|
|
Enron Mail |
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Kay Mann X-To: Dan Lyons X-cc: X-bcc: X-Folder: \Kay_Mann_June2001_3\Notes Folders\Sent X-Origin: MANN-K X-FileName: kmann.nsf ---------------------- Forwarded by Kay Mann/Corp/Enron on 09/21/2000 03:48 PM --------------------------- hkroll@ect.enron.com on 09/21/2000 03:45:00 PM To: jeff.ader@enron.com, kay.mann@enron.com, john.berger@enron.com, Ozzie Pagan <Ozzie.Pagan@enron.com<, daniel.lyons@enron.com cc: Subject: Yahoo - FuelCell Energy Signs First North American Distribution Agreement With PPL EnergyPlus Well, I guess we don't have to worry about being the first. http://biz.yahoo.com/bw/000921/ct_fuelcel.html Home - Yahoo! - Help Ameritrade. It's how you get somewhere on Wall Street. Click here to open an Ameritrade account! [ Business | US Market | By Industry | IPO | AP | S&P | International | PRNews | BizWire | CCN | CNW ] Click Here Related Quotes FCEL PPL 84 36 +7 13/16 -5/16 delayed 20 mins - disclaimer Thursday September 21, 4:06 pm Eastern Time Press Release FuelCell Energy Signs First North American Distribution Agreement With PPL EnergyPlus Strategic Distribution Alliance to Advance Sales of Fuel Cell Products for Distributed Generation Market DANBURY, Conn.--(BUSINESS WIRE)--Sept. 21, 2000-- FuelCell Energy, Inc. (NASDAQ: FCEL - news) has selected PPL EnergyPlus, LLC, a subsidiary of PPL Corp. (NYSE: PPL - news), as the first North American distributor of its Direct FuelCell(TM)(DFCc) products for the distributed generation market. The agreement facilitates commercialization of FuelCell Energy's DFCc products, which will be available for submegawatt commercial orders in the second half of 2001, and megawatt commercial orders in 2002. In addition, PPL has made an equity investment of approximately $10 million, or about one per cent of FuelCell Energy's equity and will order 1.25 megawatts of commercial field trial units in the next six months. In announcing the strategic alliance between the two firms, Jerry Leitman, president and CEO of FuelCell Energy, said, ``We're delighted to have PPL, a leading supplier of competitively priced electricity and energy services in the mid-Atlantic region, as our first distribution partner in North America. PPL is a successful company, with a solid growth strategy, and is highly qualified to penetrate the market for distributed generation solutions, through their energy marketing and services arm, PPL EnergyPlus. This agreement is the latest milestone attained in bringing our products to the stationary power marketplace.'' The DFCc power plant is especially well suited for a variety of distributed generation applications, including high reliability and power quality, cogeneration, opportunity fuels, environmental compliance and grid congestion. PPL is targeting customers with these applications, including schools, hospitals, water treatment plants, office buildings and data centers. ``We see enormous potential for this segment of our business,'' said William F. Hecht, PPL chairman, president and chief executive officer. ``As an innovative energy company, with a strong record of anticipating and meeting customer needs, this agreement is a natural step for PPL.'' For the initial order of 1.25 megawatts, FuelCell Energy will provide PPL with DFCc power plant engineering and operations experience. FuelCell Energy will manufacture the DFCc plants for the program and provide interface requirements. PPL will provide comprehensive power plant operations and maintenance (O&M) management services for the field trial power plants procured and/or sold by PPL. Using carbonate technology, FuelCell Energy Direct FuelCell(TM) power plants have nominal ratings of 300 kW, 1.5 MW and 3 MW. The DFCc produces high efficiency energy through a chemical reaction, rather than through combustion, resulting in competitively priced electricity, with virtually no pollution. This revolutionary method of producing power gives energy users the option of producing electricity on site with the assurance of environmental compliance, less noise and with shorter timeframes required for the permitting process. About FuelCell Energy, Inc. FuelCell Energy, Inc. - www.fce.com - formerly Energy Research Corp., is a world-recognized leader for development and commercialization of high efficiency fuel cells for electric power generation. The Company's Direct FuelCell technology eliminates external fuel processing to extract hydrogen from a hydrocarbon fuel. This results in a product whose cost, combined with high efficiency, simplicity and reliability, results in product advantages for stationary power generation. FuelCell Energy is based in Danbury, Conn. The Company has been developing DFC technology for stationary power plants with the U.S. Department of Energy through the National Energy Technology Laboratory, whose advanced fuel cell research program is focused on developing a new generation of high performance fuel cells that can generate clean electricity at power stations or in distributed locations near the customer, including hospitals, schools, data centers and other commercial and industrial applications. About PPL Corp. PPL Corp. is an Allentown, Pa.-based, FORTUNE 500c company that delivers electricity and natural gas to more than 1.3 million customers in Pennsylvania; markets wholesale or retail energy in 43 U.S. states and Canada; provides energy services for businesses in the Mid-Atlantic and Northeastern U.S.; generates electricity at power plants in Pennsylvania, Maine and Montana; delivers electricity to 1.4 million customers in southwest Britain; and delivers electricity to nearly 1.8 million customers in Chile, Bolivia, El Salvador and Brazil. PPL EnergyPlus, the energy marketing and services arm of PPL Corp., offers distributed generation products through its GenSelect(TM) program. PPL EnergyPlus will support the installation and service of fuel cells through its regional mechanical contracting companies, which provide energy services for businesses in the Mid-Atlantic and Northeastern United States. This press release contains forward-looking statements, including statements regarding the Company's plans and expectations regarding the development and commercialization of its fuel cell technology. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could cause such a difference include, without limitation, the risk that commercial field trials of the Company's products will not occur when anticipated, general risks associated with product development, manufacturing, changes in the utility regulatory environment, potential volatility of energy prices, rapid technological change, and competition, as well as other risks set forth in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. Contact: Investor Contact: FuelCell Energy, Inc. Susan S. Odiseos, 203/825-6000 sodiseos@fce.com - or - Media Contact: Baker Communications Group Bill Baker, 860/350-9100 wbaker@bakercg.com Email this story - View most popular stories emailed More Quotes and News: Fuelcell Energy Inc (NasdaqNM:FCEL - news) PPL Corp (NYSE:PPL - news) Related News Categories: computers, oil/energy, utilities Help Copyright , 2000 Yahoo! All Rights Reserved. Privacy Policy - Terms of Service Copyright 2000 Business Wire. All rights reserved. All the news releases provided by Business Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving ina public database, redistributing via a computer network or in a printed form. Questions or Comments?
|