Cool Chips and Rolls-Royce Sign Agreement.Business Editors/High-Tech Writers GIBRALTAR--(BUSINESS WIRE)--July 7, 2003 Cool Chips plc (COLCF) and Rolls-Royce plc Rolls-Royce PLC British manufacturer of aircraft engines and propulsion and power systems and, for much of the 20th century, a maker of luxury automobiles. Charles S. have signed a term sheet for a license agreement giving Rolls-Royce exclusive, worldwide rights to use the Cool ChipsTM solid-state cooling technology for specific applications across its range of gas turbine products for civil aerospace, defence, marine and energy markets and for specific applications across electrical transmission, conditioning, and distribution. Cool Chips are wafer-like discs using quantum mechanical electron tunnelling as the primary cooling mechanism. The devices are designed to produce cooling or refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. more efficiently than any competing technology, while weighing less than 10% of an equivalent compressor-based system. Cool Chips are modular in design and can be packaged to meet the needs of virtually any heat management application. Peter Cowley, Rolls-Royce Chief Scientist - Research & Technology, said: "Rolls-Royce is committed to investment in emerging technologies as part of a continuous program for the improvement of efficiency, noise reduction and the lowering of emissions. We are very interested in the potential of Cool Chips. "If Cool Chips is able to deliver what it promises, this technology will revolutionise Verb 1. revolutionise - fill with revolutionary ideas revolutionize, inspire indoctrinate - teach doctrines to; teach uncritically; "The Moonies indoctrinate their disciples" 2. our electronic heat management systems - for example in our control electronics and for the power electronics which are increasingly used to distribute power around aircraft and ships. 'More electric' systems are becoming increasingly important to us as they should allow us to offer our customers reduced operating costs operating costs npl → gastos mpl operacionales and greater system efficiency." Isaiah W. Cox, president of Cool Chips plc, said: "Cool Chips offer a superb solution for heat management issues in advanced engine design, and Rolls-Royce is the perfect partner for implementing the technology across gas turbine markets in every major sector worldwide." About Cool Chips plc Cool Chips plc was formed in 1997 to develop and market the Cool ChipTM -- a wafer-thin disc designed to produce cooling or refrigeration through the use of quantum electron tunnelling across a nanometer-scale gap. Cool Chips plc (COLCF) based in Gibraltar, is a majority-owned subsidiary majority-owned subsidiary A firm in which more than 50% of outstanding voting stock is owned by the parent company. of Borealis Exploration Limited Borealis Exploration Ltd. is a Gibraltar-based research and development company that owns subsidiaries dealing with materials and power transfer. The company considers itself a virtual company, and is publicly traded. (BOREF) and had 7,997,138 shares outstanding at its fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. , 31 March 2003. The technology is protected by an extensive portfolio of patents, both issued and pending. More information, including the full text of issued patents, is available on the Cool Chips plc web site at http://www.coolchips.gi. About Rolls-Royce plc Rolls-Royce plc is a global company providing power on land, sea and air. The company has established leading positions in civil aerospace, defence, marine and energy markets. It is investing in technology and capability that can be exploited in each of these sectors to create a competitive range of products. Annual sales total nearly GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 6 billion, of which over 40 per cent currently comes from aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. services. The order book stands at more than GBP17 billion, which, together with aftermarket demand, provides visibility as to future activity levels. Company website: http://www.rolls-royce.com |
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