MAHWAH, N.J., Sept. 24, 2012 -- The potential value to InterCore Energy, Inc. (OTCBB:ICOR) of its intended acquisition of the Legacy Group was highlighted indirectly yesterday in a front-page article in the Sunday, September 23rd, edition of The New York Times.
"Power, Pollution and the Internet" focused on the enormous electricity requirements of data centers and the large usage inefficiencies in the majority of such centers. According to the article, at an early time in Facebook's growth, it was "…packing a 40-by-60-foot rental space with racks of computer servers that were needed to store and process information from members' accounts. The electricity pouring into the computers was overheating Ethernet sockets and other crucial components."
Efficient and effective use of energy is an area that has been a focus of InterCore Energy, and the issue that was faced by Facebook in 2006, and is faced by many data centers today, is one that is in the crosshairs of the Legacy Group, with which InterCore Energy has an acquisition letter of intent. Legacy states that it has developed a very low power, highly efficient cooling system for use in portable data centers, oil and gas power systems for drilling rigs, and potentially adaptable for commercial and residential use.
Thus, the intended acquisition of the Legacy Group reinforces InterCore Energy's focus on clean energy technologies. James F. Groelinger, InterCore's CEO, said: "Irrespective of the volatility of energy prices and the shifts in basic energy sources that we're starting to see, a fundamental personal and business principle has been the need to efficiently use energy and, more broadly, all scarce resources. I expect our acquisition of the Legacy Group to be only the first in a series of investments aimed at making energy usage more efficient and cost-effective."
The size of the data center market is enormous. According to the Times article: "Worldwide, the digital warehouses use about 30 billion watts of electricity, roughly equivalent to the output of 30 nuclear power plants…Nationwide, data centers used about 76 billion kilowatt-hours in 2010, or roughly 2 percent of all electricity used in the country in that year…"
Groelinger continued: "Valuing the national data center consumption at 5 cents/kWh puts a total price tag on the electricity of $3.8 billion, so even a savings of 1% would be worth $38 million annually. That's a sense of the potential magnitude of Legacy's market opportunity."
About InterCore Energy, Inc.
InterCore Energy, Inc. is a public company that, in addition to managing its own operating entities, plans to participate in emerging companies in the energy sector that are run by exceptionally talented entrepreneurs and operating executives who are dedicated to creating positive change in our world. InterCore functions as an owner, product developer, and investor focused primarily on providing equity, acquisition debt, or bridge financing to emerging high-growth companies and entrepreneurs in the area of clean energy. See www.intercoreenergy.com
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). InterCore Energy, Inc. cautions that statements made in this news release relating to the potential investment in, and the business direction of, the Company constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates, and assumptions made by management. Actual results could differ materially from current projections or implied results. InterCore Energy, Inc. undertakes no obligation to revise these statements following the date of this news release.
MELISSA J. DIAZ
SOUTH STREET MEDIA, INC
PHONE: (917) 937-8968
SOURCE InterCore Energy, Inc.