EUA/BIOTEN JOINT VENTURE TO BUILD COMMERCIAL PROTOTYPE BIOMASS-FUELED COMBUSTION TURBINE GENERATOR.BOSTON--(BUSINESS WIRE)--July 14, 1995--The EUA EUA Examination under anesthesia, see there Energy Investment Corp. subsidiary of Eastern Utilities Associates (NYSE NYSESee: New York Stock Exchange : EUA) today announced formation of a joint venture with BIOTEN LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to build a commercial prototype biomass-fueled combustion turbine electric generating unit at Red Boiling Springs Boiling Springs is the name of several places in the United States:
EUA Energy Investment Corp. seeks out appropriate non-utility energy-related opportunities for EUA participation. Donald G. Pardus, EUA Chairman and Chief Executive Officer, said: "Our joint venture with BIOTEN is another example of EUA's quest for Verb 1. quest for - go in search of or hunt for; "pursue a hobby" quest after, go after, pursue look for, search, seek - try to locate or discover, or try to establish the existence of; "The police are searching for clues"; "They are searching for the niche-type energy-related diversification opportunities. "We view the potential market for small generating units of this type as an opportunity to provide an environmentally sound method of generating electricity which can enhance the value of EUA shares," Pardus continued. "This prototype will demonstrate the ability to economically burn sawdust to power small generating units in the five- to 15-megawatt (MW) range," says Wilfrid W. Freve, EUA's Director of Special Projects. "This technology represents a potential solution to a disposal problem, since EPA EPA eicosapentaenoic acid. EPA abbr. eicosapentaenoic acid EPA, n.pr See acid, eicosapentaenoic. EPA, n. and local regulations in force since the start of 1995 prohibit the disposal of sawdust in landfills or through open burning," he added. The prototype 5-MW unit will burn about ten tons of sawdust per hour, supplied from local sawmills. Its electric output will be sold to the Tennessee Valley Authority Tennessee Valley Authority (TVA), independent U.S. government corporate agency, created in 1933 by act of Congress; it is responsible for the integrated development of the Tennessee River basin. . A smaller experimental generating unit is currently being dismantled on the site where the commercial prototype is to be built. BIOTEN expects to begin construction of the new unit this month, with operational testing before year's end. "We anticipate being able to deliver these units to potential buyers during 1996," says Freve. "The potential market," he adds, "includes municipal electric companies as well as sawmills and other producers of large amounts of biomass waste that would use their waste products as a fuel source to generate useful heat and electricity." EUA is a Boston-based diversified energy services company whose shares are traded on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Pacific Stock Exchanges. Subsidiaries besides EUA Energy Investment are Blackstone Valley Electric Co., Eastern Edison Co., Newport Electric Corp., EUA Cogenex Corp., EUA Ocean State Corp., EUA Service Corp., and Montaup Electric Co. Together, the companies are known as the EUA System. CONTACT: Eastern Utilities Associates, Boston Clifford J. Hebert, Jr., 617/357-9590 |
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