To: hoffy who wrote (67585 ) 4/12/1999 10:30:00 AM From: William Bach Read Replies (1) | Respond to
GOOOODDDDDD NEWSSSSSSSS FOR RNTK HOLDERS....this was TMex's pick;
Monday April 12, 9:30 am Eastern Time
Company Press Release
SOURCE: Rentech, Inc.
Rentech Announces $3.7 Million in Government Contracts for ITN Energy
Systems and Global Solar Energy LLC
DENVER, April 12 /PRNewswire/ -- Denver based holding company Rentech,
Inc. (Nasdaq: RNTK - news), the developer, licensor and marketer of a
patented and proprietary process for the conversion of natural gas and
solid or liquid hydrocarbons to valuable products today announced that
ITN Energy Systems (ITN) and Global Solar Energy LLC (GSE) have been the
recipient of nine research and development contracts from various
federal government entities totaling $3.7 million. Rentech owns a ten
percent interest in ITN.
The sizes of the contracts vary from $69,871 for a six-month study to
$747,832 for a two-year project. The awards have been granted by the
National Aeronautical Space Administration, (NASA), NASA Jet Propulsion
Laboratory, NASA Johnson Space Center, the Air Force Research Laboratory
and the United States Department of Defense, Navy.
The contracts range from study phase work to programs that will develop
and demonstrate actual prototype systems. The contracts will incorporate
ITN's expertise in light weight thin film technologies including: thin
film batteries; flexible photovoltaic panels; flex circuitry; radio
frequency circuitry (RF); shape memory alloys; lightweight high energy
power storage; and lightweight deployment systems for space.
One of the contracts awarded from NASA was received by GSE. The
$599,857, two year project is for a high voltage photovoltaic space
array. ITN, on behalf of GSE, plans to build a high voltage module and
provide a 300-volt test unit for a possible space flight experiment. ITN
specializes in the manufacture of lightweight thin film substrates using
proprietary vapor deposition technology developed by its founder Dr.
Mohan Misra. ITN holds a 50% interest in Global Solar Energy LLC(GSE), a
venture with UniSource Energy Corporation (NYSE: UNS - news).
Certain portions of this release may contain forward looking statements
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Although Rentech and ITN
believe their statements to be reasonable investors are cautioned that
such forward looking statements involve risk and uncertainties. There
can be no assurance that actual results, such as the successful
completion of the contracts or the ability to compete with larger
companies, will be accomplished as well as other risk factors outlined
in the Company's periodic filings with the Securities and Exchange
Commission which could cause actual results to differ.
