New Breakthrough Technology Uses Municipal Water Supply to Help Dramatically Lower Energy Bills

FORT WAYNE, IN—WaterFurnace International, Inc. in Fort Wayne, Indiana, has formed a joint venture with Hardin Geotechnologies in Indianapolis, Indiana, to market a breakthrough technology that will revolutionize the HVAC industry.

The joint venture, known as Water+‘, is based upon a patented process developed by Jim Hardin, founder of Hardin Geotechnologies, that delivers potable water from the local utility company to any home or commercial building as a free source of heating and cooling.

Water+ is an independent operation available to all heating, air conditioning and refrigeration manufacturers who make geothermal or water source units. Geoexchange or geothermal systems, which are up to 60% more efficient than conventional heating and cooling systems, operate by moving the free energy that's stored in the earth into a home or building via a loop system. Traditionally, these loops require high front-end installation costs. Now with Water+ as the loop, it's possible to eliminate installation costs and receive the comfort of a high efficiency and environmentally-friendly geothermal system while dramatically lowering utility bills.

According to Bruce Ritchey, President/CEO of WaterFurnace, "This technology changes the economics of heating, cooling and refrigeration. It eliminates the need for rooftop units and cooling towers on commercial buildings and outdoor air conditioners for homes. The cost of the system will be equal to or less than conventional systems but will be dramatically more energy efficient with lower maintenance costs."

The best applications for the this system are residential housing subdivisions, commercial buildings, and developments within a short distance to a water plant or substation to minimize the cost of the Water+ return line. The first application using this technology is an elementary school in Comanche, OK, that uses the city water supply to provide water for its geothermal heat pumps.

Conn Abnee, Executive Director of the Geothermal Heat Pump Consortium feels the Water+ system will significantly increase the number of geothermal installations throughout the U.S. and Canada. "This new technology has the potential to move geothermal energy out of the niche market category into the conventional construction market. It is a renewable energy source that will out-perform any conventional system over time, and now is more affordable in initial cost." The GHPC is a non-profit organization funded by grants from the Environmental Protection Agency, Department of Energy and through membership fees from HVAC manufacturers and electric utilities around the country.

The Water+ technology will also benefit builders and developers, utilities, and local and state economies. "This is a win-win technology for everyone," continued Ritchey. " Building owners save money on lower fuel costs-- it's like a tax cut for consumers. Water utilities benefit from the additional revenue. It also positions them as an attractive alternative to new industry development. Electric utilities win because the system lowers energy usage during the summer when they need to avoid brown-out situations and increases the load in winter when there is typically capacity to spare. Local and state economies benefit because the money paid to the local water utility stays in the local economy. And economic development commissions will be able to lure potential businesses interested in moving into communities with low energy costs," he concluded.

James R. Shields, WaterFurnace Chairman of the Board said, "This is a real breakthrough for the company. It allows us to compete on the basis of cost. In the past, our system was typically more expensive to install, but we could sell them on the basis of energy- and maintenance-savings that pay back the price difference. Now, we can meet or beat the first costs and have even better energy savings."

WaterFurnace International, headquartered in Fort Wayne, Indiana, is one of North America's leading manufacturers of geothermal and water-source heating and cooling systems that provide economical, comfortable and environmentally-safe space conditioning for homes, commercial buildings and institutional facilities. The company is traded on the Toronto Stock Exchange under the symbol "WFI.

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