Magnetek Delivers First 300-kW Power Conditioner to FuelCell Energy.Energy Editors/Business Editors LOS ANGELES--(BUSINESS WIRE)--March 3, 2004 Magnetek, Inc. (NYSE NYSE See: New York Stock Exchange :MAG) has designed, built and delivered its first 300-kilowatt (kW) power conditioner to FuelCell Energy, Inc. (Nasdaq:FCEL). Magnetek power conditioners invert in·vert v. 1. To turn inside out or upside down. 2. To reverse the position, order, or condition of. 3. To subject to inversion. n. Something inverted. the direct current (dc) generated by fuel cells into precise, reliable alternating current (ac) required to run most electrical equipment, and they enable the fuel cells to operate in grid-tied mode or stand-alone if utility power fails. Magnetek's 300-kW fuel-cell power conditioner is the most powerful of its kind ever built. Air-cooled and highly efficient, it is expected to enable FuelCell Energy's Direct FuelCell(R) (DFC DFC - A dataflow language. ["Data Flow Language DFC: Design and Implementation", S. Toshio et al, Systems and Computers in Japan, 20(6):1- 10 (Jun 1989)]. (R)) power plant to support both grid-connect and stand-alone loads. Five inverter (1) A logic gate that converts the input to the opposite state for output. If the input is true, the output is false, and vice versa. An inverter performs the Boolean logic NOT operation. (2) A circuit that converts DC current into AC current. Contrast with rectifier. units, packaged together, operating in parallel would provide 1.5 megawatts of "clean", reliable electric power, and ten units in parallel will deliver 3.0 megawatts. During the past half-decade, Magnetek has delivered power conditioners up to 200-kilowatts for more than 160 commercial fuel-cell installations totaling nearly 32 MW, including the world's two largest fuel cell systems. The Company manufactures power control products and systems used in a broad range of applications requiring highly reliable, precise, energy-efficient power. It operates manufacturing and research facilities in North America, Europe and Asia, employs approximately 1,600 people and reported revenue of $201.8 million for fiscal 2003, ended on June 30, 2003. More information about Magnetek, Inc. and its power products and systems is available at http://www.magnetek.com. About Direct FuelCells Direct FuelCells efficiently generate clean electricity at distributed locations near customer locations, including hospitals, schools, universities, hotels and other commercial and industrial facilities, as well as in grid-support applications for utility customers. Essentially, Direct FuelCells are like large, continuously operating batteries that generate electricity as long as fuel, such as natural gas, is supplied. Since the fuel is not burned, there is no pollution commonly associated with the combustion of fossil fuels. Because hydrogen is generated directly within the fuel cell module from readily available fuels such as natural gas and wastewater treatment gas, DFC power plants are ready today and do not require the creation of a hydrogen infrastructure. This high-efficiency technology generates more electric power from less fuel and with less carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. emissions than traditional combustion methods. About FuelCell Energy, Inc. FuelCell Energy, Inc., based in Danbury, Connecticut, is a world leader in the development and manufacture of high temperature hydrogen fuel cells for clean electric power generation, currently offering DFC power plant products ranging in size from 250 kilowatts to 2 megawatts for applications up to 50 megawatts. Its subsidiary, Global Thermoelectric ther·mo·e·lec·tric also ther·mo·e·lec·tri·cal adj. Characteristic of, resulting from, or using electrical phenomena occurring in conjunction with a flow of heat. Inc., is a leader in the development of solid oxide fuel cell A Solid oxide fuel cell (SOFC) is an electrochemical conversion device that produces electricity directly from fuel. Fuel cells are characterized by their electrolyte material and, as the name implies, the SOFC has a solid oxide, or ceramic, electrolyte. (SOFC SOFC Solid Oxide Fuel Cell ) products and the world's largest manufacturer and distributor of thermoelectric stationary power generators for use in remote locations. The Company has developed commercial distribution alliances for its carbonate Direct FuelCell technology with MTU (1) (Maximum Transmission Unit, Maximum Transfer Unit) The largest frame size that can be transmitted over the network. For example, an Ethernet MTU is 1,500 bytes. Messages longer than the MTU must be divided into smaller frames. CFC CFC See: Controlled foreign corporation Solutions GmbH, a company of DaimlerChrysler AG, in Europe; Marubeni Corporation in Asia; Caterpillar, PPL PPL - Polymorphic Programming Language. An interactive, extensible language, based on APL, from Harvard University. ["Some Features of PPL - A Polymorphic Programming Language", T.A. Standish, SIGPLAN Notices 4(8) (Aug 1969)]. Energy Plus, Chevron Energy Solutions and Alliance Power in the U.S.; and Enbridge in Canada. FuelCell Energy is developing Direct FuelCell technology for stationary power plants with the U.S. Department of Energy through its Office of Fossil Energy's National Energy Technology Laboratory. More information about Direct FuelCells and FuelCell Energy, Inc. is available at http://www.fuelcellenergy.com. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the Company's expectations regarding sales of and markets for its products and services, such as power conditioners for alternative energy sources such as fuel cells. These forward-looking statements are subject to a number of risks and uncertainties, many of which cannot be predicted or quantified and are beyond the Company's control. Future events and actual results may differ materially from those set forth in, contemplated by, or underlying these forward-looking statements. |
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