Boise, Idaho, Friday, March 23, 1998. PTC Group, Inc. [OTC symbol: PWRE] (formerlay Intryst, Inc.) and referred to herein as the "Company", is continuing discussions regarding the potential merger announced on November 12, 1997 with PTC Holdings, Inc. of Fair Oaks, California.
The new PTC Group would be dedicated to becoming a leading marketer, financier, and manufacturer of low-cost, mass-produced, modular, integrated, seawater desalination and power generation systems utilizing hydrogen fuel cell and other innovative technologies. However, the strategy will be to convert to fuel cells as the primary power source of these systems as soon as they are commercially possible.
Since fuel cells have already demonstrated themselves to be a reliable power source, the Company believes that a commitment to be a primary fuel cell user will provide market incentive for developers to participate in the manufacturing cost reduction efforts that have prevented commercialization to date.
Additional efforts will be devoted to the commercial integration of a variety of renewable energy sources into these systems. The Company is poised to capitalize on the global trend toward decentralization, deregulation, and privatization of utility systems and infrastructure coupled with the increased demand for reliable water and power sources. With 60% of the world's population without access to adequate supplies of clean water and reliable power, the new PTC Group's ability to provide technically sound solutions to these problems could produce a promising new market. Wired Magazine [October 1997 issue] recently quoted Mr. Joe Maceda, President of PTC Holdings, Inc., stating that, "Power plants are going to be just like furnaces, they're going to be appliances".
PTC Holdings is a strategic umbrella over its subsidiaries; Integrated Water and Power (IW&P), Advanced Power Sources Corporation (APS), and Manufacturing Technologies Corporation (MTC). This
structure exploits the subsidiaries development, operational, and manufacturing expertise to fulfill PTC's vision of bringing high quality, low cost, modular products to the water and power infrastructure markets. This unique level of integration and coordination compete with traditional, high cost, individually engineered, one-of-a-kind systems.
On behalf of the Board of Directors
Dr. R. Guaranaccia - Chairman & CEO
To receive further corporate information:
Investor Relations: Toll-Free (800) 398-7425
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IMO, this is an amazing situation/opportunity. How long before this shoe drops and PWRE becomes the next fuel cell rocket stock???
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