The business primarily serves industrial and commercial clients requiring consistent power, ranging from 250 kW to 10 MW, particularly in off-grid or remote environments. Key markets include oil and gas for oilfield electrification, manufacturing, and commercial/industrial sectors for combined heat and power (CHP) systems. Revenue is generated through the sale and leasing of its Flex Turbines, with its Flex Heat Recovery products in the early stages of commercialization. For the 12 months ending September 30, 2021, the company booked $22 million in sales. The business model also includes comprehensive service and support, with customizable service contracts covering parts and labor to ensure turbine performance and availability. Flex Turbines are promoted for their reliability in harsh conditions, requiring only one eight-hour service interval annually. The modular systems can be deployed individually or in multiples to operate seamlessly on a microgrid, actively sharing and shedding power to maintain stability. This design provides redundancy, ensuring continuous power even if one turbine shuts down. The company is led by CEO Doug Baltzer, who has been with the company since 2011 and has over 27 years of experience in the energy sector. Keywords: gas turbine generators, clean energy solutions, onsite power generation, oilfield electrification, combined heat and power, waste gas to power, distributed power, off-grid power, microturbines, industrial power, Flex Turbine, heat recovery, energy equipment leasing, remote power solutions, natural gas turbines, low emission power, reliable power, continuous power generation, biogas energy, associated gas power