More news (http://biz.yahoo.com/bw/990824/ct_energy__1.html)
Tuesday August 24, 8:59 am Eastern Time
Company Press Release
Energy Research Corporation and Bath Iron Works Form
Partnership to Develop Fuel Cell Energy Plant for Defense
Marine Applications
DANBURY, Conn./BATH, Maine--(BUSINESS WIRE)--Aug. 24, 1999--Energy
Research Corporation (AMEX:ERC - news) and the Advanced Technology Division of
Bath Iron Works (BIW), a General Dynamics Company (NYSE:GD - news) have formed a
partnership to develop an advanced carbonate-based fuel cell energy plant for defense marine applications. The
partnership is an effort to dramatically improve ship electric power generation, also known as ship hotel power, with the
development of the high efficiency Direct FuelCell (DFC(tm)) Ship Service Power Plant.
''The establishment of this alliance marks the beginning of a process we believe will lead to the development of the first
new power generation technology for surface ships since nuclear power was adopted for aircraft carriers,'' said Jerry
Leitman, president and CEO of ERC.
ERC, based in Danbury, Connecticut, is under contract with the U.S. Navy to develop a marine DFC energy plant using
marine diesel fuels. ERC has recently demonstrated a laboratory-scale fuel treatment system that enables the DFC plant
to use marine fuels while ensuring top plant performance and long life. DFC technology internally reforms carbon-based
fuels, eliminating the need for external hydrogen generation characteristic of most fuel cell systems. The DFC energy plant
is environmentally super-clean and very quiet.
There are significant defense and commercial markets for advanced marine power systems. ERC is presently conducting
a market assessment under a contract with John J. McMullen Associates, Inc. for the U.S. Coast Guard. A Federal
Interagency Ship Service Fuel Cell Work Group was established in 1997 to evaluate the benefits of fuel cell energy plants
for the Navy, Coast Guard and other federal agencies employing large surface ships.
Energy Research Corporation is a world recognized leader in the field of high efficiency fuel cells for electric power
generation ercc.com.
BIW is the premier designer and builder of U.S. Navy surface combatants.
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 the Company's Direct Fuel Cell Power Plant will not
operate as efficiently as planned, the risk that the Company will not initiate commercial sales as currently scheduled, the
risk that the Company's manufacturing capacity will not be increased as planned, general risks associated with product
development, manufacturing and introduction, 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:
Mark Wachs and Associates, New York
Mark Wachs, 212/832-2800
E-mail: mwachs@datavoice.net
or
Energy Research Corporation, Danbury
Joseph G. Mahler, 203/825-6000
E-mail: jmahler@ercc.com |
