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Gold/Mining/Energy : Turbo Genset -- Ignore unavailable to you. Want to Upgrade?

To: gian piero ciambella who wrote (44)	3/13/2000 1:30:00 PM
From: gian piero ciambella	Read Replies (1) \| Respond to of 47

March 13, 2000 TURBO GENSET ANNOUNCES SIGNING OF AN MOU WITH DTE ENERGY AND PRATT AND WHITNEY FOR DISTRIBUTED POWER GENERATION Turbo Genset Inc. (CDNX: TUR.A and TUR/A on Bloomberg) 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 Canada Corporation for funding the immediate development of a 333kW generator set. This new product is targeted for distributed generation applications for small to medium commercial and industrial customers and micro-grids serving both residential and commercial development projects. The MOU contemplates that a joint venture will be created between the companies for the design and integration of specially designed and manufactured turbine engines from Pratt & Whitney and high-speed generator systems from Turbo Genset. 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 agreement represents a significant step forward in the Company's development of distributed power generation systems," said Colin Besant, Chairman of Turbo Genset Inc. "The addition of this mini-turbine product line to our portfolio represents a key step toward attaining our vision of DTE Energy Technologies as a pre-eminent supplier of distributed generation products and services," said Paul Horst, president of DTE Energy Technologies. Packaged systems in this size range are intended to satisfy the market needs of customers with electric loads too large for available products which typically employ reciprocating or turbocharger based engines. Instead, these products will utilize Pratt & Whitney's state-of-the? art aero-derivative engine as the core of the package. These engines will drive high-speed generators with associated power electronics. Pre-commercial units are expected to be available in approximately 12 months with commercial production beginning in 2002. DTE Energy Technologies' parent company, DTE Energy, is an $11 billion (assets) diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its principal operating subsidiary is Detroit Edison, an electric utility serving 2.1 million customers in Southeastern Michigan. Pratt & Whitney Canada (P&WC) is a world leader in aviation engines powering helicopters, corporate and regional aircraft. It also builds advanced engines for industrial applications. The company operates in many countries and manages an extensive worldwide service network. In 1999 sales were in excess of $1.5 billion. P&WC is a subsidiary of United Technologies Corporation, a high technology company based in Hartford, Connecticut. Turbo Genset Inc., through its wholly owned subsidiary, The Turbo Genset Company Ltd, based in London, UK, has developed and initiated commercialization of it's technology relating to high-speed permanent-magnet machine systems for power generation, transportation and industrial applications. With its low weight and small size, applications for the technology include mobile power generation, distributed power, standby power and hybrid turbochargers for medium to large Diesel engine for trucks and locomotives. The technology also has a promising future for use in hybrid vehicle power trains in which it can provide for higher efficiency and lower emissions with the advantage of its small size and weight. The shares of Turbo Genset Inc. are listed on the Canadian Venture Exchange (www.cdnx.ca). A dealing facility for the Company's shares also is available on OFEX (www.ofex.co.uk). Additional information on Turbo Genset Inc. is available on the internet at turbogenset.com. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For further information, please contact Turbo Genset Inc. Professor Colin Besant, Chairman and Chief Executive + 44 181 570?2946 Michael Holland, Senior Administration Officer + 44 181 570?2946 Powerpoint Investment Communications Inc. Allan McGirr 604?708?2462 amcgirr@turbogenset.com Square Mile Communications Nick Oborne + 44 171 691 1000 This press release includes forward-looking statements and although management of Turbo Genset Inc. believes that its expectations are based upon reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements contained herein include, among others, the success and timing of certain projects, agreements and orders, the success of previous or further acquisitions, growth of the Corporations revenue base, the ability to generate reasonable gross profit margins on revenues that realised, and changes in the demand for the Corporation's products during the periods covered by the forward looking statements. Interested parties are urged to refer to additional information regarding Turbo Genset Inc. which is contained in its reports to the Alberta Securities Commission and Quebec Securities Commission.