Active Power and Caterpillar Broaden Their Relationship; Companies Expand Product Line and Extend Agreement to 2006.Business Editors & High-Tech/Energy Writers AUSTIN, Texas--(BUSINESS WIRE)--Oct. 18, 2001 Active Power, Inc. (Nasdaq:ACPW ACPW Asymmetrical Coplanar Waveguide ACPW Advisory Committee of the Purity of Water (Australia) ) of Austin, TX, a developer and manufacturer of battery-free power quality solutions today announced it has extended its contract with Caterpillar caterpillar (kăt`əpĭl'ər, kăt`ər–), common name for the larva of a moth or butterfly. Caterpillars have distinct heads and are segmented and wormlike. Inc. (NYSE NYSE See: New York Stock Exchange :CAT) of Peoria, IL until 2006. The contract extension includes joint development funding for a new high power electronics platform that closely integrates with Cat power generation equipment. The new platform enhances the value of both standby and prime power generation systems and complements the existing Cat(R) UPS product line. These new products are expected to release in early 2003. "Our cooperation with Active Power has expanded Caterpillar's market reach into the power quality arena and gives Cat competitive advantages in this important market segment," said Jim Parker, Director of Caterpillar Electric Power. "With the new products covered in this agreement, Caterpillar will have an even broader product line allowing us to offer more comprehensive solutions to our expanding customer base." "This new product line, when used with Cat's standby generators A standby generator is a back-up electrical system that operates automatically. Within seconds of a utility outage an automatic transfer switch senses the power loss, commands the generator to start and then transfers the electrical load to the generator. , provides uninterrupted, continuous power capabilities to the current Cat UPS product line. When used with Cat prime power generators, the new products will increase the efficiency and power density of these systems," said Joe Pinkerton, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of Active Power. About Active Power: Active Power, Inc. (www.activepower.com) designs, manufactures and markets battery-free power quality products that provide the consistent, reliable electric power required by today's digital economy. Active Power is the first company to commercialize a flywheel energy storage Flywheel Energy Storage (FES) works by accelerating a rotor (flywheel) to a very high speed and maintaining the energy in the system as rotational energy. The energy is converted back by slowing down the flywheel. system, CleanSource(R) that provides a highly reliable, low-cost and non-toxic replacement for lead-acid batteries Noun 1. lead-acid battery - a battery with lead electrodes with dilute sulphuric acid as the electrolyte; each cell generates about 2 volts lead-acid accumulator used in conventional power quality installations. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Provision Any forward looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Specific risks include delays in new product development, product performance and quality issues and the acceptance of our current and new products by the power quality market. Please refer to Active Power filings with the Securities and Exchange Commission for more information on the risk factors that could cause actual results to differ. CleanSource is a registered trademark of Active Power, Inc. All other trademarks are the property of Caterpillar Inc. |
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