Ocean Power Update:
Sigma Elektroteknisk AS signs engineering contract with Ricardo, US
EL DORADO HILLS, Calif.--November 28, 2000
On Wednesday November 14, Sigma Elektroteknisk AS, a wholly owned subsidiary of Ocean Power Corp, El Dorado Hills, CA, signed an engineering contract with Ricardo, Inc., a global power-train engineering and consulting firm.
(http://www.ricardo.com)
This is part of Sigma's planned effort to prepare the Stirling engine to be used in distributed heat and power production applications, for volume manufacturing.
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SIGMA and KOCKUMS expand their co-operation
Sigma Elektroteknisk AS, Norway, a fully owned subsidiary of Ocean Power Corp, El Dorado Hills, CA, USA and KOCKUMS AB, Sweden, on the 21. of November signed a co-operation agreement. (http://www.kockums.se/)
KOCKUMS AB has some 30 years experience in developing and building Stirling engines. SIGMA has since 1998 focused on preparing a smaller Stirling engine for manufacturing and introduction as a combined Heat & Power source for domestic applications.
This co-operation will support the optimization of the SIGMA engine and at the same time SIGMA will be able to offer their services to KOCKUMS.
This will allow SIGMA to focus on the commercialization of the 3 kW unit with the support of over 30 years of experience from the most experienced center of competence in both developing and manufacturing of Stirling engines.
As SIGMA concentrate their efforts in supporting the fast developing distributed Heat & Power market and KOCKUMS build engines for military applications the basis for sharing know-how is present.
Presentation of KOCKUMS: Kockums designs, develops, builds and maintains submarines and naval surface vessels incorporating the most advanced stealth technologies. In the submarine sector, this involves the Stirling Air Independent Propulsion (AIP) system and, in the naval surface vessel sector, carbon fibre technology. Kockums also designs and develops mine countermeasure systems and mobile bridge systems. Submarine design and the development and production of the Stirling system are located in Malmö. Design and construction of naval surface vessels, as well as the production of submarines, are located in Karlskrona. Kockums has about 1100 employees in Sweden and has a significant interest in the Australian Submarine Corporation which has some 900 employees. Kockums AB is a member of the HDW Group with head office in Kiel, Germany.
The above statements in regard to Ocean Power which are not purely historical are forward-looking statements including Ocean Power's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to Ocean Power as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes.
CONTACT: Ocean Power Corporation
Joseph P. Maceda, 916/933-8100
http;//www.pwre.com
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