Milestones

Milestones

2015
April 14, 2015 IEP Technology Inc. issues exclusive technology license to CASCATA ENERGY LLC
This technology license is targeted at non-hydrocarbon applications wherein the efficient production of high quality waste heat and green baseload power will be utilized in a variety of industrial level combined heat and power applications. “These exciting new areas of deployment for the GFC technology have been on our radar screen for some time and we are anxious to move into non-hydrocarbon applications where the GFC can really make a positive impact on economic, environmental and humanitarian interests” stated Al Forbes, President of IEP Technology Inc.

April 1, 2015 Mark Wall promotion
Mark Wall, formerly Manager of Projects was promoted to Vice President Operations effective April 1, 2015. Al Forbes, CEO of Independent Energy Partners, Inc. and affiliate, IEP Technology, Inc. stated that since joining the firm in March 2012, Mark has consistently shown leadership and professionalism while being responsible for a myriad of projects, technical and vendor relationships. We are fortunate to have Mark on our team and feel this promotion is well deserved.”

March 9, 2015: In-ground test successfully completed at Colorado School of Mines
IEP Technology Inc., completed the final in-ground testing at Colorado School of Mines. The GFC was started up and successfully operated in a bore hole, generating heat and power. Mark Wall, VP Operations stated that “the test objectives of simulating actual in-situ environment, were to develop reliable start up and shut down protocols, and a variety of control methodologies during steady state operation to optimize performance of IEPT’s Geothermic Fuel cell.”

January 22, 2015 Provisional Patent filings
IEP Technology Inc. has filed for additional patent protection on applications using its Geothermic Fuel Cell. Specifically, using the GFC™ for in-situ steam generation for heavy hydrocarbon applications and in unique non-hydrocarbon applications for economic and environmentally sustainable combined heat and power applications, broadening the many compelling business opportunities utilizing the Geothermic Fuel Cell technology.

2014
October 13, 2014: Outdoor in-ground testing begins
IEP Technology installed and started up a complete GFC system outdoors and at a depth of 30ft below the ground. The complete system included three GFC modules, an integrated heat exchange unit, wellhead, fuel reformer and surface support equipment. The 30ft long GFC string was demonstrated to attendees of the 34th Oil Shale Symposium at the Colorado School of Mines. Over the next three months, the GFC system performance envelope will be explored in a actual down-hole conditions. The goal of this test is understand the installation and start up requirements in preparation for the field test in 2015.

September 15, 2014: GFC prototype operates on reformed natural gas
The GFC prototype has been successfully operated with reformed natural gas. A reformer has been integrated with the GFC and has been reforming city natural gas into syn-gas (H2 and CO) which is an excellent fuel for the GFC. Prior to this step, the GFC has been operated on a blend of bottled hydrogen and nitrogen. The GFC has been operating on reformed fuel for a few hundred hours. This is a significant milestone that clears the way for the outdoor test next month.

April 7, 2014: Next generation GFC prototypes delivered
IEP Technology accepted delivery of 2 GFC modules at the Colorado School of Mines. The new GFC modules incorporate design improvements and refinements made as a result of testing conducted last year. The 2 modules were connected together to form an 8ft GFC string inside the Fuel Cell Center. The GFC string will be tested later this month in preparation for the in-ground test to be conducted this summer at the School of Mines Campus.

2013
October 10, 2013: Feature-complete GFC prototype successfully tested at the Colorado School of Mines
IEP Technology’s multi-stack, feature-complete Geothermic Fuel Cell was successfully tested. The GFC was thermally self-sustaining and produced approximately 3kW of electricity and 2300watts / meter of heat output, which is more than required for in-situ oil production. The testing validated the design of the GFC and demonstrated that the concept is viable. Testing will continue through the end of the year. Preparations are underway for an outdoor, in-ground test next year at the Colorado School of Mines.

October 1, 2013: DOE’s SECA program participates in ongoing funding
In partnership with Delphi, IEP Technology received funding from the US Department of Energy’s SECA program. The funding is in support of SOFC system reliability improvement, cost reduction and system testing.

August 6, 2013: Second GFC Prototype Delivered 
Delphi delivered the second GFC prototype to the Colorado Fuel Cell Center at the Colorado School of Mines.  Testing of the multi-stack, 6ft tall “feature-complete” GFC module will begin next month.  The testing will establish the performance envelope of the GFC prior to an in ground test early 2014. 

April 23, 2013: Colorado Fuel Cell Center Successfully Tests the Initial GFC Prototype
The Colorado Fuel Cell Center successfully started up their custom designed and fabricated GFC test system.  They integrated the single stack GFC prototype into their test stand and will continue to test the unit over the next few weeks.

The design for the next GFC prototype is complete.  Delphi has begun manufacturing the unit.  It will be a multi-stack, “feature complete” system that will be tested at the Colorado Fuel Cell Center later this year.

February 22, 2013: Initial Prototype Testing Completed
Delphi successfully tested the single stack GFC prototype at their SOFC testing lab in Rochester, NY.  The initial testing demonstrated that the  Geothermic Fuel Cell TM (GFC) concept of using fuel cells to generate heat to convert kerogen to oil while producing valuable green electricity will work.  The testing indicates that the fuel cells can provide sufficient heat to support the oil shale conversion process.

This validates the study that was conducted by the Department of Energy’s Pacific Northwest National Lab (PNNL) to prove the technical viability of the concept. It has also validated the design direction of the overall system.  The prototype will be shipped to the Colorado Fuel Cell Center at the Colorado School of Mines for further testing.

2012
December 13, 2012: Initial Prototype Built
Delphi completed manufacturing of the single stack system initial GFC prototype.  Basic testing was completed and the unit worked as designed.

November 9, 2012: Agreement Reached With Colorado School of Mines on GFC Prototype Testing
The Colorado Fuel Cell Center at the Colorado School of Mines will conduct extensive validation testing of the Delphi supplied Geothermic Fuel Cell™ units.  The Center will work closely with IEP and Delphi to ensure that the GFC units are capable of being started up and controlled properly.  The 18 to 24 month testing program will be conducted in a both a lab environment and in a simulated down-hole condition, outdoors.

October 2, 2012: IEP signs Agreement with Delphi Corporation to Supply Prototype GFC Units
Delphi will design and build Geothermic Fuel Cell™ modules using their proven Gen 3 SOFC stack.  The 18 to 24 month program is scheduled to deliver the first unit with a single stack by the end of 2012.  The redesign work completed earlier by PNNL paved the way for IEP to utilize Delphi’s stack technology.  The agreement with Delphi reduces the commercialization schedule by 2 to 3 years.

May 30, 2012: Final Report Issued for GFC RE-Design
Battelle-Pacific Northwest National Labs completes re-design efforts for the Geothermic Fuel Cell™ and issues its final report. Results from the enhanced re-design provide the flexibility to work directly with a number of companies in the Solid Oxide Fuel Cell business that can adapt current commercial products to the GFC applications. Timing for remaining commercialization work will accelerate and overall costs for manufacturing will be reduced significantly.

April 19, 2012: IEP, Uintah, Major Oil Company Closing
IEP, its joint venture partner, Uintah Resources Inc., and a major oil company close on a series of business opportunities in connection with the Uintah Gateway Upgrader/Refinery Project, large resource plays and technology applications for development of unconventional hydrocarbon resources. IEP increases its resource holdings and acquires a substantial equity stake in the Gateway project as part of negotiated agreements.

April 16, 2012: Mark Wall Joins IEP as Manager of Projects
Mark Wall joins the firm full time bringing his broad background of engineering, managing projects, strategic partners, technology and industrial manufacturing.

April 4, 2012: John R. Brown Joins IEP as Vice President, Project Finance
John Brown, previously retained in a consulting role on a variety of finance matters, joins the firm as VP Finance with overall responsibilities for corporate finance including setting up and managing internal accounting systems, external audits, tax planning and compliance, cash management, accounting and reporting.

January 30, 2012: Agreement Reached with Battelle/PNNL on GFC Re-design
Agreements are finalized between IEP and Battelle/PNNL in connection with a re-design/optimization for the Geothermic Fuel Cell with a target kick-off date to begin work on February 8, 2012.

2011
March 22, 2011: Design Modifications/Advancements for GFC Proposed

IEP and Pacific Northwest National Labs begin discussions for additional design work on the Geothermic Fuel Cell based on on-going R & D work at PNNL and advancements in SOFC technology and related applications. The design optimization will provide a number of benefits. In addition to significant reduction in manufacturing costs, IEP will be able to work with a number of different SOFC manufacturers, whose current products can be adopted to the GFC platform. Further, remaining tasks to commercialize the GFC will be accelerated using existing industry products.

2010
June 7, 2010: Battelle/Pacific Northwest National Labs completes Phase I Design and Engineering

Initial engineering, analysis and design are completed on the GFC Process by the U.S. Department of Energy’s Pacific Northwest National Laboratories for applications in oil shale. Work progressed with very positive results in the formal report issued in June 2010. Follow-on work will include fabrication of prototype, design optimization, lab testing and field demonstration. On-going engineering and modeling is planned for other unconventional hydrocarbons to include in-situ coal gasification, tar sands and other heavy oil applications.

April 14, 2010: IEP and Uintah Resources Inc. form Joint Venture
Uintah Colorado Partners, LLC is formed between Independent Energy Partners, Inc. and Uintah Resources Inc. in connection with the Uintah Gateway project. The new joint venture provides for the development of an initial 1.9 billion barrels of oil shale resources; mid-stream upgrading/refining; and pipeline to market for oil production from IEP’s mineral leases in Colorado. The agreements include firm commitments at the Upgrader refinery facility, pipeline capacity and purchase of produced oil.

January 25, 2010: John R. Brown Brings Expertise to IEP in Corporate Finance
John R. Brown is engaged by IEP to provide a broad range of services in areas of corporate finance on a consultative basis. John’s extensive background and experience in CFO positions includes all accounting and finance functions, equity offerings, valuations, M&A, business planning and managing relationships with banks and investors.

January 10, 2010: Dr. Gary L. McVay joins IEP as Technical Advisor
Dr. Gary L. McVay joins IEP as a technical advisor and will provide key guidance on Solid Oxide Fuel Cell (SOFC) commercialization and strategic SOFC industry partnerships. Dr. McVay’s distinguished career includes senior management positions at DOE’s Pacific Northwest, Sandia and Argonne National Labs. His current position as Manager, Fuel Cell Programs for the Energy Environment Directorate at Pacific Northwest National Laboratory (PNNL) includes division-level strategic planning and major business development . He has developed several strategic programs including the Northwest Alliance for Transportation Technologies (NATT), High Temperature Electrochemistry Center, Zero Emissions Research and Technology Center and the Solid State Energy Conversion Alliance (SECA).

2009
December 15, 2009: Canadian Intellectual Property Office Issues Patent for GFC

Canadian patents are issued to IEP for its GFC technology. Formal issued patents are received from the Canadian Intellectual Property Office; Canadian Patent No. 2,484,887, dated December 15, 2009–20 years. This Canadian patent combines all of the claims of the previously issued patents in the US.

October 14, 2009: IEP signs Technology License Agreement
IEP and Vineyard Resources, a successful technology and resource developer, sign major Technology License Agreement for the use of IEP’s GFC application. Terms of the Agreement are directed at specific US and foreign resource development opportunities.

September 16, 2009: Total Petroleum commits to participate in ongoing funding
Total Petroleum issues a commitment letter exercising their option under current agreements to be a 25% participant in IEP’s on-going funding for the commercialization of IEP’s Geothermic Fuel Cell technology. This is in addition to Total’s earlier financial and technical support.

2008
September 3, 2008: Phase I Design and Engineering Kicks Off with Battelle/Pacific Northwest National Labs

IEP and TOTAL attend a kick off meeting with senior staff at PNNL regarding design, engineering, analysis and modeling work to commercialize IEP’s Geothermic Fuel Cell application. Detailed review of design and operating criteria, along with Phase I schedule and deliverables are agreed upon with work directed to commence immediately.

August 27, 2008: Independent Energy Partners, Inc. Enters Agreement with Total Petroleum
Independent Energy Partners Inc., (IEP) enters into an agreement with Total Petroleum (TOTAL) for the development of IEP’s Geothermic Fuel Cell (FC) technology and related applications. TOTAL will provide IEP and its technical and strategic partners both financial support and ongoing technical contributions under a technology collaboration agreement. The terms of the agreement are held confidential.

2007
February 27, 2007: US PTO Issues Continuation-In-Parts Patent for GFC

The U.S. Patent and Trademark Office issues US Patent No. 7,182,132 B2-Linearly Scalable Geothermic Fuel Cells providing numerous additional claims to IEP’s original patent. Awarded claims under this ‘Continuation-In-Parts filing adds depth and breadth to the various applications for IEP’s Geothermic Fuel Cell—in particular in-situ recovery of hydrocarbon resources.

2006
March 1, 2006: IEP Announces Agreement with Battelle for Geothermic Fuel Cell Prototype Development

IEP concludes negotiations with Battelle, operator for the U.S. Department of Energy’s Pacific Northwest National Laboratory (PNNL) in Richland, Washington for prototype development of IEP’s patented Geothermic Fuel Cell application. After extensive due diligence in which numerous fuel cell and other research laboratories were interviewed and considered, IEP determined that Battelle presented the ideal mix of laboratory, scientific and engineering expertise. The comprehensive Statement of Work includes detailed computer modeling to optimize GFC efficiencies and establish design parameters for commercialization. It also covers various stages of bench testing that will culminate in the development and demonstration of a working GFC prototype ready for ‘In-Situ’ oil shale applications.

2005
August 31, 2005: IEP Secures Mineral Rights on Colorado Oil Shale Property

IEP enters into an agreement with a group of private landowners that hold mineral interests in Rio Blanco County, Colorado. Under the agreement, IEP has secured the exclusive right to produce energy from the oil shale resources on the property. This property is located near the richest part of the Piceance Creek Basin, and contains more than 1.5 billion barrels of oil and oil equivalent.

April 13, 2005: IEP Retains Sage Geotech for Technical Assessments
IEP retained the consulting firm of Sage Geotech if Rifle, Colorado to produce two technical assessments. The two reports address IEP’s GFC In-Situ method for hydrocarbon production from oil shale and the potential oil recovery from a parcel of oil shale resource that IEP is investigating. The reports are authored by Sage Geotech principal Gary Aho, a well-known expert with decades of experience in the oil shale arena.

January 24, 2005: Roger Wertheimer Joins IEP Management Team
Roger Wertheimer joins the IEP management team as Vice President and General Counsel, and will serve as Corporate Secretary for the Board. Roger brings extensive experience in securities and contractual law and will manage IEP’s negotiation of commercial terms with strategic partners, vendors, investors and landowners, in addition to overseeing all of IEP’s legal matters.

2004
October 15, 2004: IEP Files for Canadian Patents on GFC

IEP files a patent application with the Canadian Intellectual Property Office (Filing no. 2,484,887) in accordance with the International Patent Treaty to obtain GFC patent coverage in Canada. This provides comparable patent protection IEP holds in the U.S. Recognition is gained for the substantial potential application of the GFC for recovery of oil from tar sands and other unconventional resources that are located in Canada.

February 3, 2004: Initial US Patent on GFC Received by IEP
The U.S. Patent and Trademark Office issued patent No. 6,684,948 “Apparatus and Method for Heating Subterranean Formations Using Fuel Cells” assigned to IEP’s inventor and Vice President of Technology Development, Marshall T. Savage. Broad patent awards claims. Particularly of note, follow-on Continuation-In-Parts (CIP) filings on the Geothermic Fuel Cell (GFC) method cover all underground heating applications of fuel cells that are fed air and fuel from the surface. This includes most prominently the production of oil/gas from subterranean formations containing hydrocarbons.

2002 – 2004
Independent Energy Partners reincorporates as a C Corp from its 1991 inception as a project development company and focuses on unconventional oil/gas opportunity.