Tuesday June 26, 8:09 am Eastern Time
Active Power Signs Term Sheet With Leading Telecommunications Company to Distribute High Interia Turbine Product
Terms of agreement include five-year minimum volume in return for exclusive distribution rights of the High Inertia Turbine product in DC telecom market.
biz.yahoo.com
AUSTIN, Texas--(BUSINESS WIRE)--June 26, 2001-- Active Power, Inc. (NASDAQ:ACPW - news) of Austin, TX, a designer and manufacturer of power quality solutions has signed a term sheet with a leading maker of telecom power systems for exclusive distribution of the company's 6kW High Inertia Turbine (HIT6) product in the DC telecom market. HIT6 is a battery-free, long runtime, continuous power system that uses Active Power's patented high inertia turbine technology. The definitive agreement will be executed within 60 days and includes an exclusive distribution agreement for the DC telecom market, volume minimums, and stipulated joint sales and marketing funding.
This new partnership will provide Active Power worldwide distribution and service to address the $4 billion DC wireless and wireline power market. HIT6 is an ideal power quality solution for both new wireless sites and the large battery replacement market estimated at 400,000 sites worldwide. The system design is compact with low maintenance requirements, making HIT6 technology ideal for remote and outdoor critical power sites. Field test units are planned for shipment in the 4th quarter of this year.
Additional details will be disclosed during Active Power's quarterly earnings conference call on July 19, 2001.
About Active Power:
Active Power, Inc. (www.activepower.com) designs, manufactures and markets battery-free power quality products that provide the consistent, reliable electric power required by today's digital economy. Active Power is the first
company to commercialize flywheel energy storage systems and currently markets two products integrated with CleanSource® technology: CleanSource DC and Cat UPS. |
