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THERMO ELECTRON ESTABLISHING FIRM FOR COMMERCIALIZING TECHNOLOGY AT IDAHO NATIONAL ENGINEERING LABORATORY

 WALTHAM, Mass., Sept. 15 /PRNewswire/ -- Thermo Electron Corporation (NYSE: TMO) today announced that it is establishing a subsidiary, Thermo Technology Ventures Inc. (TTV), that is entering into a technology commercialization alliance with Lockheed Corporation. Lockheed is leading a team of companies competing for the Department of Energy contract to operate and manage the Idaho National Engineering Laboratory (INEL).
 Dr. George N. Hatsopoulos, Thermo Electron's chairman and president, said, "INEL's focus on applied engineering technologies is an ideal base from which to build new enterprises that address critical challenges in the increasingly competitive global economy. For Thermo Electron, bringing basic technology from the lab to commercial markets has been an important factor in our sustained growth, and it is the essence of our successful spinoff strategy. We are capitalizing TTV with an initial sum of $10 million for promising investments, and we are already evaluating certain INEL technologies. As part of the Lockheed team, we are looking forward to supporting the Department of Energy in its emerging technology partnership with industry."
 Thermo Technology Ventures is to be based in Idaho Falls, Idaho, and will operate as a member of the Lockheed-led team submitting a proposal for the INEL contract that is scheduled for award in June 1994. Other members of the Lockheed INEL team are Rust International Inc., Duke Engineering and Services, Babcock & Wilcox, Parsons Environmental Services, and Coleman Research Corporation.
 Thomas F. Widmer has been named president of TTV. Widmer, an executive technical advisor for Thermo Electron, played a key role in the company's successful commercial development. His responsibilities have included strategic planning, analysis of markets, definition and evaluation of research programs, and formulation of business plans for commercializing new ventures arising from the company's core technologies. Prior to joining Thermo Electron in 1969, Widmer was a program manager in General Electric Company's Space Division and, before that, worked as an engineer for the atomic power division of Westinghouse Electric Company.
 Thermo Electron develops, manufactures, and markets analytical and environmental-monitoring instruments, alternative-energy systems, industrial process equipment, biomedical products, and other products based on advanced technologies. The company also provides environmental and metallurgical services.
 -0- 9/15/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO)


CO: Thermo Electron; Idaho National Engineering Laboratory ST: Massachusetts, Idaho IN: CPR SU:

DJ -- NE004 -- 2222 09/15/93 12:07 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
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