Turbo Genset Announces Signing of MOU with DTE Energy and
Pratt & Whitney for 1.2MW Distributed Power Generation
Unit
CALGARY, ALBERTA--Turbo Genset Inc. (LSE: TGN; TSE: TGN) today
announced that its wholly owned subsidiary, The Turbo Genset Co.
Ltd, has signed a Memorandum of Understanding with DTE Energy
Technologies, a subsidiary of DTE Energy Co. and Pratt & Whitney
Power Systems, a United Technologies company, for the development
of a 1.2MW (1200kW) generator set. This new product is targeted
for distributed generation applications for commercial and
industrial customers.
The MOU contemplates that the parties will negotiate toward the
design and integration of specially designed and manufactured
high-speed generator, power electronic and control systems from
Turbo Genset and recuperated gas turbine engines from Pratt &
Whitney. DTE Energy Technologies will provide overall system
controls for integration into micro-grids as well as interfaces to
traditional utility grids. DTE Energy Technologies will also be
responsible for the marketing of the packaged systems to both end
users and utilities. The business arrangements are subject to the
negotiation of definitive agreements and approvals by the
respective Boards of Directors.
This MOU to develop a 1.2MW generator system is the second
agreement amongst the parties; the first agreement, which was
announced on March 13, 2000, related to the development of a 400kW
generator system pursuant to which Turbo Genset has already
received its first firm order from DTE Energy Technologies.
"Building on the technology developments of the 400kW system and
the strength of the relationship between Turbo Genset, DTE Energy
Technologies and Pratt & Whitney, this agreement represents a
significant step forward in the Company's development of
distributed power generation systems " said Colin Besant, Chairman
of Turbo Genset Inc.
"We are very pleased to be working on the development of another
high-efficiency system for distributed generation which will
further advance the state of the art with DTE Energy Technologies
and Turbo Genset" said Michael Foley, General Manager of the Small
Engine Division of Pratt & Whitney Power Systems.
"We believe that the addition of this 1.2 megawatt turbine
generator set to our portfolio is an important step in bringing
the energy|now brand to the fore in the distributed generation
marketplace," said Paul Horst, president, DTE Energy Technologies.
Packaged systems in this size range are intended to satisfy the
market needs of medium-to-large industrial and commercial
customers who require flexibility of supply and reliability. The
high-speed generators and associated power electronics will be
powered by Pratt & Whitney's engine as the core of the package.
Production units are expected to be available in approximately 3Q
2003. |
