What Altex Technologies does

Altex Technologies Corporation is a privately held, founder-led energy technology research and development firm founded in 1985 and headquartered in San Jose, California. The company develops proprietary hardware and processes across four technical pillars: thermal management (notably NISHEX non-isotropic structures and low-cost minichannel/microchannel heat exchangers), combustion and low-emissions burners (residential through 15 MW industrial scale), fuels processing (BBADS biomass densification and CAMBS catalytic biomass-to-liquid conversion), and power systems (CORE-Power fuel cell APUs, CORE Cogen combined heat and power, and BBEST boiler-attached CHP). Its work is built on decades of collaborative research with Sandia National Laboratories, Pennsylvania State University, MIT, and Lawrence Berkeley National Laboratory, and is grounded in co-founder expertise from Dr. John T. Kelly (President) and Dr. Mehdi Namazian (Vice President).

Name

Altex Technologies

Legal name

Altex Technologies Corporation

Website

https://altextech.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

11–50 employees

Short description

Altex Technologies Corporation is a privately held San Jose-based energy R&D firm developing proprietary fuels processing, low-emissions burners, heat exchangers, and fuel cell power systems, primarily serving U.S. federal and state government agencies under SBIR/STTR awards with secondary commercial applications.

Ownership category

akta.pro rank

Product category

Energy Technology and Power Systems

NAICS

Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Engine, Turbine, and Power Transmission Equipment Manufacturing (3336), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (3334)

SIC

General Industrial Machinery & Equipment (3560), General Industrial Machinery & Equipment, Nec (3569), Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585)

akta.pro primary industry

Automotive Heat Exchangers Manufacturing (Radiators/Condensers/Evaporators/Heater Cores) (IMACALAC)

akta.pro secondary industries

Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK), E-fuels Storage & Blending (E-diesel, E-kerosene/SAF, E-gasoline) (EUAFAFAC)

Keywords

• Fuels processing technology
• Fuel cell power systems
• Low emissions burners
• Thermal management heat exchangers
• Biomass conversion systems

Headquarters

HQ city

San Jose

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Government R&D Contracts and SBIR Awards: Primary revenue stream from federal and state government agencies through SBIR/STTR awards and R&D contracts. Supports development of innovative energy solutions for military and civilian applications. DOE funding includes specific Phase I SBIR awards of up to $206,500 each for bioenergy research
2. Commercial Product Development and Licensing: Revenue from developing and commercializing proprietary technologies including heat exchangers, burners, and fuel processing systems. Manufacturing partners support demonstration and commercialization, with Altex maintaining technology licensing arrangements

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

Altex Technologies develops and sells proprietary hardware products and engineered systems in four areas: fuels processing (BBADS biomass densification, CAMBS catalytic biomass-to-liquid conversion), thermal management (NISHEX and minichannel/microchannel heat exchangers), low emissions burners (residential to 15 MW industrial), and power systems (CORE-Power fuel cell APU, CORE Cogen, BBEST combined heat and power, fuel desulfurizers and reformers). Products are sold primarily to federal and state government agencies under R&D contracts and to commercial/industrial customers via manufacturing partners.

Product overview

Altex Technologies is a hardware-focused energy technology company offering a portfolio of thermal management, combustion, fuels processing, and power systems products. The core products include NISHEX and minichannel/microchannel heat exchangers for thermal management; BBEST combined heat and power system; low emissions burners ranging from residential to industrial scale; CORE-Power and CORE Cogen fuel cell systems with associated desulfurizers and reformers; and BBADS biomass densification and CAMBS biomass-to-liquid-fuel conversion systems. These products serve military, commercial, and industrial markets with applications ranging from military vehicles to commercial restaurants to utility power systems.

Differentiator

Problem solved

Functional benefit

Products and services

• NISHEX Heat Exchangers

Quantifiable outcome

• Biomass densification cost reduction of 76-84% compared to conventional pelletization and cubing
• +6 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Sandia National LaboratoriescoreStrategic or Co-development PartnerLong-standing collaborative research partnership with Sandia National Laboratories Combustion Research Facility in Livermore. Altex gained unique combustion knowledge through years of collaborative efforts with world-renowned combustion experts, leading to development of low-emissions burners. This foundational partnership shaped Altex's core combustion expertise.
• Pennsylvania State University (PSU)coreStrategic or Co-development PartnerCollaborative development of catalytic reactors for the CAMBS solid-to-liquid fuels conversion process. PSU's catalytic reactor expertise combined with Altex's fuels processing knowledge to create targeted intermediate conversion technology. Tests have successfully converted wood waste, housing waste, switchgrass, wheat straw, and coals into liquid fuels.
• Massachusetts Institute of Technology (MIT)minorStrategic or Co-development PartnerAcademic collaboration providing access to research talent and technical expertise. Dr. Namazian received MS and PhD in Mechanical Engineering from MIT; joint research efforts conducted with MIT personnel.
• Lawrence Berkeley National LaboratoryminorStrategic or Co-development PartnerResearch collaboration following Dr. Namazian's graduation from MIT. Worked as researcher at Lawrence Berkeley National Laboratory in the UC Berkeley Mechanical Engineering Department.
• Manufacturing PartnerscoreImplementation/ SI/ Consulting PartnerStrong relationships with several manufacturing partners that support Altex from demonstration through commercialization. These partners integrate Altex's proprietary technology into final products for commercial sale. By integrating R&D with product commercialization, solution development proceeds to market in a timely manner at low risk.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Advent Technologies: Developer of high-temperature PEM (HTPEM) fuel cells and membrane electrode assemblies. Closely comparable to Altex's CORE-Power HTPEM fuel cell reformer work targeting military and stationary power applications.
• Precision Combustion, Inc. Small R&D engineering firm developing catalytic combustion and fuel processing technologies for military and industrial customers. Closely mirrors Altex's profile, customer base (DoD/DOE), and burner/fuel processing focus.
• OxEon Energy: Developer of solid oxide fuel cell (SOFC) systems and reversible solid oxide stacks with significant DOE and DoD funding. Directly comparable to Altex's CORE-Power fuel cell work on JP-8 and distillate fuels.
• Zeeco: Global manufacturer of ultra-low NOx industrial burners and combustion equipment. Direct competitor to Altex's low emissions burner product line spanning residential to 15 MW industrial scale.
• Maxon (a Honeywell business): Industrial burner and combustion equipment manufacturer serving process heating markets. Comparable to Altex's burner portfolio and burners integrated into its fuel cell reformers.
• Velocys: Biomass-to-jet-fuel technology developer using microchannel reactor platforms — same core architecture discipline as Altex's microchannel heat exchangers and CAMBS biomass conversion process.

Broad incumbents

• Bloom Energy: Leading SOFC stationary fuel cell manufacturer serving commercial, industrial, and data center customers. Operates in the same SOFC technology domain as Altex but at substantially greater scale and capitalization.
• Modine Manufacturing: Established manufacturer of heat exchangers and thermal management technology for HVAC, data center, and industrial markets. Comparable product overlap with Altex's NISHEX and microchannel heat exchanger offerings.
• Ballard Power Systems: PEM fuel cell stack and system manufacturer focused on heavy-duty mobility, backup power, and marine. Operates in adjacent fuel cell segments to Altex's military fuel cell APU work but at vastly larger scale.

Emerging players

• LanzaTech: Carbon-capture-to-fuels company using gas fermentation to produce ethanol and sustainable aviation fuel. Adjacent to Altex's CAMBS biomass-to-liquid fuels work, competing for SAF mandate-driven capital and partnerships.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/altex-technologies-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Altex Technologies