Ocean Power Corporation Sigma Update.Business Editors/High-Tech Writers EL DORADO El Dorado, legendary country of South America El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America. HILLS, Calif.--(BUSINESS WIRE)--Nov. 28, 2000 Ocean Power Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). Symbol:PWRE) is pleased to report the following news from Sigma Elektroteknisk AS, Norway. Sigma Elektroteknisk is a fully owned subsidiary of Ocean Power Corporation: SIGMA and KOCKUMS expand their co-operation On November 21, 2000, Sigma Elektroteknisk AS, Norway, and KOCKUMS AB, Sweden, signed a co-operation agreement. KOCKUMS AB has some 30 years experience in developing and building Stirling engines Stirling engine, an external combustion reciprocating engine having an enclosed working fluid that is alternately compressed and expanded to operate a piston, thus converting heat from a variety of sources into mechanical energy. . SIGMA has since 1998 focused on preparing a smaller Stirling engine for manufacturing and introduction as a combined Heat & Power source for domestic applications. This co-operation will support the optimization of the SIGMA engine and at the same time SIGMA will be able to offer their services to KOCKUMS. This will allow SIGMA to focus on the commercialization of the 3 kW unit with the support of over 30 years of experience from the most experienced center of competence in both developing and manufacturing of Stirling engines. As SIGMA concentrate their efforts in supporting the fast developing distributed Heat & Power market and KOCKUMS build engines for military applications the basis for sharing know-how is present. Presentation of KOCKUMS: Kockums designs, develops, builds and maintains submarines and naval surface vessels incorporating the most advanced stealth technologies. In the submarine sector, this involves the Stirling Air Independent Propulsion (AIP AIP acute intermittent porphyria. AIP Acute intermittent porphyria ) system and, in the naval surface vessel sector, carbon fibre technology. Kockums also designs and develops mine countermeasure coun·ter·meas·ure n. A measure or action taken to counter or offset another one. countermeasure Noun action taken to counteract some other action Noun 1. systems and mobile bridge systems. Submarine design and the development and production of the Stirling system are located in Malmo. Design and construction of naval surface vessels, as well as the production of submarines, are located in Karlskrona. Kockums has about 1100 employees in Sweden and has a significant interest in the Australian Submarine Corporation The ASC, formerly Australian Submarine Corporation, is a wholly government-owned Australian naval defence company headquartered at Osborne in Adelaide, South Australia. which has some 900 employees. Kockums AB is a member of the HDW HDW Hardware HDW Howaldtswerke-Deutsche Werft (German Shipbuilding Company) HDW Harley-Davidson of Washington HDW Hemoglobin Distribution Width HDW Hollow Dielectric Waveguide HDW High density satellite derived wind HDW Harvard Data Warehouse Group with head office in Kiel, Germany. Sigma Elektroteknisk AS signs engineering contract with Ricardo, US On Wednesday November 14, Sigma Elektroteknisk AS, signed an engineering contract with Ricardo, Inc., a global powertrain engineering and consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . This is part of Sigma's planned effort to prepare the Stirling engine to be used in distributed heat and power production applications, for volume manufacturing. For more information contact Joseph P. Maceda, 916-933-8100, or visit the following websites: Ocean Power Corporation: www.pwre.com Sigma Elektroteknisk AS: www.sigma-el.com Kockums: www.kockums.se Ricardo: www.ricardo.com The above statements in regard to Ocean Power which are not purely historical are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. including Ocean Power's beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to Ocean Power as of such date. It is important to note that actual outcome and the actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes. |
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