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Anax Power, Magellan Scientific, and Enbridge to Deploy Turboexpanders in Ontario & Pennsylvania

1. Enbridge partners with Anax Power to harness clean energy from natural gas. 2. Projects add 3.5MW of emissions-free capacity in Pennsylvania and Ontario. 3. The ATE technology improves server efficiency while reducing greenhouse gases. 4. Enbridge aims to scale ATE installations across North America. 5. This collaboration aligns with Enbridge's sustainability goals and community impact.

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FAQ

Why Bullish?

The partnership positions Enbridge as a leader in clean energy technology, which could increase investor confidence and demand. Historical moves in the clean energy sector indicate strong stock performance amid such innovations.

How important is it?

The collaboration with Anax reflects Enbridge's commitment to sustainability, likely attracting long-term investors. Increasing energy demands and environmental concerns make this strategic move highly significant.

Why Long Term?

The agreement could lead to scalable future projects, indicating sustained benefits over time. Similar past partnerships have boosted companies' long-term growth trajectories in renewable energy.

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ANAXMGNL
WHARTON, N.J.--(BUSINESS WIRE)--Anax Power (www.anaxpower.com), whose proprietary technology generates clean power from natural gas, without combustion, has signed Operating Agreements with Enbridge (www.enbridge.com) to install its Anax Turboexpander System (“ATE”) at locations in Pennsylvania and Ontario, Canada. The projects will add up to 1.5 megawatts (MW) of clean energy capacity to Enbridge’s system at Hamilton, Ontario and up to 2MW in Pennsylvania. This emissions-free power will be consumed in Magellan Scientific’s (www.magellanscientific.com) co-located, modular, off-grid data centers.“This collaboration reflects our ongoing commitment to reducing greenhouse gas emissions through innovative, sustainable solutions” said Steven Greenley, Senior Vice President of Commercial, Enbridge GasShare The ATE uses the pressure and flow of natural gas within Enbridge’s pipeline to drive a turbine and generate zero-emissions electricity, without burning natural gas or releasing greenhouse gases. The Pennsylvania project marks Anax and Magellan’s second installation in the state, and the Hamilton project will be the first ATE installation in Canada. Keeping with its sustainability pledge, Enbridge is the first major pipeline in North America to adopt the ATE, which could scale to hundreds of locations across Enbridge’s system in the coming years. Anax will install up to three (3) ATEs at an Enbridge facility in Ontario and up to four (4) ATEs in Pennsylvania. Both projects will be integrated with Magellan’s co-located, modular, off-grid data center. The resulting turboexpander-data center system self-generates clean, base load power, and uses excess cooling to improve server efficiency and thermal management. “These projects represent monumental milestones for Anax, and we believe this will be the start of a long partnership with Enbridge and Magellan as we scale across North America,” said Michael Longo, CEO of Anax Power. “By turning waste energy into clean electricity, this installation demonstrates how Anax makes existing energy infrastructure more sustainable—right now, with proven technology.” The Enbridge projects expand Anax and Magellan’s portfolio of clean power projects and validate using turboexpanders to meet climate goals in a profitable way. “Data center demands for electricity are exponentially increasing,” said Christopher Halvorson, President of Magellan Scientific. “Pairing our off-grid immersion data centers with the ATEs provides a source of 24/7, emission-free electricity. The turboexpander also helps to manage excessive heat from the data center by providing cooling at zero incremental cost.” “This collaboration reflects our ongoing commitment to reducing greenhouse gas emissions through innovative, sustainable solutions,” said Steven Greenley, Senior Vice President of Commercial, Enbridge Gas. “We take pride in utilizing our natural gas systems to champion environmental initiatives to enhance the well-being of the communities we operate in.”

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