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Technology Stocks : Fuel Cell Investments

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To: Stephen O who wrote (171)2/4/2002 7:51:22 PM
From: SemiBull   of 280
 
Brazilian Energy Company Petrobras to Install UTC Fuel Cells PC25(TM) Power Plant at Research Facility

SOUTH WINDSOR, Conn., Feb. 4 /PRNewswire/ -- UTC Fuel Cells, a unit of United Technologies Corp. (NYSE: UTX - news), today announced that Petrobras, Brazil's oil, gas and energy company, will install a PC25(TM) fuel cell power plant at its research and development center (CENPES) in Rio de Janeiro.

The unit, which produces 200 kilowatts of electricity and 900,000 Btus per hour of useful heat, will provide assured power for the CENPES facility.

Petrobras said it intends to solidify its position as an energy company and take advantage of the growth of natural gas within the country's energy profile, predicted to rise from the current figure of 2.8 percent to 12 percent by 2010.

``In consonance with Petrobras objectives, CENPES is implementing several projects using equipment such as fuel cells in order to provide distributed electric energy through the use of natural gas,'' said Fernando Baratelli, gas and energy manager at CENPES.

The unit will be the fourth installed in South America, where UTC Fuel Cells is represented by Sieco S.A., a provider of premium power equipment and services based in Argentina.

Sieco President Nicolas Rosarios said, ``Sieco is committed to establishing a commercial market for the PC25 power plant in South America. This installation further demonstrates the promise of fuel cells to meet the region's power needs in an environmentally friendly manner.''

Sieco last this year sold three PC25 units in Brazil, where Sieco has established a subsidiary known as Fuel Cell Brazil (FCB) to handle PC25 fuel cell sales and service in that country.

The first unit is currently providing assured power for a computer system center owned by Companhia Paranaense de Energia (COPEL) (ELP: NYSE), a leading electricity utility company which provides electricity for 2.7 million customers in the Parana state of Brazil.

The other two units will provide building power to a research and development facility of Lactec, a COPEL partner, and assured power to a hospital for children with cancer in Parana.

A fuel cell is an electrochemical device that combines hydrogen, or hydrogen-rich fuel, and oxygen to produce electricity, heat and water. Fuel cells operate without combustion, making them almost pollution free. While a traditional generating system produces as much as 25 pounds of pollutants to generate 1,000 kilowatt-hours of electricity, the PC25 power plant produces less than an ounce.

UTC Fuel Cells has manufactured the PC25 power plant since 1991 and delivered more than 235 to customers in 19 countries on five continents. Those power plants have together accumulated some 4.5 million hours of operation.

UTC Fuel Cells is the world leader in fuel cell production and development for commercial, transportation, residential and space applications. The company is the sole supplier of fuel cells for U.S. space missions.

SOURCE: UTC Fuel Cells
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