20.02.04

20.2.2004: Meldung: Plug Power: Joint Development Agreement with Magnetek Inc.

Magnetek Signs Joint Development Agreement with Plug Power

Thursday February 19, 11:11 am ET
LOS ANGELES-- Feb. 19, 2004--Magnetek Inc. has been selected to provide advanced power conditioners for a new generation of stationary fuel cells being developed by Plug Power Inc..

The Magnetek power conditioners will invert the direct current (DC) produced by Plug Power"s proton-exchange-membrane (PEM) fuel cells into the precise, reliable alternating current (AC) required for stationary applications, and will enable the fuel cells to operate in grid-tied or stand-alone mode should there be a loss of utility power.

In stand-alone mode each Magnetek-equipped fuel cell will be able to handle peak power loads in excess of 9 kilowatts, accommodating load imbalances from 0% to 80%. In grid-tied mode, should utility power fail, the power conditioner will pick up the load immediately, and the fuel cells will continue to operate in a stand-alone mode until utility power is restored.
Magnetek will complete delivery of two (2) prototype power conditioners this August. Both parties expect market demand for Plug Power"s PEM fuel cells to grow over the next five years.

Plug Power Inc. designs and develops on-site energy systems based on proton exchange membrane fuel cells. Plug Power"s strategic partners include GE Fuel Cell Systems, DTE Energy Technologies, Vaillant GmbH, Honda R&D Co., Ltd., Engelhard Corporation and Celanese Ventures. The Company"s headquarters are located in Latham, N.Y., with offices in Washington, D.C., and The Netherlands.

During the past half-decade, Magnetek has delivered power conditioners up to 200-kilowatts for more than 160 commercial fuel-cell installations totaling nearly 32 megawatts, including the world"s two largest fuel cell plants in Anchorage, Alaska and Long Island, New York. The Company manufactures digital power supplies and systems used in a broad range of applications requiring highly reliable, precise, energy-efficient power. It operates manufacturing and research facilities in North America, Europe and Asia, employs approximately 1,600 people and reported revenue of $201.8 million for fiscal 2003, ended on June 30, 2003.

For more information about Plug Power and Magnetek, visit their respective websites at http://www.plugpower.com and http://www.magnetek.com.

Contact:
Magnetek Inc.
Robert Murray, 310-689-1610
bmurray@magnetek.com
or
Plug Power Inc.
Cynthia Mahoney White, 518-782-7700 ext. 1973

Source: Magnetek Inc.
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