New Energy Corporation Signs 10 Year, 220kW Energy Contract With Andrew Martin Company, Inc.Business Editors LOS ANGELES--(BUSINESS WIRE)--Jan. 8, 2002 New Energy Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : NECO Neco: see Necho. ), an alternative-renewable energy/thermal generator systems provider, today announced that it has entered into an Energy Purchase Agreement with Andrew Martin
Andrew Test Martin (born Andrew J. Martin on March 17, 1975 in Whitby, Ontario) is a Canadian professional wrestler. Company, Inc., of Carson, California Carson is a city in Los Angeles County, California, United States. As of the 2000 census, Carson had a total population of 89,730. It is located 13 miles south of downtown Los Angeles, and is classified as a suburb of the city. , to provide the company with High Concentrate Photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. (HCPV HCPV Hydrocarbon Pore Volume HCPV High Capacity Passenger Vessel HCPV High Concentration Photovoltaics ) Solar Energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun. for a 10-year term. The contract includes a 220kW HPCV generator system, to be delivered by the third quarter of 2002. John McDonald, President and Director of New Energy Corporation, commented: "Due to recent overwhelming demand for our product from the energy marketplace, we positioned to be extremely selective as to companies we sign to energy purchase agreements. We currently sign only those institutional accounts that fit within certain criteria, thus ensuring the fulfillment of our energy purchase agreements. Andrew Martin Company, Inc. is a leader in the plastics industry and we are pleased to add such a well-recognized company to our ever-growing list of institutional energy clients." Cliff Miller, President of Andrew Martin Company, Inc., commented: "This energy crisis has taken its toll on many companies within the plastics industry, including us. The high cost of energy, coupled with blackouts, caused havoc, particularly with the threat of molten raw materials cooling solidly inside our extruders and injection molders, stopping production. By substituting the majority of our fossil fuel derived energy with solar, we will be able to guarantee our customers timely and uninterrupted production of their product orders." Miller continued: "When we made the decision to employ solar energy instead of fossil fuel derived energy to satisfy our needs, we researched all possible renewable energy solutions. We found that, in the conversion of sunlight to energy, New Energy Corporation's HPCV solar generators are twice as efficient as any other solar energy product on the market." About New Energy Corporation New Energy Corporation is a U.S. solar energy generator systems provider deploying the most advanced High Concentration Photovoltaic (HCPV) technology in the world. The emerging HCPV technology enables the Company to deliver electrical and thermal solar energy generators to residential, commercial, industrial and utility scale end-users on an economic basis superior to all other forms of renewable energy generators and more than competitive with fossil fuel generators. For more information on New Energy please visit their Web site at www.newenergyco.com. About Andrew Martin Company, Inc. Andrew Martin Company, Inc., of Gardena, California, was founded in 1957, and is a contract packager that specializes in short run, quick-to-market plastics solutions. The Company offers three product lines and can tailor the final assembly to suit any need. The packaging is extruded in-house using FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approved food grade PVC PVC: see polyvinyl chloride. PVC in full polyvinyl chloride Synthetic resin, an organic polymer made by treating vinyl chloride monomers with a peroxide. compounds. The matters set forth in this news release may contain forward-looking statements. Forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from expectations. Contributive factors to such differences include those identified in the company's filings with the Securities and Exchange Commission ("SEC"). |
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