Intryst Inc. and PTC Merging to Develop and Commercialize Hydrogen Fuel Cell and Other Alernative Power & Water Systems.FAIR OAKS, Calif.--(BUSINESS WIRE)--Nov. 13, 1997--Intryst, Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : ITRY ITRY Itinerary ) is pleased to announce it has reached an agreement in principle to merge with Power Technologies Corporation (PTC (PTC, Needham, MA, www.ptc.com) Long a world leader in mechanical computer-aided design, manufacturing and engineering software, PTC, through acquisitions and reorganization, has transformed itself into a leading provider of Internet-based B2B solutions for discrete manufacturers. ) of Fair Oaks, California Fair Oaks is a census-designated place (CDP) in Sacramento County, California, United States. The population was 28,008 at the 2000 census. Fair Oaks' zip code is 95628 and its area code is 916. It is considered an unincorporated area of eastern Sacramento County. . The new corporation will be named PTC Group, Inc. and control of Intryst, Inc. will be relinquished to the officers and directors of PTC, and a name and symbol change effected. Financing and share issuances will be noted in subsequent news releases. The new PTC Group is dedicated to becoming a leading marketer, financier, and manufacturer of low-cost, mass-produced, modular, integrated, seawater seawater Water that makes up the oceans and seas. Seawater is a complex mixture of 96.5% water, 2.5% salts, and small amounts of other substances. Much of the world's magnesium is recovered from seawater, as are large quantities of bromine. desalination desalination or desalting Removal of dissolved salts from seawater and from the salty waters of inland seas, highly mineralized groundwaters, and municipal wastewaters. and power generation systems utilizing hydrogen fuel cell and other innovative technologies. However, the strategy will be to convert to fuel cells as the primary power source of these systems as soon as they are commercially possible. Since fuel cells have already demonstrated themselves to be a reliable power source, the Company believes that a commitment to be a primary fuel cell user will provide market incentive for developers to participate in the manufacturing cost reduction efforts that have prevented commercialization to date. Additional efforts will be devoted to the commercial integration of a variety of renewable energy sources into these systems. The Company is poised to capitalize on the global trend toward decentralization de·cen·tral·ize v. de·cen·tral·ized, de·cen·tral·iz·ing, de·cen·tral·iz·es v.tr. 1. To distribute the administrative functions or powers of (a central authority) among several local authorities. , deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. , and privatization of utility systems and infrastructure coupled with the increased demand for reliable water and power sources. With 60% of the world's population without access to adequate supplies of clean water and reliable power, PTC's ability to provide technically sound solutions could produce a promising new market. Wired Magazine (October 1997 issue) recently quoted Mr. Joe Maceda, president of PTC, stating, "Power plants are going to be just like furnaces, they're going to be appliances". PTC Group is a strategic umbrella over its subsidiaries: Integrated Water and Power (IW&P), Advanced Power Sources (APS), and Manufacturing Technologies Corporation (MTC mtc - A Modula-2 to C translator. ftp://rusmv1.rus.uni-stuttgart.de/soft/Unixtools/compilerbau/mtc.tar.Z. ). This structure exploits the subsidiaries development, operational, and manufacturing expertise to fulfill PTC's vision of bringing high quality, low cost, modular products to the water and power infrastructure markets. This unique level of integration and coordination compete with traditional, high cost, individually engineered, one-of-a-kind systems. Intryst president, Mr. Craig Bampton, stated: "We have aggressively been pursuing several innovative technologies to enhance the opportunities of our Company. Over the last few years the viability and potential for exploiting hydrogen fuel cell technologies has reached a new plateau and the intense desire for the world to have nonpolluting and economically sound, alternative energy systems is now available from PTC. We believe this merger will position Intryst and PTC into the forefront of large scale alternative energy providers." CONTACT: Intryst Inc., Fair Oaks Invest Relations, 800/488-7151 Corporate & Joint Venture Information: Joseph P. Maceda, 916/536-1700 Corporate Broker Relations: Barretto Pacific Corporation, 206/583-8370 |
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