UniSource Energy Bolsters Its Investment in Advanced Energy Technologies.Business Editors/Energy & Utility Writers TUCSON, Ariz.--(BUSINESS WIRE)--Sept. 27, 2000 To reinforce its support of the development and marketing of advanced energy products and applications, UniSource Energy Corp. (NYSE NYSE See: New York Stock Exchange :UNS Uns The symbol for the element unnilseptium. ) will increase its financial and managerial commitment to the company's Advanced Energy Technologies (AET AET Aetna, Inc. AET After Extra Time AET Actual Evapotranspiration AET Alliance for Environmental Technology AET Alpha-Ethyltryptamine AET Applied Extrusion Technologies, Inc. ) affiliate. AET is the majority owner of the company's interest in Global Energy Solutions. Global Energy Solutions is involved in the development and commercialization of 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. applications, including thin-film photovoltaic The generation of voltage by a material that is exposed to light in the visible and invisible ranges. See photoelectric and photovoltaic cell. materials through its Global Solar Energy subsidiary and thin-film batteries through its TFB TFB Texas Farm Bureau TFB Total Fire Ban (Australia) TFB Time for Bed TFB Tactile Feedback TFB Two for Breakfast (hospitality industry) TFB Trust Fund Brat TFB Tethered Float Breakwater Inc., subsidiary. Under an agreement with ITN ITN n abbr (Brit) (= Independent Television News) → chaîne de télévision commerciale ITN (Brit) n abbr (TV) (= Independent Television News) → Energy Systems (ITN), the minority owner of Global Energy Solutions, UniSource Energy has agreed to provide an additional $26 million in funding to Global Solar Energy and TFB through its Millennium Energy Holdings Inc., subsidiary. Ira R. Adler, currently executive vice president and chief financial officer of UniSource Energy and Tucson Electric Power Tucson Electric Power (TEP) is an electric utility company serving southern Arizona in the United States. It is a subsidiary of the UniSource Energy Corporation. Tucson Electric Park, a baseball stadium on Tucson's south side, is named for TEP. , has been named president and chief executive officer of Global Energy Solutions, effective Oct. 1, 2000. "Our solar energy business has reached a level of maturity that requires additional commitment of dollars and personnel," said James S. Pignatelli, chairman, president and chief executive officer of UniSource Energy. "Ira will be responsible for accelerating the commercial growth of our solar business, and the additional capital will facilitate that growth." Separately, Millennium and ITN have agreed to form a jointly owned space systems company to develop and commercialize small-scale satellite technology. ITN will contribute research and development contracts, along with proprietary technologies to the venture. Millennium will provide $20 million in funding. In addition, ITN and Millennium will form a product development company to provide research and development services for AET and its affiliates. ITN will contribute additional technologies, including direct energy conversion, fuel cells and thermal desalinization. Millennium will provide $3 million in funding to the development company. Concurrent with Adler's reassignment from UniSource Energy and Tucson Electric Power, UniSource Energy announced that Kevin P. Larson, currently vice president, finance, and treasurer at Tucson Electric Power, has been named vice president and chief financial officer of both Tucson Electric Power and UniSource Energy to replace Adler. UniSource Energy Corp. is engaged in the development and application of energy services and new energy technologies that will meet needs now and in the future. UniSource Energy's principal subsidiaries include Tucson Electric Power Co., Arizona's second largest investor-owned utility; Global Energy Solutions, a designer and manufacturer of state-of-the-art solar energy products; Nations Energy Corp., an independent power developer; Southwest Energy Solutions, a regional services developer; and ION International, a provider of technology applications for efficient use of energy. UNS Public Affairs Those public information, command information, and community relations activities directed toward both the external and internal publics with interest in the Department of Defense. Also called PA. See also command information; community relations; public information. P.O. Box 711 Tucson, AZ 85702 520/884-3742 www.unisourceenergy.com |
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