Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0
> CATALYTICA ENERGY SYSTEMS AND SOLAR TURBINES ANNOUNCE PLANS TO
> DEVELOP
> XONON-EQUIPPED TAURUS 60 GAS TURBINES
>
> MOUNTAIN VIEW, Calif. (October 9, 2001) - Catalytica Energy Systems, Inc.
> (Nasdaq: CESI), and Solar Turbines Incorporated announced today the start
> of a new developmental program which would combine Catalytica Energy
> Systems' Xonon* Cool Combustion technology with a Solar Turbines' Taurus*
> 60, a 5 megawatt (MW) gas turbine, as part of a $3.0 million grant
> recently awarded to Solar Turbines by the California Energy Commission
> (CEC).
> The 24-month joint development effort will commence in the fourth quarter
> this year. This program, which will be partially funded by the CEC
> through its Public Interest Energy Research (PIER) Program, will advance
> the development of the Xonon Cool Combustion system up through full-scale
> testing on a demonstration engine at Solar's facility in San Diego.
> Xonon is a pollution prevention system proven to achieve ultra-low
> emissions of nitrogen oxides (NOx) in gas turbine power production. When
> integrated in a gas turbine, Xonon avoids the need for end-users to
> install and operate costly and burdensome exhaust cleanup systems to meet
> emissions requirements.
> This latest program follows the completion of a prior collaborative effort
> between Solar Turbines and Catalytica Energy Systems, which involved joint
> design and testing of Xonon as part of Solar's Advanced Turbine Systems
> program with the U.S. Department of Energy.
> "We have participated in joint development work with Catalytica Energy
> Systems in the past with good results," stated Jack Hawley, director of
> Power Generation Marketing for Solar Turbines. "Following the success of
> our prior collaborative effort, we have been exploring the potential for
> applications of Xonon to meet our customers' need for a cost-effective
> means to achieve very low NOx emissions from our turbines."
> Hawley continued, "The power generation industry today is faced with a
> trend toward increasingly stringent emissions requirements spanning a
> wider geographic area. To compete in this market, gas turbine
> manufacturers must explore advances in emissions control to satisfy
> customer demand and to address public concerns for clean power. Xonon has
> the potential to provide a reduction in NOx to ultra-low levels, which are
> being required in more and more areas of the country."
> Craig Kitchen, president and CEO of Catalytica Energy Systems, stated, "We
> are pleased to be working with Solar to bring clean, reliable power to the
> market. This latest partnership with the leader in the 1-14 MW industrial
> gas turbine market represents an important stride in our ongoing effort to
> expand the availability of Xonon on a greater number of gas turbines and
> increase our penetration of the growing distributed generation market."
> Solar Turbines, a wholly owned subsidiary of Caterpillar (NYSE: CAT), is
> headquartered in San Diego, California, and produces the world's most
> widely used family of highly efficient and reliable industrial gas
> turbines, which range from 1 to 14 MW (1590 to 19,500 hp). More than
> 11,300 Solar® gas turbines with over one billion operating hours of
> experience are installed in 90 nations on land and offshore. For more
> information, visit www.solarturbines.com.
> Catalytica Energy Systems designs and develops advanced products for more
> effective energy production. Its proprietary technologies include the use
> of catalysts to create solutions to ease the environmental impact of power
> generation. The Company's first product, Xonon Cool Combustion, is a
> breakthrough combustion technology that achieves ultra-low emissions
> levels for gas turbine power production. Xonon prevents the formation of
> pollution, particularly nitrogen oxides (NOx), a primary contributor to
> smog, through a proprietary catalytic combustion process. Additional
> technology development efforts include work on fuel processing for fuel
> cells, as well as adaptation of Xonon technology to micro-turbines, hybrid
> gas turbine fuel cells, and diesel applications. Find Catalytica Energy
> Systems on the Worldwide Web at www.CatalyticaEnergy.com.
>
> This news release contains forward-looking statements regarding the
> incorporation of Catalytica Energy Systems' Xonon Cool Combustion system
> into Solar Turbines' Taurus 60 gas turbine, the arrangements between Solar
> Turbines and Catalytica Energy Systems for joint development on the Taurus
> 60, the timing of receipt of funding by Solar Turbines from the California
> Energy Commission, the timing of such development, the market demand for
> Xonon-equipped Taurus 60 gas turbines, the ability of Xonon to perform
> more cost-effectively than competing exhaust cleanup systems, the
> competitive positions of Xonon, the Taurus 60, and Solar Turbines, and the
> growth prospects for Solar Turbines and Catalytica Energy Systems'
> business. These statements are subject to risks and uncertainties that
> could cause actual results and events to differ materially from those
> expressed in the forward-looking statements. These risks and
> uncertainties include, among others: the fact that unanticipated
> technical, commercial or other setbacks related to the development and
> application of Xonon to the Taurus 60 may delay or prevent incorporation
> of Xonon into the Taurus 60, possible fluctuations in the demand for Solar
> Turbines' or Catalytica Energy Systems' products, possible fluctuations in
> economic conditions affecting the markets for Solar Turbines' or
> Catalytica Energy Systems' products, the risk that a market may not
> develop or be maintained for Solar Turbines' or Catalytica Energy Systems'
> products, and that results may differ from those stated and the other
> risks set forth in the Catalytica Energy Systems' prospectus and Form 10-Q
> filed with the Securities and Exchange Commission (SEC) on August 8, 2001
> and August 14, 2001 respectively, and Caterpillar's public filings with
> the SEC. Caterpillar, Solar Turbines, and Catalytica Energy Systems
> undertake no obligation to update publicly any forward-looking statements
> to reflect new information, events, or circumstances occurring after the
> date of this release.
>
> # # # #
>
> Editor's Note: Xonon and Xonon Cool Combustion are registered trademarks
> of Catalytica Energy Systems, Inc. Mountain View, CA, USA
>
>
Megan Ravel
Manager, Investor Relations
Catalytica Energy Systems, Inc.
430 Ferguson Drive
Mountain View, CA 94043-5272
Tel. 650/940-6253
Fax 650/960-0127
E-Mail: mravel@catalyticaenergy.com
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.