28.10.2002: Meldung: Capstone Turbine: Strategic Alliance
The strategic alliance between UTC and Capstone is a long-term agreement to integrate, sell and service microturbine-based combined heat and power (CHP) solutions for commercial buildings. UTC and Capstone intend to build on key product, technology and channel strengths of the companies, including those of UTC"s Carrier Corp. -- the leading manufacturer of heating, ventilation and air conditioning (HVAC) systems.
The agreement covers North America and most of Europe. As part of the alliance agreement, UTC has committed to purchase a 4.9 percent stake in Capstone.
Capstone is the leading producer of low- emission microturbine
systems. UTC Power is leading UTC"s efforts in distributed generation. UTC Fuel Cells, a leader in commercial fuel cells, is a part of UTC Power.
Jan van Dokkum, president of UTC Power, said, "UTC is committed to improving the energy efficiency of commercial buildings. We believe Capstone microturbines will be an important element of our distributed generation strategy. Together, we will build upon the valuable lessons of our U.S. Department of Energy (DoE) Advanced Microturbine System
and Building, Cooling, Heating and Power programs. Our investment in Capstone underlines our commitment and recognizes Capstone"s leadership position in microturbines. We look forward to embarking on this long-term relationship."
"We are pleased to announce the strategic alliance between UTC and Capstone," said Dr. Ake Almgren, president and chief executive officer of Capstone. "As we have consistently said, building a substantial business in distributed generation will require distinctive technology, proven products and world class channels. This alliance combines some of the best of these capabilities. We believe Capstone microturbines, integrated to work directly with UTC"s CHP equipment,
will provide significant benefits to our customers. Earlier this year, Capstone announced its focus on CHP, and this alliance with UTC provides a key step forward in enhancing opportunities for commercial CHP solutions."
About Capstone Turbine
Capstone Turbine Corporation is the world"s leading producer of very-low-emission microturbine systems used for onsite power production. In 1998, Capstone was the first to offer commercial power products utilizing microturbine technology, the result of more than ten years of focused research. Capstone Turbine has sold and shipped nearly 2,400 commercial production Capstone MicroTurbine systems to
customers worldwide. These award-winning systems have documented more than 2 million hours of operation serving, among others, the following applications:
Hybrid electric vehicles (HEVs): onboard generation
Resource recovery: converting oilfield, landfill and sewage gases into electricity
Micro-cogeneration: combined heat/power/chilling/drying solutions
The 9s market: power security, quality and reliability
United Technologies Corp., based in Hartford, Connecticut, provides a broad range of high technology products and support services to the building systems and aerospace industries. Additional information is available on the Internet at www.utc.com and www.utcpower.com.
This announcement contains "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which can be identified by the use of forward-looking terminology such as "will," "believe" or other comparable terms. These forward-looking statements are subject to numerous assumptions, risks and uncertainties that could cause actual results to differ materially from future results expressed or implied
in such statements. Such factors include, but are not limited to, 1) successful or timely completion of product integration efforts, 2) the fact that complex, multi-year strategic relationships may not achieve desired financial or operating results for either participant and 3) economic, political, climatic, currency, regulatory, technological, competitive and other factors detailed in each of UTC"s and Capstone"s
filings with the Securities and Exchange Commission. The
forward-looking statements contained herein speak only as of the date of this press release. Each of UTC and Capstone expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in either of their expectations or any change in events, conditions or circumstances on which any such statement is based.
"Capstone Turbine Corp" is a registered trademark of Capstone Turbine Corporation.
Capstone Turbine Corporation, Chatsworth
Karen Clark, 818/734-5114