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Technology Stocks : Fuel Cell Investments -- Ignore unavailable to you. Want to Upgrade?


To: Frederick Langford who wrote (89)9/22/2000 11:17:43 PM
From: Bradpalm1  Read Replies (1) | Respond to of 280
 
A very telling article.....LOADED with insights about the future.

Caltech, UC Berkeley to Receive $20 Million Grant From BP To Study Conversion of Methane to Useful Fuels & Chemicals

LOS ANGELES, Sept. 22 /PRNewswire/ -- A 10-year research grant totaling $20 million for the study of catalytically converting methane, the principal component of natural gas, to useful liquid fuels and chemicals, will be shared equally between the California Institute of Technology and the University of California, Berkeley, BP (NYSE: BP - news) announced today.

The grants have been agreed upon in principle by the prestigious California schools clearing the way for BP to establish a university research program at the two institutions, similar to one it previously announced at England's Cambridge University. The research will be directed by the respective faculty members and will involve undergraduate, graduate, and postdoctoral level students. Under the pending BP-funded proposal, each of the universities will work closely with the company during its study of methane conversion.

The discovery of large reserves of natural gas in many parts of the world, some very remote, has stimulated efforts by BP to catalytically convert methane to useful end products, such as much cleaner fuels and chemicals that are more economical to transport and market.

``We believe the next breakthrough in natural gas to liquids, which will help bring us the next generation of cleaner burning fuels, will come from catalysis combined with process engineering, and these two universities have some of the world's finest scientific and engineering minds to help us accomplish this,'' said Sir John Browne, group chief executive of BP.

``By undertaking this progressive collaboration with Caltech and UC Berkeley, which have taken vastly different approaches to solving this difficult methane conversion problem, we have formed a very innovative and substantial team.''

The UC Berkeley group will be headed by Professor Alexis Bell and will focus on heterogeneous catalytic approaches for producing liquid fuels and chemicals. Building on its strength in understanding catalyst structure-performance relationships, this group will seek major breakthroughs in catalyst and process design for both direct and indirect conversion of methane. By contrast, the Caltech team, led by Professors Jay Labinger and John Bercaw, will develop novel homogeneous catalytic approaches, building on work their group has pursued for several years.

The funding will partially support as many as eight faculty members and 30-35 research staff, graduate students and postdoctoral fellows at the two universities. As part of the grant, there will be frequently scheduled meetings and collaboration between the two groups.

Information in a number of supporting research areas, such as theoretical modeling, catalyst preparation, and process design, will also be shared, according to BP.

The two schools were selected based on their years of progressive research into catalytic conversion and on the reputation of their combined schools of chemistry and chemical engineering.

In accepting the grant, Caltech President, Dr. David Baltimore, a Nobel prize-winning biologist, said, ``The work performed will contribute to the education of a large number of young researchers, as it concurrently advances our ability to develop and exploit emerging technological and scientific concepts. It also enables us to broaden our base of funding for important scientific research that might otherwise go unexplored.''

``We applaud BP for its sincere efforts to bridge the gap between academia and the private sector in seeking ways to prevent the waste of natural resources and minimize environmental impact through research on converting natural gas to more economical and environmentally sensitive end uses,'' he added.

UC Berkeley's Chancellor, Dr. Robert Berdahl, said, ``We are excited about this integrated research approach to solving a complex scientific problem, which potentially could result in significant environmental, economic, and societal benefits. It is consistent with the type of public-private partnering we like to undertake. The educational aspects of the program will contribute to the preparation of talented young researchers and will enable them to interact with leading research groups and with projects at the forefront of science and technology.''

Berdahl added: ``The experience gained by the young men and women working on the program will contribute significantly to their preparation for a career in either industry or academe. In part, it is for just this reason that universities seek out private funding sources for their research programs.''

``From BP's perspective, partnering with leading educational and research institutions enables us to demonstrate responsible leadership while remaining on the cutting edge of scientific development, through funding projects that will not only benefit the company, but society, as well, while offering opportunities that can result in a cleaner environment and a stronger economy. That is very much the way we expect to pursue aspects of fundamental scientific research,'' said Browne.

He also said that BP feels that since liquefaction and shipping of natural gas are expensive, the conversion of its principal component, methane, into useful end products is very attractive. The economics of methane conversion are strongly related to the capital investment required. To some extent, high capital costs are a consequence of the small scale that has been envisioned for most processes.

An overall aim is a major reduction in the energy required for conversion, potentially leading to substantially lower emissions of greenhouse gases.

London-based BP, one of the world's largest oil, gas, and petrochemical companies and a leader in solar power generation, recently announced its ``Clean Fuels '40 Cities' 2000 Program'' dedicated to bringing cleaner fuels to cities worldwide.

For a menu of BP news releases or to retrieve a specific release, visit our web site at bp.com on the Internet.

SOURCE: BP



To: Frederick Langford who wrote (89)9/24/2000 12:49:10 PM
From: Return to Sender  Respond to of 280
 
PPL Corp. Signs Agreement to Distribute Fuel Cells

biz.yahoo.com

ALLENTOWN, Pa., Sept. 21 /PRNewswire/ -- Further building on its position as a leading energy solutions provider for businesses, PPL Corp. (NYSE: PPL - news) Thursday (9/21) announced that it has signed an agreement to become the first North American distributor of fuel cells manufactured by FuelCell Energy, Inc. (Nasdaq: FCEL - news). PPL also has made an equity investment in FuelCell Energy of about $10 million, or roughly one percent of FuelCell's equity. (Photo: newscom.com )

``This agreement is an important step forward for energy users because it significantly expands the range of energy solutions that we can provide,'' said William F. Hecht, chairman, president and chief executive officer of PPL.

A key part of PPL's energy solutions approach is distributed generation -- providing small power generators to customers at their location. PPL offers a variety of distributed generation solutions through its GenSelect(SM) program, ranging from diesel generators to cutting-edge microturbines and fuel cells.

``Distributed generation presents an important opportunity for continued growth of PPL Corp.,'' said Hecht. ``With the range of solutions we now offer, we clearly are a leader in the distributed generation business.''

Fuel cells produce energy through a chemical reaction, rather than through combustion, by converting hydrogen and oxygen into electricity. This emerging technology has enormous potential to transform the traditional energy business.

Fuel cells are highly reliable and generate electricity in an environmentally responsible manner. Customers are expected to include hospitals, schools, data centers and other commercial and industrial electricity users.

``FuelCell Energy has a superior technology with a high probability of near-term commercialization,'' said Hecht. The company was selected after PPL's extensive study of the fuel cell industry. FuelCell Energy expects its units will be commercially available in 2001 and 2002.

Jerry Leitman, president and CEO of FuelCell Energy, said, ``We're delighted to have PPL, a leading supplier of competitively priced electricity and energy services in the Mid-Atlantic region, as our first distribution partner in North America.

``PPL is a successful company, with a solid growth strategy, and is highly qualified to help us penetrate the market for
distributed generation solutions through its energy marketing arm, PPL EnergyPlus,'' Leitman said.

PPL expects to establish several demonstration sites for fuel cells over the next two years, Hecht said. The company already has distributor relationships with companies that manufacture other types of distributed generation.

PPL's leadership position in distributed generation will be built upon its reputation as a leading marketer in competitive energy markets and strong brand recognition. Another significant factor is the company's network of profitable regional mechanical services companies, which will support the installation and service of fuel cells.

PPL Corp. has continued to experience improved performance on already strong earnings growth across its business lines.

Based on this earnings performance -- combined with the positive impact on earnings from an acquisition by PPL's subsidiary in the United Kingdom, a set of business fundamentals that the company believes will continue, and conservative assumptions about future business conditions -- PPL in late August increased its earnings forecast to $3.00 per share for the year 2000 and to between $3.20 and $3.30 per share for 2001. The company had previously forecasted earnings of between $2.80 and $2.90 per share for this year and between $3.10 and $3.20 per share for 2001.

Based in Allentown, Pa., PPL Corp. is a FORTUNE 500® company that delivers electricity and natural gas to more than 1.3
million customers in Pennsylvania; markets wholesale or retail energy in 43 U.S. states and Canada; provides energy services for businesses in the Mid-Atlantic and Northeastern U.S.; generates electricity at power plants in Pennsylvania, Maine and Montana; delivers electricity to 1.4 million customers in southwest Britain; and delivers electricity to nearly 1.8 million customers in Chile, Bolivia, El Salvador and Brazil.

FuelCell Energy, Inc. -- www.fce.com -- formerly Energy Research Corp., is a world-recognized leader for development and commercialization of high- efficiency fuel cells for electric power generation. The company's Direct FuelCell technology eliminates external fuel processing to extract hydrogen from a hydrocarbon fuel. This results in a product whose cost, combined with high efficiency, simplicity and reliability, results in product advantages for stationary power generation. FuelCell Energy is based in Danbury, Conn. The company has been developing DFC technology for stationary power plants with the U.S. Department of Energy through the National Energy Technology Laboratory, whose advanced fuel cell research program is focused on developing a new generation of high-performance fuel cells that can generate clean electricity at power stations or in
distributed locations near the customer, including hospitals, schools, data centers and other commercial and industrial applications.

Certain statements contained in this news release, including statements with respect to future earnings, subsidiary performance, business expansion, product commercialization and new technology, are ``forward-looking statements'' within the meaning of the federal securities laws. Although PPL Corp. believes that the expectations and assumptions reflected in these forward- looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual
results to differ materially from the forward-looking statements: market demand and prices for energy, energy services, capacity and fuel; weather variations affecting customer energy usage; competition in retail and wholesale power markets; the effect of any business or industry restructuring; the profitability and liquidity of PPL Corp. and its subsidiaries; new accounting requirements or new interpretations or applications of existing requirements; operating performance of plants and other facilities; environmental conditions and requirements; system conditions and operating costs; performance of new ventures; development of new markets and technologies; political, regulatory or economic conditions in countries where PPL Corp. or its subsidiaries conduct business; capital market conditions; foreign exchange rates; and the commitments and liabilities of PPL Corp. and its subsidiaries. Any such forward-looking statements should be considered in light of such factors and in conjunction with PPL Corp.'s Form 10-K and other reports on file with the Securities and Exchange Commission.

SOURCE: PPL Corp.

Do you think the conference will help Fuel Cell Stocks this week? I think it can't hurt!

RTS